Social Security Reforms in Colombia : Striking Demographic and Fiscal Balances / Sergio Clavijo.

Format:

Book

Government document

Author/Creator:

Clavijo, Sergio.

Series:

IMF Working Papers; Working Paper ; No. 2009/058

IMF Working Papers

Language:

English

Subjects (All):

Social security--Colombia.

Social security.

Social change--Colombia.

Social change.

Physical Description:

1 online resource (33 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2009.

Language Note:

English

Summary:

This paper analyzes the economic rationale for adopting parametric pension reforms and reforms broadening the coverage of public health care in Colombia during 1993-2008. Parametric pension reforms have focused on increasing the retirement age and moderating replacement rates. The health system reforms aimed at reaching universal coverage by 2012, while providing a more homogenous level of services. Our results indicate that the Net Present Value of the debt of the social security system in Colombia is roughly 160 percent of GDP for pensions and about 97 percent of GDP for the health system.

Contents:

Contents; I. Introduction; II. Pension Reforms in Colombia; A. Retirement Age; 1. Retirement Age Gap; B. Replacement Rates; 2. Evolution of Replacement Rates; 3. Expected Replacement Rates Under the Private AFP's System; C. Coverage and Labor Informality; 4. Pension Contributions: Worker/Firm Share; D. Fiscal Impact of Pension Reforms; 5. Projected Cash Payments to Support Paygo; 6. Estimated NPV of Pension Liabilities; III. Health Reforms in Colombia; A. Improving Coverage and Subsidies Allocation: Law 100 of 1993; 7. Structure of the Health Care System; B. Health Care Results

8. Colombia Health Care and Pension CoverageC. Fiscal Impact of Health Care Reforms; 9. Health Care Spending; Tables; 1. Population, Labor and Health Care Coverage Projections; 10. GDP Per Capita and Labor Formality Correlation; 2. Health Care and Fiscal Cost Projections; 11. Health Care and Fiscal Cost Projections; 3. Health Care NPV by Type of Obligation; Figures; IV. Conclusions; 12. A Comparison of the NPV of Social Security Public Liabilities of Colombia and the United States; References

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on print version record.

ISBN:

9786612842795

9781462365869

1462365868

9781452708706

1452708703

9781451872057

1451872054

9781282842793

128284279X

OCLC:

469142098