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Social Security Reforms in Colombia: Striking Demographic and Fiscal Balances

Author/Editor: Clavijo, Sergio
Authorized for Distribution: March 1, 2009
Electronic Access: Free Full Text (PDF file size is 523KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

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.
 
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Series: Working Paper No. 09/58
Subject(s): Social security | Colombia | Fiscal reforms | Labor market policy | Pensions | Health care | Government expenditures | Social safety nets
Author's keyword(s): Social security | healthcare expenditures
 
English  
    Published:   March 1, 2009        
            Format:   Paper
    Stock No:   WPIEA2009058   Pages:   31
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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