{
  "title": "An Assessment of the 2019 and 2020 Pension Reforms in Mexico",
  "publication": "IMF Working Papers, March 8, 2024",
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  "summary": "In recent years the Mexican pension system has changed significantly. In 2019 the existing means-tested social pension was made universal – covering everyone over the age of 65 – and the benefit level increased.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- The paper assesses major changes to the Mexican pension system enacted in 2019 and 2020, evaluates likely outcomes, discusses design inefficiencies, and offers policy options to improve pension system design.\n- Author: Boele Bonthuis.\n- Date: March 8, 2024."
    },
    {
      "heading": "Reforms and Expected Outcomes",
      "content": "- 2019 reform:\n  - The existing means-tested social pension was made universal, covering everyone over the age of 65.\n  - The benefit level was increased.\n- 2020 reform (main regime of the private sector):\n  - Increased contribution rates for the funded defined contribution system.\n  - Lowered the minimum years of contributions needed to receive an earnings-related pension.\n  - Increased minimum pensions.\n- The paper attempts to assess the likely outcomes of these changes."
    },
    {
      "heading": "Design inefficiencies Identified",
      "content": "- The paper discusses design inefficiencies of the 2019 and 2020 reforms (specific inefficiencies are examined in the full paper)."
    },
    {
      "heading": "Policy options",
      "content": "- The paper offers policy options to improve pension system design (specific options are examined in the full paper)."
    },
    {
      "heading": "Subjects and Keywords",
      "content": "- Subjects: Aging, Expenditure, Labor, Pension spending, Pensions, Population and demographics, Retirement, Wages.\n- Keywords: Aging, Caribbean, Central America, design inefficiencies, design inefficiency, funding, labor supply incentives, minimum pension, pay-as-you-go, pay-as-you-go pension accrual, pension calculation, Pension reform, Pension spending, pension system design, Pensions, Retirement, Wages.\n\nAn Assessment of the 2019 and 2020 Pension Reforms in Mexico — IMF Working Paper by Boele Bonthuis, March 8, 2024.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2024/03/08/an-assessment-of-the-2019-and-2020-pension-reforms-in-mexico-545765"
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    "Authors: Boele Bonthuis",
    "Published: March 8, 2024",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400269431.001",
    "The paper assesses major changes to the Mexican pension system enacted in 2019 and 2020, evaluates likely outcomes, discusses design inefficiencies, and offers policy options to improve pension system design.",
    "Author: Boele Bonthuis.",
    "Date: March 8, 2024.",
    "2019 reform:",
    "2020 reform (main regime of the private sector):",
    "The paper attempts to assess the likely outcomes of these changes.",
    "The paper discusses design inefficiencies of the 2019 and 2020 reforms (specific inefficiencies are examined in the full paper).",
    "The paper offers policy options to improve pension system design (specific options are examined in the full paper).",
    "Subjects: Aging, Expenditure, Labor, Pension spending, Pensions, Population and demographics, Retirement, Wages.",
    "Keywords: Aging, Caribbean, Central America, design inefficiencies, design inefficiency, funding, labor supply incentives, minimum pension, pay-as-you-go, pay-as-you-go pension accrual, pension calculation, Pension reform, Pension spending, pension system design, Pensions, Retirement, Wages.",
    "**Working Paper**"
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