Abstract

Private pension isan area of continuing controrersy among economists. Several advantages are claimed for privately funded pensions. These claims engender powwrful lobbies in favor of private pensions in a number of countries. Experience in Chile is worth discussing separately because its pension reform was introduced in a political climate which would normally be unaccaptable. In terms of equity, Chile's scheme does not have a satisfoctory degree of solidarity between generations or differcent social groups and it falls short of the criteria established in international labour standards. In most European countries a relatively stabla consensus has been reached on the forms of coexistence and models for linkages between public pension insurance and private schemes. In thesec countries the objective is to regain financial control over the system and to guarantee its long term stability.

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Article Language: EnglishTurkish