From the privatization to the (re) nationalization of the Argentinean pension system

Abstract

This paper deals with the privatization of the Argentinean pension system and its (re) nationalization, occurred from 1994-2008. In its first part, the economic and social moment in which the pension funds were created are described; along with its main defence arguments, organization, funding and coverage; the degree of market concentration and the portfolio composition. The second part describes the measures existing immediately before the extinction of the funds – the ones that promoted the first wave of coverage extension -; the reform that brought the private system to an end and the changes provoked by the (re) nationalization in allocating the resources, once in the hands of the funds, in coverage and in the level of benefits.