OPC 5 Public Policy Evaluation 5 DEMOGRAPHIC PROFILE OF THE NATIONAL SOCIAL SECURITY SYSTEM

DEMOGRAPHIC PROFILE OF THE NATIONAL SOCIAL SECURITY SYSTEM

July 27, 2020
  • After the age of 40, the number of contributors begins to decline, particularly in the private sector, suggesting that there is an ” ejection from the labor market” after that age.
  • This situation, together with the high level of informality, makes it impossible to access long-term pension benefits.
  • The fact that 40.6% of contributors are women and 59.4% are men is a sign that a large part of the female labor force is outside the formal market.
  • More than 50% of the active beneficiaries of the general regime receive amounts 2.5 times below the minimum wage; and 15.4% of men and 19.7% of women receive an amount equal to or less than the minimum wage.
  • A pension benefit is equivalent to 38.1% of an active person’s income.
  • Of the general regime benefits, 54.9% required a moratorium.
  • Women, who were included to a large extent through a moratorium, account for 67.6% of the benefits.
  • Excluding the special regimes, 86.1% of the benefits are equal to or less than two minimum pensions.
  • The pension amount accounts for 38.1% of the average salary received by workers in the ten years prior to retirement.
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