Aging in Latin America and the Caribbean from the Perspective of National Transfer Accounts

Abstract

This report is the result of collaboration between the Pan American Health Organization (PAHO) and the Economic Commission for Latin America and the Caribbean (ECLAC), It describes aging based on the socioeconomic profiles of older people in the subregion, from the perspective of national transfer accounts. The report analyzes the profiles of labor income and consumption; the life cycle deficit; financing the system for older people; the interactions between consumption, health, and population aging; the economic support ratio; and public policies that provide transfers to older people. It also explains how public transfers and accumulated assets are the main sources of financing for older people, and how older people often help to finance other groups of people through private transfers. This publication provides evidence that draws attention to the importance of pension systems for the income of older people, and to the low rates of social security contributions resulting from informal and precarious labor conditions, as well as the impact of non-contributory programs.