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Key Findings Details

Social Security Rules and Labor Force Participation of Older Workers: Evidence from Chile
by Alejandra Cox Edwards and Estelle James
WP 2008-202
• Prior to its 1981 social security reform, Chile had early withdrawal from the labor force comparable to that of many European countries.
• Chile's 1981 reform increased labor force participation among older workers, especially pensioners and women, and postponed the age of pensioning.
• Reform included restrictions on early pensions, adoption of a defined contribution plan, pensioner exemption from the payroll tax, and widows retained their pensions along with the survivor benefit.