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Pension insurance and the participation of private enterprise
Author(s) -
Tamburi Giovanni
Publication year - 1993
Publication title -
international social security review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.349
H-Index - 28
eISSN - 1468-246X
pISSN - 0020-871X
DOI - 10.1111/j.1468-246x.1993.tb00371.x
Subject(s) - principal (computer security) , solidarity , continuance , social security , social insurance , latin americans , state (computer science) , business , economic growth , economics , politics , political science , market economy , algorithm , computer science , law , operating system
One of the principal developments of our time in the field of social security policy has been the growing importance of the desire of individuals for greater economic security in their old age. This desire has in its turn given rise to an increasing tendency to seek benefits complementing those offered or promised by public social insurance schemes. In Europe and North America private enterprise has for many years played an active role in the field of complementary provident arrangements; but in the countries of Latin America interest in schemes of this kind has only begun to develop in recent years. A study of the present situation shows a need to establish concepts permitting an objective approach to the problem of whether — and ultimately, how — a modern State can succeed in striking a satisfactory balance between public intervention and private enterprise in the field of provision against deferred risks or, if it cannot do so, what the prospects are for the securing of a better future by present‐day society and how that goal could be achieved. A reform of provident systems in Latin America is inevitable. The difficulty lies in determining how to reorganize public systems so as to ensure their continuance and to entrust them with the principal role in ensuring social solidarity while at the same time opening up opportunities for free private complementary insurance.