Pension reform, personal pensions and gender differences in pension coverage

The Personal Pension Scheme introduced in Chile in 1981 has acquired a paradigmatic role for pension reform in less developed and developed countries. In contrast to the significant gender gap in private pension coverage observed in developed countries, in Chile women's participation in the personal pension scheme is marginally higher than men's. Using cross-section data the paper analyzes the determinants of personal pension plan contribution in Chile, and their effects. It concludes that women's strong pension propensities and pension plan design explain in large part the absence of a gender gap in private pension coverage in Chile.