In the 1980s a wave of pension system reform swept the world,wherein the reform in Latin America is especially noteworthy. The pioneering pension privatization reform in Chile was launched in 1981,which is viewed as a groundbreaking action to revolute the pay- as- go pension system. The pension reform in Peru was launched in1993,which is featured by a combination of public and private systems. Comparatively speaking,there are great similarities between the two countries' pension reform in terms of major driving forces,basic components and the process of reform. On the other hand,the two countr...
