This review assesses Peru’s pension system in its entirety, looking at both public
and private, pay-as-you-go (PAYG) financed and funded pension provisions. The review
then provides policy options to help tackle old-age poverty; establish a solid framework
for the contributory pension system to meet its objectives; improve the coverage and
level of pensions; and optimise the design and improve the regulation of the funded
private pension component. A further goal of these proposals is to improve the Peruvian
population’s trust that the country’s pension system will be able to deliver secure
retirement income in old age. The review is the fifth in a series of country reviews
of pension systems [Ireland (2014), Mexico (2016), Latvia (2018), and Portugal (2019)].
These reviews provide countries with policy options that will help them improve the
functioning of their overall pension system. Tailored policy options are proposed
based on the specificities of the national pension system, and on international best
practices regarding reforms, design and regulation of pension systems.