Costa Rica: The CCSS pensions are far from collapsing
La Nación - Costa Rica
The actuarial valuations of the Disability, Old Age and Death Scheme (Régimen de Invalidez, Vejez y Muerte, IVM) managed by the Costa Rican Social Security Fund (Caja Costarricense de Seguro Social, CCSS) forecast a period of over 25 years with positive net income. The International Labour Organization has certified the valuations and recommended not only that the CCSS continue its actuarial monitoring, identifying problems and corrective measures, but also that there be a debate on how to extend the long-term sustainability of the IVM, in addition to the increase in contributions already scheduled for 2035.
Read the full article (available in Spanish only) prepared by Helmut Schwarzer and Sergio Velasco, 21 February 2014.