Caribbean Economics Quarterly: Volume 13, Issue 2: Building Resilient Safety Nets in the Caribbean: Future-proofing Retirement Incomes

Caribbean nations, like their peers in Latin America, are gradually observing the effects of a rapidly aging population. National pension schemes will face increasing budgetary demands to support a growing pool of pensioners. However, these schemes are supported by a gradually diminishing pool of workers, of which only a fraction will be contributing. This demographic trend is driven by several factors including high emigration, diminishing fertility rates and increasing life expectancies. Therefore, reforms will be necessary to safeguard the sustainability of these schemes for future generations. The regional chapter provides an overview of the key drivers of this demographic trend, its implications for national pension schemes, and possible policy responses. Furthermore, country circumstances vary substantially, as noted in the country sections of this report.