Covid-19 underlines the problems of savings-based pensions:the case of Kosovo and Chile

The pension model adopted by Chile in 1981 was promoted by the World Bank and other institutions as an example for emerging markets to follow. Variants of the model were subsequently adopted by more than 30 countries across the world. One of the closest copies was made in Kosovo. Yet as Bernard H. Casey and Artan Mustafa explain, recent developments in both Chile and Kosovo have raised major questions about the future of such systems.