Too many questions (and some answers) about the pension system in Argentina: an intergenerational approach

What do we know about the Argentine Social Security (SS) system? How did SS coverage expand? How was/is SS financed? What levels of benefits are paid? What is the impact of demographic and labor market trends? Which are the challenges that future pension policies face in terms of sustainability?
Argentina is a paradigmatic case in the global context due to various aspects of its economic and social development, including setting up a SS system that was modified several times. Lately, a fully-funded component was introduced in 1994 and subsequently reversed to a pay-as-you-go scheme in 2008. After the 2001 crisis, the favorable fiscal position gave margin for policies that reversed the decline in coverage to unprecedented levels reaching over 90% of the elderly.
This paper analyzes the historical evolution, reviews the main demographic and SS changes, and provides updated data in terms of all the most relevant dimensions: scope, adequacy of benefits, funding sources, fiscal commitments, and potential perspectives.
Finally, an evaluation of the aging process and SS financing is carried out considering the ‘national transfer accounts’, based on applying age-specific patterns of current economic life-cycle to a scenario where all parameters are kept constant except for demographic prospects.