JEL Code
H55, D72, D91, G23, P16
Abstract
The purpose of this article is to develop a reform proposal for current pension systems based on a robust political economy approach. The research is documentary, conducting critical analysis of texts and evidence collection from various pension schemes from a public choice perspective to elaborate a comparative institutional analysis. Pension schemes, being influenced by political processes, are susceptible to adopting institutions that are inefficient, so a politically and economically robust reform is proposed. In conclusion, taking into account that pension systems can be co-opted by the political process, it is not sufficient to propose financially sustainable schemes but also ones that are robust to political incentives.
Recommended Citation
Bohorquez Pacateque, Juan David; Morales Sánchez Mejorada, Alonso; and Villegas Muñoz, Paul Alexander
(2026)
"The Road to Gerontocracy,"
Journal of New Finance: Vol. 4:
No.
1, Article 5.
DOI: 10.46671/2521-2486.1049
Available at:
https://jnf.ufm.edu/journal/vol4/iss1/5
Publication Date
6-22-2026