Dr. José Piñera is considered the architect of Chile’s successful private national pension system created in the early 1980’s. The Piñera Chilean Model has been adopted by many countries and is studied around the world by governments as an innovative model for privatized pensions. He has advised governments on the process of economic liberalization, including the Presidents of Argentina, Colombia, Bolivia, El Salvador and Peru, and he has been active in providing advice and viewpoints in the United States as well as in Europe.
The Piñera privatization model of Social Security has brought significant economic benefits to Chile’s economy because it has improved the functioning of both capital and labor markets. Social Security privatizing has been one of the key reforms that has pushed the growth rate of Childe upward from three percent a year to seven percent in the past decade.
Dr. Piñera, in fostering privatization of national pension systems, has made a contribution to the insurance industry by opening up awareness and acceptance of life and annuity products that help people build assets for the future. He is the Founder and president of the Intentional Center for Pension Reform, Chile, and he is co-chair of the Cato Institute Project on Social Security Privatization, USA.