Global crisis: flexibilization of retirement requirements in Peru

Social security has always been the main instrument societies have to face recession, mainly trough unemployment insurance. In our 2010 Annual Report we mentioned the labor market and social security policies implemented in several countries of the continent to face the 2008-2009 global crisis. In Peru since February 2010 men aged 55 and women aged 50 enrolled in the DC pension scheme (we have to remember that in Peru there are two parallel systems -DB and DC-) can ask for early retirement if they have been unemployed for a year (see how the program works here). We have to mention that in Peru there is not unemployment insurance.