The age pyramid is turning upside down in many Latin American countries and most governments are not prepared for the pressures this trend will impose on their pension systems for the elderly. This is one of the main conclusions from the study, “Present and Future of Pensions in Latin America and the Caribbean,” conducted by the Inter-American Development Bank at the end of last year and jointly authored by Álvaro Altamirano, Solange Berstein, Mariano Bosch, Manuel García Huitrón, and María Laura Oliveri. Short circuits in the system demand that governments address the issue of those who are contributing or saving less than what they will need in retirement. These people will inevitably end up subsidized by the government, which will be a great burden. The publication meticulously scanned the pension systems of each country to contribute to the discussion of how to make them more self-sustaining.