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Communicating Pension Risk to DC Plan Members: The Chilean Case of a Pension Risk Simulator

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  • Pablo Antolin
  • Olga Fuentes

Abstract

The purpose of this paper is to discuss a few issues related to how best to communicate uncertainty about projections of future pension benefits to members of DC plans, and especially to present a pension risk simulator developed by the Chilean regulator (Superintendencia de Pensiones, SP) that addresses directly how to convey that uncertainty and aims at eliciting a pro-active response from individuals in terms of contributing more and for longer. Communiquer le risque de retraite aux adhérents des plans à cotisations définies : Le cas chilien d'un simulateur de risque de retraite L’objectif de ce document est de discuter de quelques questions liées à la manière de communiquer l’incertitude autour des projections des futures prestations de retraite aux adhérents des plans de retraite à cotisations définies. En particulier, le but est de présenter un simulateur de risque de retraite développé par le régulateur chilien (Superintendencia de Pensiones, SP) qui aborde directement la manière de transmettre cette incertitude et vise à susciter une réponse proactive de la part des individus pour qu’ils cotisent d’avantage et pendant plus longtemps.

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File URL: http://dx.doi.org/10.1787/5k9181hxzmlr-en
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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Working Papers on Finance, Insurance and Private Pensions with number 28.

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Date of creation: 18 Oct 2012
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Handle: RePEc:oec:dafaad:28-en

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Related research

Keywords: uncertainty; pension benefit; projections; pensions; pension risk simulator; financial education; communication; defined contribution pension plans;

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  1. Pablo Antolín & Debbie Harrison, 2012. "Annual DC Pension Statements and the Communications Challenge," OECD Working Papers on Finance, Insurance and Private Pensions 19, OECD Publishing.
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Cited by:
  1. Stewart, Fiona, 2014. "Proving incentives for long-term investment by pension funds -- the use of outcome-based benchmarks," Policy Research Working Paper Series 6885, The World Bank.

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