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La Importancia de la Opción por Omisión en los Sistemas de Pensiones de Cuentas Individuales

Author

Listed:
  • Solange Berstein
  • Olga Fuentes
  • Nicolás Torrealba

    (Studies Division, Chilean Pension Supervisor)

Abstract

En un sistema de capitalización individual uno de los principales riesgos que se enfrentan se refiere al de inversión de los fondos. En este contexto, se analiza el sustento de optar por estrategias de inversión de ciclo de vida como mecanismo mitigador del riesgo de las inversiones. Sobre esta base se analiza la importancia de la opción por omisión a la luz del comportamiento económico de los afiliados, caracterizado por un bajo conocimiento financiero, inercia y miopía en la toma de decisiones. La evaluación de estas estrategias se discute utilizando una metodología que reconoce como medida de riesgo adecuada aquella que toma en cuenta los riesgos relevantes del afiliado y el horizonte de inversión de los fondos, es decir, considera una medida de riesgo de pensión de largo plazo..

Suggested Citation

  • Solange Berstein & Olga Fuentes & Nicolás Torrealba, 2011. "La Importancia de la Opción por Omisión en los Sistemas de Pensiones de Cuentas Individuales," Working Papers 44, Superintendencia de Pensiones, revised Jan 2011.
    • Handle: RePEc:sdp:sdpwps:44
    as

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    References listed on IDEAS

    as
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    Cited by:

    1. Sánchez Martín, A. & Jiménez Martín, S. & Robalino, D. & Todeschini, F., 2012. "Labor Income and the Design of Default Portfolios in Mandatory Pension Systems: An Application to Chile," Working Papers 2012-04, FEDEA.

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