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The Payout Stage in Chile: Who Annuitizes and Why?

Author

Listed:
  • Estelle James
  • Guillermo Martinez
  • Augusto Iglesias

    () (Studies Division, Chilean Pension Supervisor)

Abstract

El año 1981 Chile adoptó su nuevo sistema de pensiones caracterizado por la existencia de cuentas de ahorro individual. En 1983 el nuevo sistema comenzó a pagar pensiones, existiendo un conjunto de reglas muy detalladas que se aplican al cálculo y procedimientos de contratación de los beneficios. En consecuencia, el sistema chileno nos ofrece una oportunidad para examinar cómo los pensionados y los proveedores de pensiones reaccionan cuando un sistema de capitalización individual reemplaza a un sistema de beneficios definidos, y cómo las regulaciones influyen sobre estos comportamientos..

Suggested Citation

  • Estelle James & Guillermo Martinez & Augusto Iglesias, 2005. "The Payout Stage in Chile: Who Annuitizes and Why?," Working Papers 14, Superintendencia de Pensiones, revised May 2007.
  • Handle: RePEc:sdp:sdpwps:14
    as

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    File URL: http://www.spensiones.cl/redirect/files/doctrab/DT00014.pdf
    File Function: Revised version, 2007
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    References listed on IDEAS

    as
    1. Ivica Dus & Raimond Maurer & Olivia S. Mitchell, 2003. "Betting on Death and Capital Markets in Retirement: A Shortfall Risk Analysis of Life Annuities versus Phased Withdrawal Plans," Working Papers wp063, University of Michigan, Michigan Retirement Research Center.
    2. Alberto Arenas de Mesa & Jere Behrman & David Bravo, 2001. "Characteristics of and determinants of the density of contributions in a Private Social Security System," Working Papers wp077, University of Michigan, Michigan Retirement Research Center.
    3. Valdes-Prieto, Salvador, 1998. "Risks in pensions and annuities : efficient designs," Social Protection and Labor Policy and Technical Notes 20847, The World Bank.
    4. David McCarthy & Olivia S. Mitchell, 2003. "International Adverse Selection in Life Insurance and Annuities," NBER Working Papers 9975, National Bureau of Economic Research, Inc.
    5. Saul Pleeter & John T. Warner, 2001. "The Personal Discount Rate: Evidence from Military Downsizing Programs," American Economic Review, American Economic Association, vol. 91(1), pages 33-53, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Pension system; program withdrawal; annuities;

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