The Payout Stage in Chile: Who Annuitizes and Why?
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..
References listed on IDEAS
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- Valdes-Prieto, Salvador, 1998. "Risks in pensions and annuities : efficient designs," Social Protection and Labor Policy and Technical Notes 20847, The World Bank.
- 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,"
wp063, University of Michigan, Michigan Retirement Research Center.
- Dus, Ivica & Maurer, Raimond H. & Mitchell, Olivia S., 2004. "Betting on death and capital markets in retirement: A shortfall risk analysis of life annuities versus phased withdrawal plans," CFS Working Paper Series 2004/01, Center for Financial Studies (CFS).
- 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.
- David McCarthy & Olivia S. Mitchell, 2003. "International Adverse Selection in Life Insurance and Annuities," NBER Working Papers 9975, National Bureau of Economic Research, Inc.
- 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)
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