Pension Payouts in Chile: Past, Present, and Future Prospects

35 Pages Posted: 23 Sep 2009 Last revised: 26 Nov 2011

See all articles by Olivia S. Mitchell

Olivia S. Mitchell

University of Pennsylvania - The Wharton School; University of Pennsylvania - The Wharton School, Pension Research Council; National Bureau of Economic Research (NBER)

Jose Ruiz

affiliation not provided to SSRN

Date Written: September 22, 2009

Abstract

One of the most interesting features of the Chilean pension system is that approximately two-thirds of all retirees purchase annuities, resulting in annuitization rates much higher than in other countries. In this paper we review recent developments in the payout market for Chilean pensions, focusing particularly on the role of annuities, and we discuss what makes the payout market in Chile so different from those in other nations.

Keywords: annuitiy, pension, Chile, system, benefits, balance, mortality, scomp, payments, retirement, insurance

Suggested Citation

Mitchell, Olivia S. and Ruiz, Jose, Pension Payouts in Chile: Past, Present, and Future Prospects (September 22, 2009). Pension Research Council WP 2009-07, Available at SSRN: https://ssrn.com/abstract=1477071 or http://dx.doi.org/10.2139/ssrn.1477071

Olivia S. Mitchell (Contact Author)

University of Pennsylvania - The Wharton School ( email )

Philadelphia, PA 19104-6365
United States

University of Pennsylvania - The Wharton School, Pension Research Council ( email )

3302 Steinberg Hall-Dietrich Hall
3620 Locust Walk
Philadelphia, PA 19104-6302
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Jose Ruiz

affiliation not provided to SSRN ( email )

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