Pension Payouts in Chile: Past, Present, and Future Prospects
35 Pages Posted: 23 Sep 2009 Last revised: 26 Nov 2011
Date Written: September 22, 2009
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
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