PARC Working Papers
Document Type
Working Paper
Date of this Version
8-2009
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
Defined contribution, Payout market, Phased withdrawal, Life annuity
COinS
Included in
Demography, Population, and Ecology Commons, Economics Commons, Finance and Financial Management Commons
Date Posted: 01 September 2009
Comments
Mitchell, Olivia S. and Jose Ruiz. 2009. "Pension Payouts in Chile: Past, Present, and Future Prospects." PARC Working Paper Series, WPS 09-02.