Wharton Pension Research Council Working Papers
 

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

Olivia S. Mitchell, The Wharton School, University of Pennsylvania
Jose Ruiz, The Wharton School, University of Pennsylvania

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.

 

Date Posted: 23 August 2019