REPLACEMENT RATES IN THE CHILEAN PENSION SCHEME AND PROJECTIONS UNDER DIFFERENT SCENARIOS

Superintendencia de Pensiones and Dirección de Presupuestos del Ministerio de Hacienda
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Dirección de Presupuestos del Ministerio de Hacienda: Studies Division, Chilean Pension Supervisor

No 73, Working Papers from Superintendencia de Pensiones

Abstract: The adequacy and sufficiency of pensions systems are key at evaluating its performance. This report intends to look at them both from a rather elusive measurement: the replacement rate. Although this is not an unknown indicator, its calculation entails tricky challenges since depending on the measurement of pension benefits (its numerator) and income (its denominator) both the results and interpretation may vary greatly. Considering these challenges, we calculate this indicator for current pensioners, focusing on the years 2015-2022 and for future pensioners with the projection model of the Chilean Budget Office of the Ministry of Finance and a selection of synthetic cases.

Keywords: Tasas de reemplazo; Sistema de pensiones de contribución definida; Mercado laboral; empleo (search for similar items in EconPapers)
Pages: 1 pages
Date: 2024-01, Revised 2024-01
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