Developing Annuities Markets : The Experience of Chile

Demographic aging strains pension systems around the world, leading frequently to large pension expenditures and deficits. The increasing awareness of a looming pension crisis has led to a wave of pension reforms, particularly in the last decade....

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Main Authors:	Rocha, Roberto, Thorburn, Craig
Format:	Publication
Language:	English en_US
Published:	Washington, DC: World Bank 2012
Subjects:	ANNUITIES ANNUITIES MARKETS ANNUITY ANNUITY PROVIDERS ANNUITY RATE ANNUITY RATES ASSET MANAGERS BENEFICIARIES BOND RATE BOOK VALUE CAPITAL MARKETS CAPITAL REQUIREMENTS COMMISSIONS COVERAGE DERIVATIVES DISABILITY PENSIONS DISCOUNT RATES EARLY RETIREMENT PENSIONS FINANCIAL ASSETS FINANCIAL INSTRUMENTS FIXED ANNUITIES FIXED INCOME FUTURES GUARANTEED PERIOD INDEXED ANNUITY INDEXED BONDS INDIVIDUAL ACCOUNTS INFLATION INFLATION RISK INSURANCE BROKERS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE PREMIUMS INSURANCE SUPERVISORS INTEREST RATES INTERNAL RATE OF RETURN INVESTMENT REGULATION INVESTMENT REGULATIONS INVESTMENT RETURNS JOINT ANNUITY LATIN AMERICAN LIFE ANNUITIES LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LONGEVITY RISK MARKET RISK MINIMUM BENEFIT MORTALITY TABLES OLD-AGE PENSIONS PAY AS YOU GO PAYOUT PENSION FUND PENSION FUND ADMINISTRATORS PENSION FUND PORTFOLIOS PENSION FUNDS PENSION LAW PENSION PLANS PENSION REFORM PENSION REFORMS PENSION SYSTEM PENSION SYSTEMS PENSION WEALTH PENSIONERS PORTFOLIO PORTFOLIO COMPOSITION PREMIUMS PRIVATE PENSION PRIVATE PENSION FUNDS RATES OF RETURN REGULATORY FRAMEWORK REINSURANCE REINVESTMENT RISK RESERVES RETIREES RETIREMENT RETIREMENT AGE RETIREMENT INCOME RISK MANAGEMENT RISK-FREE RATE ROA ROE SINGLE LIFE ANNUITY SOCIAL PROTECTION SOCIAL SECURITY SUPERVISORY AGENCY SWAPS TRANSPARENCY VARIABLE ANNUITIES
Online Access:	http://documents.worldbank.org/curated/en/2006/11/7224089/developing-annuities-markets-experience-chile http://hdl.handle.net/10986/7162

id	okr-10986-7162
recordtype	oai_dc
spelling	okr-10986-71622021-04-23T14:02:27Z Developing Annuities Markets : The Experience of Chile Rocha, Roberto Thorburn, Craig ANNUITIES ANNUITIES MARKETS ANNUITY ANNUITY PROVIDERS ANNUITY RATE ANNUITY RATES ASSET MANAGERS BENEFICIARIES BOND RATE BOOK VALUE CAPITAL MARKETS CAPITAL REQUIREMENTS COMMISSIONS COVERAGE DERIVATIVES DISABILITY PENSIONS DISCOUNT RATES EARLY RETIREMENT PENSIONS FINANCIAL ASSETS FINANCIAL INSTRUMENTS FIXED ANNUITIES FIXED INCOME FUTURES GUARANTEED PERIOD INDEXED ANNUITY INDEXED BONDS INDIVIDUAL ACCOUNTS INFLATION INFLATION RISK INSURANCE BROKERS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE PREMIUMS INSURANCE SUPERVISORS INTEREST RATES INTERNAL RATE OF RETURN INVESTMENT REGULATION INVESTMENT REGULATIONS INVESTMENT RETURNS JOINT ANNUITY LATIN AMERICAN LIFE ANNUITIES LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LONGEVITY RISK MARKET RISK MINIMUM BENEFIT MORTALITY TABLES OLD-AGE PENSIONS PAY AS YOU GO PAYOUT PENSION FUND PENSION FUND ADMINISTRATORS PENSION FUND PORTFOLIOS PENSION FUNDS PENSION LAW PENSION PLANS PENSION REFORM PENSION REFORMS PENSION SYSTEM PENSION SYSTEMS PENSION WEALTH PENSIONERS PORTFOLIO PORTFOLIO COMPOSITION PREMIUMS PRIVATE PENSION PRIVATE PENSION FUNDS RATES OF RETURN REGULATORY FRAMEWORK REINSURANCE REINVESTMENT RISK RESERVES RETIREES RETIREMENT RETIREMENT AGE RETIREMENT INCOME RISK MANAGEMENT RISK-FREE RATE ROA ROE SINGLE LIFE ANNUITY SOCIAL PROTECTION SOCIAL SECURITY SUPERVISORY AGENCY SWAPS TRANSPARENCY VARIABLE ANNUITIES Demographic aging strains pension systems around the world, leading frequently to large pension expenditures and deficits. The increasing awareness of a looming pension crisis has led to a wave of pension reforms, particularly in the last decade. The purpose of the report is to examine the Chilean experience in developing the market for retirement products, including programmed or phased withdrawals (PWs) and annuities, and to draw lessons for other countries that are also making efforts to develop such markets or anticipate the need to do so. The report examines the performance of the market and the evolution of the regulatory framework since the implementation of the pension reform of 1981, but with a focus on the past 10 years. 2012-06-05T19:00:20Z 2012-06-05T19:00:20Z 2007 http://documents.worldbank.org/curated/en/2006/11/7224089/developing-annuities-markets-experience-chile 978-0-8213-6666-0 http://hdl.handle.net/10986/7162 English en_US Directions in Development, Finance CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research :: Publication Latin America & Caribbean Chile
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ANNUITIES ANNUITIES MARKETS ANNUITY ANNUITY PROVIDERS ANNUITY RATE ANNUITY RATES ASSET MANAGERS BENEFICIARIES BOND RATE BOOK VALUE CAPITAL MARKETS CAPITAL REQUIREMENTS COMMISSIONS COVERAGE DERIVATIVES DISABILITY PENSIONS DISCOUNT RATES EARLY RETIREMENT PENSIONS FINANCIAL ASSETS FINANCIAL INSTRUMENTS FIXED ANNUITIES FIXED INCOME FUTURES GUARANTEED PERIOD INDEXED ANNUITY INDEXED BONDS INDIVIDUAL ACCOUNTS INFLATION INFLATION RISK INSURANCE BROKERS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE PREMIUMS INSURANCE SUPERVISORS INTEREST RATES INTERNAL RATE OF RETURN INVESTMENT REGULATION INVESTMENT REGULATIONS INVESTMENT RETURNS JOINT ANNUITY LATIN AMERICAN LIFE ANNUITIES LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LONGEVITY RISK MARKET RISK MINIMUM BENEFIT MORTALITY TABLES OLD-AGE PENSIONS PAY AS YOU GO PAYOUT PENSION FUND PENSION FUND ADMINISTRATORS PENSION FUND PORTFOLIOS PENSION FUNDS PENSION LAW PENSION PLANS PENSION REFORM PENSION REFORMS PENSION SYSTEM PENSION SYSTEMS PENSION WEALTH PENSIONERS PORTFOLIO PORTFOLIO COMPOSITION PREMIUMS PRIVATE PENSION PRIVATE PENSION FUNDS RATES OF RETURN REGULATORY FRAMEWORK REINSURANCE REINVESTMENT RISK RESERVES RETIREES RETIREMENT RETIREMENT AGE RETIREMENT INCOME RISK MANAGEMENT RISK-FREE RATE ROA ROE SINGLE LIFE ANNUITY SOCIAL PROTECTION SOCIAL SECURITY SUPERVISORY AGENCY SWAPS TRANSPARENCY VARIABLE ANNUITIES
spellingShingle	ANNUITIES ANNUITIES MARKETS ANNUITY ANNUITY PROVIDERS ANNUITY RATE ANNUITY RATES ASSET MANAGERS BENEFICIARIES BOND RATE BOOK VALUE CAPITAL MARKETS CAPITAL REQUIREMENTS COMMISSIONS COVERAGE DERIVATIVES DISABILITY PENSIONS DISCOUNT RATES EARLY RETIREMENT PENSIONS FINANCIAL ASSETS FINANCIAL INSTRUMENTS FIXED ANNUITIES FIXED INCOME FUTURES GUARANTEED PERIOD INDEXED ANNUITY INDEXED BONDS INDIVIDUAL ACCOUNTS INFLATION INFLATION RISK INSURANCE BROKERS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE PREMIUMS INSURANCE SUPERVISORS INTEREST RATES INTERNAL RATE OF RETURN INVESTMENT REGULATION INVESTMENT REGULATIONS INVESTMENT RETURNS JOINT ANNUITY LATIN AMERICAN LIFE ANNUITIES LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LONGEVITY RISK MARKET RISK MINIMUM BENEFIT MORTALITY TABLES OLD-AGE PENSIONS PAY AS YOU GO PAYOUT PENSION FUND PENSION FUND ADMINISTRATORS PENSION FUND PORTFOLIOS PENSION FUNDS PENSION LAW PENSION PLANS PENSION REFORM PENSION REFORMS PENSION SYSTEM PENSION SYSTEMS PENSION WEALTH PENSIONERS PORTFOLIO PORTFOLIO COMPOSITION PREMIUMS PRIVATE PENSION PRIVATE PENSION FUNDS RATES OF RETURN REGULATORY FRAMEWORK REINSURANCE REINVESTMENT RISK RESERVES RETIREES RETIREMENT RETIREMENT AGE RETIREMENT INCOME RISK MANAGEMENT RISK-FREE RATE ROA ROE SINGLE LIFE ANNUITY SOCIAL PROTECTION SOCIAL SECURITY SUPERVISORY AGENCY SWAPS TRANSPARENCY VARIABLE ANNUITIES Rocha, Roberto Thorburn, Craig Developing Annuities Markets : The Experience of Chile
geographic_facet	Latin America & Caribbean Chile
relation	Directions in Development, Finance
description	Demographic aging strains pension systems around the world, leading frequently to large pension expenditures and deficits. The increasing awareness of a looming pension crisis has led to a wave of pension reforms, particularly in the last decade. The purpose of the report is to examine the Chilean experience in developing the market for retirement products, including programmed or phased withdrawals (PWs) and annuities, and to draw lessons for other countries that are also making efforts to develop such markets or anticipate the need to do so. The report examines the performance of the market and the evolution of the regulatory framework since the implementation of the pension reform of 1981, but with a focus on the past 10 years.
format	Publications & Research :: Publication
author	Rocha, Roberto Thorburn, Craig
author_facet	Rocha, Roberto Thorburn, Craig
author_sort	Rocha, Roberto
title	Developing Annuities Markets : The Experience of Chile
title_short	Developing Annuities Markets : The Experience of Chile
title_full	Developing Annuities Markets : The Experience of Chile
title_fullStr	Developing Annuities Markets : The Experience of Chile
title_full_unstemmed	Developing Annuities Markets : The Experience of Chile
title_sort	developing annuities markets : the experience of chile
publisher	Washington, DC: World Bank
publishDate	2012
url	http://documents.worldbank.org/curated/en/2006/11/7224089/developing-annuities-markets-experience-chile http://hdl.handle.net/10986/7162
_version_	1764399235952803840

Developing Annuities Markets : The Experience of Chile

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