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Potencialidad del desarrollo de hipotecas inversas como complemento pensionario: el caso de Chile

Author

Listed:
  • Javier Alonso
  • David Tuesta
  • Maria Lamuedra

Abstract

Las hipotecas inversas se han venido constituyendo en una alternativa para generar flujos de ingresos liquidos durante la etapa de jubilacion en algunos paises desarrollados. Teniendo en cuenta que los riesgos de menores recursos durante la etapa de vejez suelen ser enfrentados con un abanico amplio de fuentes de financiamiento, el presente trabajo analiza las potencialidades del desarrollo de las hipotecas inversas como alternativa de ingresos para la vejez. El trabajo se centra en el estudio de caso de Chile a partir de informacion de encuestas nacionales en las que se traza el comportamiento de individuos representativos segmentados por quintiles de ingresos. Bajo supuestos razonables se observa su evolucion entre el periodo 2010-2050. Se encuentra que las tasas de sustitucion de las pensiones se incrementan en casi 30 puntos como consecuencia de incorporar rentas vitalicias con base a los activos inmobiliarios. Este resultado refuerza el concepto de establecer no solamente politicas enfocadas en mejorar los esquemas formales de pensiones, sino tambien en facilitar mecanismos financieros privados que permitan generar otros flujos adecuados de ingresos para la vejez a partir de otros activos.

Suggested Citation

  • Javier Alonso & David Tuesta & Maria Lamuedra, 2013. "Potencialidad del desarrollo de hipotecas inversas como complemento pensionario: el caso de Chile," Working Papers 1309, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:1309
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    Citations

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    Cited by:

    1. Donoso, José & Ruiz, José Luis & Tapia, Pablo, 2019. "The social and economic effects of introducing reverse mortgages in Chile," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    2. Carmen Hoyo & David Tuesta, 2013. "Financiando la jubilacion con activos inmobiliarios: un analisis de caso para Mexico," Working Papers 1334, BBVA Bank, Economic Research Department.

    More about this item

    Keywords

    pensiones privadas; fondos de pensiones; hipoteca inversa; contribucion definida;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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