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Fondos de Pensiones: ¿Existe un líder en rentabilidad?

Author

Listed:
  • Daniel Lara

    (ILADES – Universidad Alberto Hurtado)

  • Fernando López

    (ILADES – Universidad Alberto Hurtado)

  • Andrés Morgado

    (ILADES – Universidad Alberto Hurtado)

Abstract

Este estudio analiza las rentabilidades de los fondos de pensiones de las AFP vigentes en el periodo 1981-2015. Los resultados muestran que no hubo diferencias significativas en las rentabilidades alcanzadas por los fondos de las AFP consideradas. Consecuentemente, se observa que las AFP más caras no ofrecieron mayores rentabilidades a sus afiliados que sus contrapartes más baratas. Al analizar el problema de elección de AFP sobre la base de las comisiones vigentes al mes de agosto de 2016, los resultados sugieren que la mayoría de los afiliados se beneficiarían seleccionando la AFP más barata. Este resultado contrasta con el hecho que, a mayo de 2016, más de un 75% de los trabajadores se encontraban afiliados a las cuatro AFP más caras de la industria.

Suggested Citation

  • Daniel Lara & Fernando López & Andrés Morgado, 2016. "Fondos de Pensiones: ¿Existe un líder en rentabilidad?," ILADES-UAH Working Papers inv315, Universidad Alberto Hurtado/School of Economics and Business.
    • Handle: RePEc:ila:ilades:inv315
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    More about this item

    Keywords

    AFP; Fondos de Pensiones; Competencia AFP;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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