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La Arquitectura De Elección Mejora La Selección De Pensiones

Author

Listed:
  • Raymond Duch
  • Paulina Granados
  • Denise Laroze
  • Mauricio Lopez
  • Marian Ormeño
  • Ximena Quintanilla

    (Studies Division, Chilean Pension Supervisor)

Abstract

Los afiliados al sistema de pensiones privado en Chile que optan por pensionarse no seleccionan la mejor oferta de pensión (“el mejor valor presente neto”) ofrecida por los proveedores disponibles (FNE 2018). Los reguladores presentan a los solicitantes de pensión un informe comparativo de las ofertas de pensión ordenadas descendentemente según monto ofrecido, presentando también la clasificación de riesgo del proveedor respectivo. Un experimento de campo implementado en Chile explora presentaciones alternativas del desempeño del proveedor. Se realizan distintos “tratamientos” donde se modifica la presentación del informe comparativo respecto del vigente al momento del experimento. Dos opciones de diseño claramente mejoraron el bienestar del consumidor en este experimento. Primero, la reducción de la cantidad de información mejoró la elección, específicamente dejando en un segundo plano la clasificación de riesgo de los proveedores, lo que llevó a mejores decisiones por parte de los sujetos experimentales. En segundo lugar, la adopción de un marco de pérdidas también dio como resultado que los sujetos experimentales seleccionasen proveedores que generaban mayores retornos. Las ganancias al modificar la presentación de la información fueron considerablemente mayores para aquellos individuos con niveles de alfabetización financiera más baja. Este estudio se llevó a cabo en asociación con la Superintendencia de Pensiones (SP) y la Comisión para el Mercado Financiero (CMF), dos de las instituciones públicas que supervisan el mercado de pensiones en Chile.

Suggested Citation

  • Raymond Duch & Paulina Granados & Denise Laroze & Mauricio Lopez & Marian Ormeño & Ximena Quintanilla, 2021. "La Arquitectura De Elección Mejora La Selección De Pensiones," Working Papers 66, Superintendencia de Pensiones, revised Jan 2021.
    • Handle: RePEc:sdp:sdpwps:66
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    References listed on IDEAS

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    Sistema de Pensiones de contribución definida;

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