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Efectos de Largo Plazo de la Comisión Fija en el Sistema Chileno de AFP

Author

Listed:
  • Rubén Castro

    (Studies Division, Chilean Pension Supervisor)

Abstract

Las comisiones fijas (CF) en el Sistema Chileno rara vez han significado más del 10% del total de ingresos por comisiones de las AFP, aunque sí se observa que han respondido a las diferentes fases normativas y competitivas de la industria. La eliminación de la CF produciría diversos efectos, entre ellos: a) incentivaría la competencia y probablemente reduciría los beneficios de las AFP, disminuyendo a la vez la oferta de productos a los trabajadores de menor salario, b) dichos trabajadores verían incrementadas sus pensiones entre 15% y 20% gracias a que sus saldos ya no pagarían la CF, c) los subsidios cruzados entre afiliados crecerían bastante a favor de los salarios más bajos y de buena densidad de cotizaciones sin que ello implique un gran esfuerzo para los salarios altos, y d) el impacto en el gasto en garantía estatal sería bastante bajo, llegando alrededor del año 2025 a ser 5,5% menor a la situación con comisión fija..

Suggested Citation

  • Rubén Castro, 2005. "Efectos de Largo Plazo de la Comisión Fija en el Sistema Chileno de AFP," Working Papers 9, Superintendencia de Pensiones, revised Aug 2005.
    • Handle: RePEc:sdp:sdpwps:9
    as

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    File URL: https://repec.spensiones.cl/repec/3_doctrabajos/9_2005_efectos_largo_plazo_comision_fija_sistema_chileno_afp.pdf
    File Function: Revised version, 2005
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    References listed on IDEAS

    as
    1. Solange Berstein, 2002. "Two-Part Tariff Competition With Switching Costs and Sales Agents," Working Papers Central Bank of Chile 162, Central Bank of Chile.
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    Cited by:

    1. Sam Flanders & Melati Nungsari & Marcela Parada‐Contzen, 2020. "Pricing schemes and market efficiency in private retirement systems," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(4), pages 1041-1068, August.
    2. Oscar Martínez A. & Andrés Murcia Pabón, 2008. "Sistema de comisiones de las Administradoras de Fondos de Pensiones en Colombia," Temas de Estabilidad Financiera 033, Banco de la Republica de Colombia.
    3. Hidalgo, Pedro & Manzur, Enrique & Olavarrieta, Sergio & Fari­as, Pablo, 2008. "Customer retention and price matching: The AFPs case," Journal of Business Research, Elsevier, vol. 61(6), pages 691-696, June.

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