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2008: Law 20.255 strengthens the non-contributory pillar introducing new benefits for the elderly poor, introduces an auction mechanism of new members based on management fees to increase competition between Pension Fund Administrators (AFPs by its Spanish acronym), promotes gender equity, and establishes a more flexible investment regime for AFPs, among other adjustments.
2004: Law 19.934 modifies the pay-our rules, introducing a new methodology for calculating life annuities.
Regulations of DL 3.500 regulates asset management, the operation of AFPs, the collection of contributions and its enforcement and the transfer of individual accounts from one AFP to another.
1980: DL 3.500 creates the mandatory private pension scheme, regulates the creation and operation of AFPs, asset management and protection of rights.
1980: DFL 101 of the Ministry of Labour and Social Security creates the Superintendence of AFPs (Superintendencia de Administradoras de Fondos de Pensiones - SAFP) further knows as Superintendence of Pensions (SP) and regulates its structure, functions and powers.
Last survey reply: 01 июля 2012
Last ISSA update: 01 июля 2012