The current Chilean pension reform de facto buries obligations to the elder generations, so our informant was sceptical about it, and said it was "of small interest" to Russia.
Chile's chances to invest pension fund money in Russia were prominent at previous similar conferences, but did not come up today.
As Chilean achievements show, government pension accumulation investment promises not merely to cope with domestic economic problems but afford overseas investment, added our interviewee.
On an arrangement underway in Chile for twenty years now, retired employees receive their pensions via special private offices under close government monitoring. These offices are not to take up whatever other activities. Every employed Chilean has 10% of his earnings deduced on his pension account, and another 2% against accidents or the loss of breadwinner. An employee who wants to retire before an established pension age is free to make greater deductions. The arrangement provides for decent pensions.
