Synopsis The report provides in-depth industry analysis, information and insights into employee benefits in Chile, including: An overview of state and compulsory benefits in Chile Detailed information about private benefits in Chile Insights into various central institutions responsible for the administration of the different branches of social security The regulatory framework and recent regulations relating to Chilean employee benefits Executive summary Chile was one of the first countries in the Americas to set up state-sponsored social security cover. The country’s pension system consists of multiple pillars: a non-contributory first pillar, a fully funded second pillar and a voluntary third pillar. In 1981, a new privatized system was introduced to carry out social security schemes. These programs are administered by private sector insurance companies called pension fund managers and the state is in charge of the regulations. Under this new system, formal employees are mandated to contribute to the personal account which is managed by a pension fund manager. Scope This report provides a detailed analysis of employee benefits in Chile: It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits It covers an exhaustive list of employee benefits, including retirement benefits , death-in-service benefits, long-term disability benefits, short-term sickness, medical benefits, workmen’s compensation, maternity and paternity benefits, family benefits, unemployment, leave and holidays, termination indemnities and private benefits It highlights the economic and regulatory situations relating to employee benefits in Chile Reasons to buy Make strategic decisions using in-depth information related to Chilean employee benefits Assess the Chilean employee benefits market, including state and compulsory benefits and private benefits Gain insights into the key employee benefit schemes offered by private employers in Chile Gain insights into key regulations governing Chilean employee benefits, and their impact on companies Key highlights Chile has a comprehensive social security system that protects citizens from illness, disability, old age, unemployment and poverty. The voluntary savings plan can be either in the form of an individual selected plan or employer-sponsored plans Ahorro Previsional Voluntario Colectivo (Collective Voluntary Savings Plan − APVC) introduced in 2008. Employer-sponsored pension plans are not commonly offered in the Chilean employee benefits market, however as more multinational companies enter the market there has been a sudden increase in interest among employers.

1. Employee Benefits in Chile
Synopsis
The report provides in-depth industry analysis, information and insights into employee benefits in Chile, including:
An overview of state and compulsory benefits in Chile Detailed information about private benefits in Chile Insights into various central institutions responsible
for the administration of the different branches of social security The regulatory framework and recent regulations relating to Chilean employee benefits
Executive summary
Chile was one of the first countries in the Americas to set up state-sponsored social security cover. The country’s pension system consists of multiple
pillars: a non-contributory first pillar, a fully funded second pillar and a voluntary third pillar. In 1981, a new privatized system was introduced to carry out social
security schemes. These programs are administered by private sector insurance companies called pension fund managers and the state is in charge of the
regulations. Under this new system, formal employees are mandated to contribute to the personal account which is managed by a pension fund manager.
Scope
This report provides a detailed analysis of employee benefits in Chile:
It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits It covers an exhaustive list of employee benefits,
including retirement benefits , death-in-service benefits, long-term disability benefits, short-term sickness, medical benefits, workmen’s compensation,
maternity and paternity benefits, family benefits, unemployment, leave and holidays, termination indemnities and private benefits It highlights the economic and
regulatory situations relating to employee benefits in Chile
Reasons to buy
Make strategic decisions using in-depth information related to Chilean employee benefits Assess the Chilean employee benefits market, including state and
compulsory benefits and private benefits Gain insights into the key employee benefit schemes offered by private employers in Chile Gain insights into key
regulations governing Chilean employee benefits, and their impact on companies
Key highlights
Chile has a comprehensive social security system that protects citizens from illness, disability, old age, unemployment and poverty. The voluntary savings plan
can be either in the form of an individual selected plan or employer-sponsored plans Ahorro Previsional Voluntario Colectivo (Collective Voluntary Savings Plan
− APVC) introduced in 2008. Employer-sponsored pension plans are not commonly offered in the Chilean employee benefits market, however as more
multinational companies enter the market there has been a sudden increase in interest among employers.
table Of Contents
1 Executive Summary
2 Introduction
2.1 What Is This Report About?
2.2 Definitions
3 Country Statistics
4 Overview Of Employee Benefits In Chile
5 Regulations
6 State And Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Eligibility
6.1.3 Age
6.1.4 Benefits
6.1.5 Payment Options
6.1.6 Typical Employer Practice
6.1.7 Employee And Employer Contributions
6.2 Death In Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment Options
6.2.5 Typical Employer Practice
6.2.6 Employee And Employer Contributions
6.3 Long-term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
Employee Benefits in Chile

2. 6.3.3 Benefits
6.3.4 Payment Options
6.3.5 Typical Employer Practice
6.3.6 Employee And Employer Contributions
6.4 Short-term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment Options
6.4.5 Typical Employer Practice
6.4.6 Employee And Employer Contributions
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Typical Employer Practice
6.5.5 Employee And Employer Contributions
6.6 Workmen’s Compensation
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment Options
6.6.5 Employee And Employer Contributions
6.7 Maternity And Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment Options
6.7.5 Employee And Employer Contributions
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment Options
6.8.5 Employee And Employer Contributions
6.9 Unemployment
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment Options
6.9.5 Employee And Employer Contributions
6.10 Leave And Holidays
6.10.1 Annual Leave
6.10.2 Public Holidays
6.10.3 Weekly Rest Days
6.11 Termination Indemnities
7 Private Benefits
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Sickness Benefits
7.5 Medical Benefits
7.6 Other Benefits
8 Macroeconomic Indicators
8.1 Economic Performance
8.1.1 Gdp At Constant Prices (us$)
8.1.2 Gdp Per Capita At Constant Prices (us$)
8.1.3 Gdp At Current Prices (us$)
8.1.4 Gdp Per Capita At Current Prices (us$)
8.1.5 Gdp By Key Sectors
8.1.6 Inflation Rate
8.1.7 Annual Average Exchange Rate Us$–clp
8.1.8 Unemployment Rate
8.1.9 Household Consumption Expenditure
8.1.10 Gross National Disposable Income
8.2 Demographics
8.2.1 Total Population
8.2.2 Labor Force
Employee Benefits in Chile

3. 8.2.3 Urban And Rural Population
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric’s Services
9.5 Disclaimer
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Employee Benefits in Chile