Premium Essay

The Pros and Cons in Chilean Pension System

In:

Submitted By CurtisChen
Words 361
Pages 2
The pros
1 the system is not rely on the demographic trends it doesn't matter how many people will be in the system you will get you pay due to the fact that is no bases on Ponzi pyramid
2 their salary could generate more money
Workers can have different investments to choose, there are five types of funds which could generate more money from their salary.
3 people only responsible of their retirement fund
4 the system has less social burden for the government
Because the system is run/managed private sector, their government don’t have to take amount of money for the dole, and they can just focus on how to maintain their GDP and improve their economic growth.
5 their wages are higher
Compare to the Spanish pension system, workers in Spain have to contribute 21% of their salary including the dole& health insurance& retirement payment, workers in Chile only have to contribute 10% of their salary for their retirement payment and 3% for the disabilities. So the balance of their salary is much higher.

The cons
1 funds must be highly regulated
2 more types of funds to invest give them more risk
It is easy to know that if they invest in higher rate of return, and the degree/level of risk is much higher, some low wages workers would choose high return funds to generate more money back but they don’t take into consideration for the risk.
3 dole and health insurance are not mandatory.
Compare with the Spanish system which includes dole and health insurance, it is not good for the unemployed people.
4 high administrative cost
The administrative fees are high due the high profit of the investments and because fund manager have to invest in new information technology and marketing tools.
5 Low coverage rates
A large portion of the labor force has not been covered and workers in the system include those who do not make contribution because they spend much

Similar Documents

Premium Essay

Osler Doing Biz in Canada

...of Québec as well as overlapping regulatory jurisdiction among various levels of government in certain areas of the law. With few exceptions, the same considerations apply to Canadians who live, work and conduct business in Canada. Despite the ongoing harmonization of many areas of Canadian business law with those of our major trading partners through international agreements, addressing distinctly Canadian business law requirements is a crucial consideration when entering the Canadian marketplace. Each chapter is designed to assist you with an overview of that particular subject and the laws most likely to affect your business decisions. Beginning with an introduction to Canada’s legal system as it applies to businesses, the guide includes an introduction to Canada’s tax system, the pensions and retirement savings landscape in Canada, foreign investment considerations, competition law, and details on doing business in Québec, to name a few topics. Doing Business in Canada does not contain a full analysis of the law. This guide provides general information only and does not constitute legal or other...

Words: 29595 - Pages: 119

Premium Essay

Pdf, Doc

...Responsibilities; Environmental Factors of HRM: Environmental Factors, Challenges to HRM. Concepts and Process of Human Resource Planning Human Resource Planning: Importance, Process, Barriers; Strategic Planning; Human Resource Information Systems (HRIS); Forecasting Demands: Forecasting Supply; Man Power Forecasting. Emerging Trends in HRM Outsourcing and its HR Dimensions; Human Resource Planning and Downsizing: Voluntary Redundancy and Ways of Downsizing Processing; Importance of Bench Marking; Case Study: Bench Marking VRS Practices and Compensation Management. Job Analysis: Recruitment and Selection Job Analysis: 6 Steps, Job Description vs. Job Specification, Methods of Collecting Job Analysis Information; Role of Recruitment and Selection: Situational Factors in Recruitment, Recruitment Policy, External and Internal Sources of Recruiting and its Merits and Demerits, Selection Process and its Types, Structured Interview Guide. Training and Development Orientation; Training and Development; the Steps in Training Process; Career and Succession Planning: Career Stages, Career Development, Career Management Succession Planning; Case Discussion on Succession Planning. Compensation Introduction: Meaning, Objectives of Compensation; Components of Compensation System; Compensation Management Process; Factors of Determining Pay Rates; Pay Incentives; Employee Benefits and Services; Case Study: Comparing Industry Trends in Pay Rates such as FMCG. Performance Appraisal Introduction; Methods of...

Words: 99065 - Pages: 397

Premium Essay

Poverty Diemnsions

...JOSÉ LUIS MACHINEA Executive Secretary ALICIA BÁRCENA Deputy Executive Secretary Economic Commission for Latin America and the Caribbean economic commission for latin america and the caribbean C E P A L Review NUMBER 85 APRIL 2005 SANTIAGO, CHILE OSCAR ALTIMIR Director REYNALDO BAJRAJ Deputy Director The CEPAL Review was founded in 1976 and is published three times a year by the United Nations Economic Commission for Latin America and the Caribbean, which has its headquarters in Santiago, Chile. The Review, however, has full editorial independence and follows the usual academic procedures and criteria, including the review of articles by independent external referees. The Review is distributed to universities, research institutes and other international organizations, as well as to individual subscribers, and is also consulted extensively on the Internet. The purpose of the Review is to contribute to the discussion of socio-economic development issues in the region by offering analytical and policy approaches and articles by economists and other social scientists working both within and outside the United Nations. Accordingly, the editorial board of the Review extends its readers an open invitation to submit for publication articles analysing various aspects of economic and social development in Latin America and the Caribbean. The opinions expressed in the signed articles are those of the authors and do not necessarily reflect the views of the...

Words: 105806 - Pages: 424

Premium Essay

65 Successful Harvard Business School Application Essays 2nd Edition 1

...BUSINESS SCHOOL HARVARD SUCCESSFUL 65 APPLICATION SECOND EDITION E S S AY S APPLICATION BUSINESS SCHOOL HARVARD SUCCESSFUL 65 ECSNS A IYI O N S SE O D ED T With Analysis by the Staff of The Harbus, the Harvard Business School Newspaper ST. MARTIN’S GRIFFIN NEW YORK 65 SUCCESSFUL HARVARD BUSINESS SCHOOL APPLICATION ESSAYS, SECOND EDITION. Copyright © 2009 byThe Harbus News Corporation. All rights reserved. Printed in the United States of America. For-information, address St. Martin's Press, 175 Fifth Avenue, New York, N.Y. 10010. www.stmartins.com Library of Congress Cataloging...in..Publication Data 65 successful Harvard Business -School application essays : with analysis by the staff of The Harbus, the Harvard Business School newspaper / Lauren Sullivan and the staff of The Harbus.-2nd ed. p.em. ISBN 978...0..312...55007...3 1. Business schools-United States-Admission. 2. Exposition (Rhetoric) 3. Essay-Authorship. 4. Business writing. 5. Harvard Business School. 1. Sullivan, Lauren. II. Harbus. III. Title: Sixty...five successful Harvard Business School application essays. HF1131.A1352009 808'.06665-dc22 2009012531 First Edition: August 2009 10 9 8 7 6 5 4 3 2 1 CONTENTS Acknowledgments Introduction ix xi I. Defining Moment Stacie Hogya Anonymous Anonymous David La Fiura Anonymous Avin Bansal Anonymous Brad Finkbeiner Anonymous 4 7 10 13 17 20 23 26 29 ii. UndergradUate experience John Coleman Maxwell Anderson...

Words: 47268 - Pages: 190

Premium Essay

Nike

...NIKE INC FORMReport) 10-K (Annual Filed 07/23/13 for the Period Ending 05/31/13 Address Telephone CIK Symbol SIC Code Industry Sector Fiscal Year ONE BOWERMAN DR BEAVERTON, OR 97005-6453 5036713173 0000320187 NKE 3021 - Rubber and Plastics Footwear Footwear Consumer Cyclical 05/31 http://www.edgar-online.com © Copyright 2013, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED May 31, 2013 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission File No. 1-10635 (Exact name of Registrant as specified in its charter) OREGON (State or other jurisdiction of incorporation) One Bowerman Drive Beaverton, Oregon (Address of principal executive offices) (503) 671-6453 93-0584541 (IRS Employer Identification No.) 97005-6453 (Zip Code) (Registrant’s Telephone Number, Including Area Code) SECURITIES REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT: Class B Common Stock (Title of Each Class) New York Stock Exchange (Name of Each Exchange on Which Registered) SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT: NONE Indicate by check mark • • • if the registrant is a well-known...

Words: 108131 - Pages: 433

Free Essay

Gov and Pol

...Edexcel AS Politics Edexcel AS Politics ExamBuster 2009 Introduction to Unit 1- People and Politics Understanding the Examination and Exam Technique Choosing your questions In this unit you are presented with four questions. They are of equal value and each question covers one of the four sections of the specification. These are: Democracy and political participation Party policies and ideas Elections Pressure groups There is no significance to the order in which questions appear. Each question is divided into three sections (a), (b) and (c). When choosing which questions to do, the following principles are recommended: It is almost certain that you will be better off choosing your strongest question to do first. You should choose questions on the basis of how well you can answer the section (c) part. The (c) part carries 25 of the 40 marks available for the whole answer. Do not choose a question simply because you can do part (a) especially well. The (a) question is only worth 5 marks. It would be illogical to choose your strongest (a) part if you cannot do well on section (c). If you cannot decide between several (c) parts, i.e. you can do more than one equally well, make your choice on the basis of part (b) which carries 10 marks. But remember, it is the (c) parts that will determine most what your overall mark will be. So, when you first look at the exam paper, look at the (c) sections first. Assessment Objectives Each question is divided into three sections,...

Words: 51996 - Pages: 208

Free Essay

Financial Scandals and the Role of Private Enforcement: the Parmalat Case

...Financial Scandals and the Role of Private Enforcement: The Parmalat Case Law Working Paper N° 40/2005 May 2005 Guido Ferrarini University of Genoa, Centre for Law and Finance and ECGI Paolo Giudici Free University of Bozen and Centre for Law and Finance © Guido Ferrarini and Paolo Giudici 2005. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. This paper can be downloaded without charge from: http://ssrn.com/abstract=730403 www.ecgi.org/wp ECGI Working Paper Series in Law Financial Scandals and the Role of Private Enforcement: The Parmalat Case Working Paper N° 40/2005 May 2005 Guido Ferrarini Paolo Giudici This Working Paper is based upon a draft prepared for the EU Corporate Law Making Conference (Cambridge, October 29-30, 2004) organized by Harvard Law School and the Swiss Federal Institute of Technology (ETH Zurich). The authors are grateful to Gerard Hertig, Mark Roe, Donald Langevoort, and other conference participants for helpful comments. Drafts of this paper were also presented at the Yale Law School Alumni Meeting on October 8-10, 2004; at a meeting of the Associazione Via Isonzo held in Milan on October 10, 2004; and at a seminar at the Institute of Law and Finance (ILF), University of Frankfurt, on January 18, 2005. The authors are grateful to Theodore Baums, Andreas Cahn, Carmine Di Noia, Jon Macey,...

Words: 25640 - Pages: 103

Premium Essay

Dano

...NE 2012 DANO LITY ABI TAIN SUS RT EPO R ance Perform and Strategy IC RATEG TS ST LIGH HIGH For All, Health, Nature People, E RmAnC fo GRI pERoRS T IndICA SUSTAINABILITY REPORT 2012 STRATEgY 4 EDITORIAL FRANCK RIBOUD 6 KEY SOCIAL TOPICS NUTRITION AND HEALTH ISSUES SOCIAL ISSUES ENVIRONMENTAL ISSUES 7 10 12 14 STRATEgY 2012 HIgHLIgHTS HEALTH FOR ALL PEOPLE NATURE 15 22 28 34 40 MEASURINg PROgRESS AND PERFORMANCE THROUgHOUT THE VALUE CHAIN DANONE WAY RESPECT DANONE’S EVALUATION BY NON-FINANCIAL RATING AGENCIES 41 46 56 HISTORICAL APPROACH AND HIgHLIgHTS REFERENCE DOCUMENTS HIGHLIGHTS AND KEY DATES 1972-2012 57 58 50 2 Danone Sustainability Report 2012 PERFORMANCE 62 gRI INDEx Self-evaluation of the application of GRI according to version 3.0 guidelines for the GRI with approval by KPMG Audit. 72 IMPACTS AND RESPONSIBILITIES IN BUSINESS, FROM END TO END 74 COMPANY PROFILE AND REPORT PARAMETERS COMPANY PROFILE REPORT PARAMETERS VALIDATION OF THE REPORT BY AN EXTERNAL THIRD PARTY 75 76 83 86 PERFORMANCE INDICATORS GOVERNANCE, COMMITMENTS AND DIALOGUE ECONOMIC ENVIRONMENTAL SOCIAL HUMAN RIGHTS SOCIETY PRODUCT RESPONSIBILITY 86 94 102 134 152 158 166 176 CONTACTS Danone Sustainability Report 2012 3 SUSTAINABILITY REPORT 2012 EDITORIAL FRANCK RIBOUD he year 2012 confirmed in spectacular manner the profound shift in the global economy that is gathering pace. On the one hand, new economic powers...

Words: 48350 - Pages: 194

Premium Essay

Multinational Corporation

...Singapore South Korea Switzerland Thailand Turkey Ukraine Vietnam Copyright # 2007 by Oxford University Press Published by Oxford University Press, Inc. 198 Madison Avenue, New York, New York 10016 www.oup.com Oxford is a registered trademark of Oxford University Press All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Oxford University Press. Library of Congress Cataloging-in-Publication Data Cohen, Stephen D. Multinational corporations and foreign direct investment: avoiding simplicity, embracing complexity / Stephen D. Cohen. p. cm. Includes index. ISBN-13 978-0-19-517935-4; 978-0-19-517936-1 (pbk.) ISBN 0-19-517935-8; 0-19-517936-6 (pbk.) 1. International business enterprises—Finance. 2. Investments, Foreign. I. Title. HG4027.5.C64 2006 332.67'314 —dc22 2006010605 9 8 7 6 5 4 3 2 1 Printed in the United States of America on acid-free paper Acknowledgments Given what for me was a formidable challenge to say the least, it is no pro forma courtesy to thank a number of people whose assistance was invaluable in researching and...

Words: 160016 - Pages: 641

Premium Essay

The World in 2008

...EDITOR'S INTRODUCTION Two big events will frame the year ahead: America’s presidential election and the summer Olympic games in Beijing. The race for the White House will be a marathon, from the front-loaded primary season in January and February to the general election in November. The betting is that the winner will be a Democrat—with a strong chance that a Clinton will again be set to succeed a Bush as leader of the free world. China, meanwhile, will hope to use the Olympics to show the world what a splendid giant it has become. It will win the most gold medals, and bask in national pride and the global limelight. But it will also face awkward questions on its repressive politics. America and China will be prime players in the matters that will concentrate minds around the world in 2008. One of these is the world economy, which can no longer depend on America, with its housing and credit woes, to drive growth. America should—just—avoid recession, but it will be China (for the first time the biggest contributor to global growth) along with India and other emerging markets that will shine. Another focus of attention will be climate change. As China replaces America as the world’s biggest producer of greenhouse gases, serious efforts on global warming depend on the serious involvement of those two countries. If 2007 was the year when this rose to the top of the global agenda, in 2008 people will expect action. It is striking that green is a theme that links all the contributions...

Words: 89030 - Pages: 357

Premium Essay

Mister

...Contents Title Page Dedication Prologue CHAPTER ONE: Republicans and Democrats CHAPTER TWO: Values CHAPTER THREE: Our Constitution CHAPTER FOUR: Politics CHAPTER FIVE: Opportunity CHAPTER SIX: Faith CHAPTER SEVEN: Race CHAPTER EIGHT: The World Beyond Our Borders CHAPTER NINE: Family Epilogue Acknowledgments About the Author Also by Barack Obama Copyright Prologue IT’S BEEN ALMOST ten years since I first ran for political office. I was thirty-five at the time, four years out of law school, recently married, and generally impatient with life. A seat in the Illinois legislature had opened up, and several friends suggested that I run, thinking that my work as a civil rights lawyer, and contacts from my days as a community organizer, would make me a viable candidate. After discussing it with my wife, I entered the race and proceeded to do what every first-time candidate does: I talked to anyone who would listen. I went to block club meetings and church socials, beauty shops and barbershops. If two guys were standing on a corner, I would cross the street to hand them campaign literature. And everywhere I went, I’d get some version of the same two questions. “Where’d you get that funny name?” And then: “You seem like a nice enough guy. Why do you want to go into something dirty and nasty like politics?” I was familiar with the question, a variant on the questions asked of me years earlier, when I’d first arrived in Chicago to work in low-income neighborhoods. It signaled a cynicism...

Words: 120305 - Pages: 482

Premium Essay

Dictionary of Travel, Tourism, and Hospitality

...Dictionary of Travel, Tourism and Hospitality By the same author Britain – Workshop or Service Centre to the World? The British Hotel and Catering Industry The Business of Hotels (with H. Ingram) Europeans on Holiday Higher Education and Research in Tourism in Western Europe Historical Development of Tourism (with A.J. Burkart) Holiday Surveys Examined The Management of Tourism (with A.J. Burkart eds) Managing Tourism (ed.) A Manual of Hotel Reception (with J.R.S. Beavis) Paying Guests Profile of the Hotel and Catering Industry (with D.W. Airey) Tourism and Hospitality in the 21st Century (with A. Lockwood eds) Tourism and Productivity Tourism Council of the South Pacific Corporate Plan Tourism Employment in Wales Tourism: Past, Present and Future (with A.J. Burkart) Trends in Tourism: World Experience and England’s Prospects Trends in World Tourism Understanding Tourism Your Manpower (with J. Denton) Dictionary of Travel, Tourism and Hospitality S. Medlik Third edition OXFORD AMSTERDAM BOSTON LONDON NEW YORK PARIS SAN DIEGO SAN FRANCISCO SINGAPORE SYDNEY TOKYO Butterworth-Heinemann An imprint of Elsevier Science Linacre House, Jordan Hill, Oxford OX2 8DP 200 Wheeler Road, Burlington MA 01803 First published 1993 Reprinted (with amendments) 1994 Second edition 1996 Third edition 2003 Copyright © 1993, 1996, 2003, S. Medlik. All rights reserved The right of S. Medlik to be identified as the author of this work has been asserted...

Words: 133754 - Pages: 536

Free Essay

International Business

...This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work’s original creator or licensee. Organization The overarching logic of the book is intuitive—organized around answers to the what, where, why, and how of international business. WHAT? Section one introduces what is international business and who has an interest in it. Students will sift through the globalization debate and understanding the impact of ethics on global businesses. Additionally, students will explore the evolution of international trade from past to present, with a focus on how firms and professionals can better understand today’s complex global business arena by understanding the impact of political and legal factors. The section concludes with a chapter on understanding how cultures are defined and the impact on business interactions and practices with tangible tips for negotiating across cultures. WHERE? Section two develops student knowledge about key facets of the global business environment and the key elements of trade and cooperation between nations and global organizations. Today, with increasing numbers of companies of all sizes operating internationally, no business or country can remain an island. Rather, the interconnections between countries, businesses, and institutions are inextricable. Even how we define the world is changing. No longer classified into simple and neat...

Words: 239764 - Pages: 960

Premium Essay

“What Is the Relationship Between Diversification and Performance, Particularly in Emerging Economies? What Are the Factors Which Are Relevant for Setting the Contents of That Relationship?”

...“WHAT  IS  THE  RELATIONSHIP  BETWEEN  DIVERSIFICATION   AND PERFORMANCE, PARTICULARLY IN EMERGING ECONOMIES? WHAT ARE THE FACTORS WHICH ARE RELEVANT FOR SETTING THE CONTENTS OF THAT RELATIONSHIP?” By João de Almeida Frazão Caro de Sousa Master Thesis Submitted to ESADE Business School in fulfilment of the requirements for the Degree of Master of Science in International Management ESADE Business School May 2012 Master of Science in International Management – ESADE Business School i Master of Science in International Management – ESADE Business School Table of Contents Introduction ..................................................................................................................................... 1 Theoretical Background 1. Diversification ......................................................................................................................... 5 1.1 General Observations ........................................................................................................ 6 1.2 Different types of diversification strategies....................................................................... 7 1.3 The costs and benefits of diversification ........................................................................... 8 1.4 Diversification Trends ....................................................................................................... 9 A. The Lack of Significant Relationship ................................

Words: 67131 - Pages: 269

Free Essay

Bush

...FAMILY OF SECRETS The Bush Dynasty, America’s Invisible Government, and the Hidden History of the Last Fifty Years RUSS BAKER Contents Foreword by James Moore 1. How Did Bush Happen? 2. Poppy’s Secret 3. Viva Zapata 4. Where Was Poppy? 5. Oswald’s Friend 6. The Hit 7. After Camelot 8. Wings for W. 9. The Nixonian Bushes 10. Downing Nixon, Part I: The Setup 11. Downing Nixon, Part II: The Execution 12. In from the Cold 13. Poppy’s Proxy and the Saudis 14. Poppy’s Web 15. The Handoff 16. The Quacking Duck 17. Playing Hardball 18. Meet the Help 19. The Conversion 20. The Skeleton in W.’s Closet 21. Shock and . . . Oil? 22. Deflection for Reelection 23. Domestic Disturbance 24. Conclusion Afterword Author’s Note Acknowledgments Notes Foreword When a governor or any state official seeks elective national office, his (or her) reputation and what the country knows about the candidate’s background is initially determined by the work of local and regional media. Generally, those journalists do a competent job of reporting on the prospect’s record. In the case of Governor George W. Bush, Texas reporters had written numerous stories about his failed businesses in the oil patch, the dubious land grab and questionable funding behind a new stadium for Bush’s baseball team, the Texas Rangers, and his various political contradictions and hypocrisies while serving in Austin. I was one of those Texas journalists. I spent about a decade...

Words: 249168 - Pages: 997