The pension regulator is concerned about the portfolio rebalancing needed to align investments with age-based risk profiles, while the pension fund industry is questioning the limited discretion managers will have in setting fund strategies and making investment decisions.
Multifund E selloff reignites debate over pension withdrawals
October 19, 2026 by
Public criticism of the performance of Chile’s AFPs is galvanizing lawmakers opposed to the country’s private pension system.
The risk of renewed herding in Chile’s target-date funds
August 25, 2026 by
AFPs are calling for wider deviation bands and greater flexibility in the selection of benchmarks to ensure that performance incentives do not ultimately push managers toward overly similar investment strategies.
New pension superintendent reduces lifecycle funds to ten
July 16, 2026 by
AFPs had previously warned the outgoing administration that managing 15 separate lifecycle portfolios would create significant operational challenges.
Pension reform also reshapes rules on indirect investment fees
July 2, 2026 by
Some of the new restrictions on management fees have been in force since April, while others will take effect alongside the rollout of Chile's new lifecycle funds.
Mercer’s AltamarCAM deal draws attention in Chile pensions
June 22, 2026 by
The transaction would bring a leading private markets platform under Mercer’s umbrella at a time when the firm is playing a key role in the implementation of Chile’s pension reform.
Chilean pension regulator proposes 15 lifecycle funds
March 4, 2026 by
The Superintendencia de Pensiones has proposed a new lifecycle regime set to take effect in 2027, including benchmark portfolios and structural reviews every three years.
ETF listings approved by the CCR reach 875 products
February 19, 2026 by
Asset managers are expanding their ETF footprint in anticipation of asset allocation shifts driven by Chile’s pension reform, positioning themselves for the transition to a target-date fund structure.
SP sets limits on indirect fees
February 4, 2026 by
In general terms, these management fees may not be charged when the investment vehicles offered have more than 10% of their assets invested in instruments that AFPs could invest in directly with relative ease.
Mercer’s experience with sovereign wealth funds wins over Pensions Superintendency
August 12, 2025 by
The consulting firm won the bidding process to develop the investment regime for the new target-date funds with their respective benchmark portfolios.
