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The marginal level of pensions visually illustrates consequences of such policy for
The insured. First, the fact of presence of "ceilings", which in the defined
The periods were low enough, deprived of the workers receiving incomes above
Limiting size, possibility to pay payments which would correspond them
To the real salary that in the future to have higher pension. Secondly,
As specified "ceiling" in real terms eventually
Decreased, the insured, paying payments on the top limit of the received
Incomes, paid more than should pay for reception of those pensions,
Which were actually charged by it. In particular, at retired during the period
With 1970 for 1980 the top limit of pensions was considerably below maximum
Incomes on which their payments during all the labour paid off
Activity. As a result they have incurred obvious losses. Actually limiting
The size of pension which could receive insured on old system, was
Considerably below the maximum sizes of the pensions presented in tables
3.9 - 3.12. Differently, the maximum sizes of pensions at old system in
Many cases are overestimated in comparison with the sizes of pensions,
Registered throughout, at least, one decade,
Preceding pension reform. This data convinces of correctness
Radical change of methods of calculation of pensions in new pension system. [In
To new system the maximum limit of the incomes considered at calculation is established
Pensions. It is expressed in terms of constant purchasing capacity UF (60
UF approximately there correspond 420.000 peso for December, 1990). In the new
The top limit concerns system of exclusively received incomes, without imposing
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