From: How unemployment insurance savings accounts affect employment duration: evidence from Chile
Event | Before UISA | After UISA |
---|---|---|
Job change | Loss of accumulated rights to severance pay | Loss of severance pay (as before), keeps accumulated savings in UISA account |
Unemployment | Severance pay if job loss occurred due to Labor Code 161 | Severance pay (as before), transfer of accumulated savings (maximum five months), solidarity fund if applicable |
All other cases: nothing | ||
Inactivity | Severance pay if job loss occurred due to Labor Code 161 | Severance pay (as before), transfer of accumulated savings (maximum five months) |
All other cases: nothing | ||
Retirement | Nothing | Transfer of accumulated savings given account balance is positive |
Death | Nothing | Transfer of accumulated savings given account balance is positive to surviving dependents |