SuPres

SuPres, short for "Superintendencia de Pensiones," is the Superintendency of Pensions in Chile. It is an independent public body responsible for overseeing and regulating the pension system in the country. The primary objective of SuPres is to ensure the proper functioning of the pension fund administrators (AFPs) and to protect the rights and savings of pension fund contributors.

Established in 1980 as part of the pension reform that introduced the capitalization system, SuPres plays a crucial role in maintaining the stability and solvency of the pension system. Its functions include supervising the investment of pension funds, ensuring compliance with legal and regulatory frameworks, and processing claims and complaints from affiliates. The Superintendency also provides information and education to the public regarding pension matters.

SuPres is governed by a Superintendent, who is appointed by the President of Chile. The organization works to promote transparency and efficiency within the pension industry, aiming to guarantee that individuals receive adequate retirement income. It monitors the financial health of AFPs, conducts audits, and imposes sanctions when necessary to uphold the integrity of the system. Through its regulatory and supervisory activities, SuPres seeks to build confidence in Chile's pension system and ensure its long-term sustainability.