Gender equality: the child bonus

A challenge for pension systems is to achieve gender equity. It is common that in a couple, the man works while the woman stays at home to have children and care for them. Entitlement to a pension is usually related to work experience. A compensating mechanism is the bonus per child in Chile. This is an amount received by the woman through her individual retirement account and is used to increase the value of her pension; it can not be withdrawn as a lump sum, but can be used to improve the value of a pension after age 65