Decrypting Chile's Labor Environment

With a mixture of emerging and booming economies, political uncertainty and extreme contrasts in business customs, the Americas can never be categorized as one homogeneous whole.

Chile has significantly improved its complexity ranking since last year, strengthening its position as one of the top countries to do business in Latin America and the world. Still, having local knowledge is crucial for any business looking to operate in the country. Here we take a look at how HR & Payroll works in Chile.

Social Security System

Social Security System in Chile comprises:

• Pension Fund: every employee must be affiliated to the Pension Fund Administrator (AFP) of choice. The Pension Fund Administrator contribution consists of: