The aim of this paper is to assess the influence of the spatial incidence of COVID-19 on an individual?s decision to cash out 10% of their pension savings in Chile. Using detailed individual data collected during the health crisis, along with several city level measures of the spatial spread of COVID-19 provided by the Ministry of Health, this paper estimates a bivariate probit model to account for the selection of individuals into the pension system. The main results confirm that women living in cities with a higher incidence of COVID-19 tended to show a higher probability to cash out 10% of their pension funds, while for men the impact is virtually negligible. This result is robust to several ways of measuring the incidence of the health crisis and is mainly present in larger and more densely populated cities. Finally, this paper discusses some of the policy implications of the main findings relate to how outputs of a national policy are significantly influenced by local and regional conditions of cities.

本文的目的是评估在智利，COVID-19 的空间发病率对个人兑现 10% 养老金储蓄的决定的影响。本文利用健康危机期间收集的详细个人数据，以及卫生部提供的几个城市层面的 COVID-19 空间传播衡量指标，估算了一个双变量概率模型，以解释养老金系统中个人的选择。主要结果证实，生活在 COVID-19 发病率较高城市的女性往往表现出较高的可能性将 10% 的养老基金兑现，而对于男性来说，这种影响几乎可以忽略不计。这一结果对于衡量健康危机发生率的多种方法来说都是稳健的，并且主要出现在较大且人口较稠密的城市。最后，