efe-epaBy Arnald Prat Barnadas Santiago

Carmen Aranguiz is 71 years old and looking for work.

She retired in 2010 but her pension is so low that she has been bouncing around from one occasional job to another to boost her income. Likewise, thousands of other Chilean retirees are struggling to get by in their later years due to a much-criticized pension system.

Last month, the average pension paid by Chile's Pension Fund Administrators (AFPs), private entities that manage Chileans' mandatory individual retirement accounts, was $221 for women and $384 for men.