From the link:
Measured as a percentage of contributions, fees and commissions of the Chilean Pension system amounted to 55 percent in 1983 and 23.6 percent in 1995, or 5.5 percent and 2.4 percent of average wages.
I see. You are using a percent of contributions.
I agree that the fees seem high, but you had given the impression that Chilean fees were 20% of the value of the account each year. That isn't true, and you now admit it.
Fees on contributions do not eat into the accumulating value of the account, and measured as a percentage of the eventual value of the account, would be quite minimal.
As an alternative, we can have the 100% confiscatory fee currently charged by the the US governement. Is that what you favor?