[auto-translated by Google]
[this relates to people in Chile being allowed to taking fairly large withdrawals from their official retirement savings]
This Monday, the application process will begin through digital platforms within the framework of the new 10% third withdrawal law.
As detailed by the Undersecretary of Social Welfare, Pedro Pizarro, the process will begin 100% online during the first two weeks of May, both for AFP users and for the nearly 700 thousand pensioners through the life annuity modality , who for the first time may request a cash advance.
In view of this process, the Financial Market Commission is preparing an instruction manual to regulate the unprecedented withdrawal of savings in the form of life annuities, which – they assure – will be published shortly (In this same note we will update the news of said instruction )
Publication Date: 2 May 2021
Publication Site: T13 in Chile