Chile’s Pinera counters opposition pensions withdrawal bill with own initiative



Chilean President Sebastian Pinera on Sunday announced the government will launch its own bill to allow citizens to draw more from their private pensions in a last-ditch attempt to kill off a similar move led by the opposition.

Pinera said his proposed rival bill would be subject to means-tested taxation and would allow for the withdrawn funds to be gradually repaid through state and employer contributions.

The president said his initiative was a better option than the opposition’s bill, which the government says would leave millions of future pensioners with little to no savings.

Author(s): Aislinn Laing

Publication Date: 25 April 2021

Publication Site: NASDAQ

Chile’s Labor Minister Zaldívar resigns over pension reforms



Chile’s Labor Minister María José Zaldívar submitted her resignation Wednesday to President Sebastián Piñera, who accepted it and announced he would appoint Deputy Patricio Melero to succeed her.


Zaldívar’s intentions to leave her job were no surprise as the pension reform failed to go her way. ”I highlight her tireless effort to carry out the reform of the pension system to improve the benefits of millions of current and future pensioners and lay the foundations for a fairer, more supportive pension system with better pensions,” said Piñera.

But Senate Speaker Adriana Muñoz of the opposing Party for Democracy (center left), expressed her dissatisfaction: “It seems complex to me to continue holding this debate with a government that changes our interlocutors every three months.”

Publication Date: 8 April 2021

Publication Site: MercoPress