JOURNAL ARTICLE

Chile's Plan to Revamp Privately-Run Pensions Clears a First Hurdle in Congress.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Gonzalez, Carolina 3 of 3

Abstract

Chilean President Gabriel Boric's plan to revamp the country's privately-run pension system has cleared a hurdle in Congress. The pension bill, if passed, will eliminate the private pension fund managers and replace them with new private companies and a state-owned option. The bill also includes an increase in the state-paid minimum guaranteed pension for all Chileans and requires employers to contribute 6% of worker salaries to savings. The government accepted changes proposed by centrist swing parties to secure support for the bill. The bill will now move on to the Lower House's Finance Committee and then to a vote at the Chamber's floor before going to the Senate. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/01, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2024
  • Accession Number:174804024
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