Deputies of Chile approve voluntary withdrawal of 10% of pensions due to coronavirus crisis

Credit: Marcelo Hernandez / Getty Images

(CNN Spanish) - This Wednesday the Chilean Chamber of Deputies approved the bill that will allow them to voluntarily withdraw up to 10% of their savings from pension funds due to the coronavirus crisis.

The initiative obtained 95 votes in favor with the support of pro-government deputies and reached the minimum required to obtain the green light, despite attempts by the Sebastián Piñera government to convince parliamentarians not to approve it.

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The Minister of Finance of Chile, Ignacio Briones, pointed out in Congress, moments before the vote, that "this is going to generate a debt in the future that is going to be paid by the Chileans themselves," and called on the parliamentarians. to “be responsible with your decision”.

The current pension fund system in Chile has been a controversial issue in recent times and one of the pillars in the demands of the social protests that began in October 2019. Last night, the cacerolazos returned in several communes of the southern country as a signal in support of this retreat.

The initiative must now be discussed and approved in the Chilean Senate to advance its legislative process.

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