Chile's Congress approves reform to private pension system
- Chile's Congress approved a pension reform, marking a significant shift in the country's retirement system, with 110 votes in favor and 38 against.
- The new law introduces a mixed pension system combining contributions from the state, employers, and workers, addressing low pension amounts and gender inequality.
- The reform increases employer contributions and raises the guaranteed minimum pension to 250,000 pesos for those 65 and older, while retaining the pension fund administrators.
- Critics argue the reform does not go far enough in dismantling the AFP system, while supporters believe it balances improving pensions and preserving individual savings accounts.
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Total News Sources0
Leaning Left4Leaning Right7Center10Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 19%
C 48%
R 33%
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