Chile’s Sudden Pension Fund Losses Draw Fire From Lawmakers
12 Articles
12 Articles
In the document, Senator Luciano Cruz Coke asks "to clarify whether the exhibition actually assumed is compatible with its more conservative fund character and with the protection of members who must fund a pension in the short term."
In an exclusive interview with Radio Bio Bio, the executive president of the Association of AFP, León Fernández, emphasized, online...
Chile’s Sudden Pension Fund Losses Draw Fire From Lawmakers
Chilean lawmakers are seeking explanations from regulators over how privately managed pension funds were allowed to build up massive bets on US interest rates that are now triggering heavy losses.
In Now Es Cuando, the deputy (Ind-PPD), Jaime Araya, referred to the investigations for losses in pension funds and called for transparency in the movements. “The AFP have done what they have wanted in the context of legislative architectures,” he said.
Senators and deputies from different sectors of the organization were able to identify the AFPs involved, clarify responsibilities and evaluate compensations to those affected.
Through an Office to the Superintendency of Pensions, the legislator asks to clarify the possible losses in the pension funds of the contributors, specifying that, if it were not for the publication of a means specialized in economics, “no one would have known about this situation.” Rep. Jaime Araya officiated the Superintendency of Pensions to demand...
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