July 20, 2024

Paull Ank Ford

Business Think different

In Pandemic-Hit Chile, Lawmakers Approve Bill for Early Access to Retirement Savings

Chile’s Senate authorised a monthly bill Wednesday allowing workers battling with the country’s pandemic-induced economic meltdown to withdraw section of their contributions to personal pension cash, delivering a blow to President Sebastián Piñera’s government and alarming economists who say it could hurt a recovery.

The monthly bill was staunchly opposed by Mr. Piñera, who failed to influence lawmakers, some in his personal centre-right coalition, to leave the $two hundred billion pension program alone. Officers experienced promised in its place to ramp up unexpected emergency…