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Chamber Declares Third Withdrawal Of Funds From AFP Admissible

CHILE

Chamber declares third withdrawal of funds from AFP admissible and the project officially begins its process (Diario Financiero)

  • It establishes a reform to the Constitution to allow contributors and pensioners of the AFP pension system and for life annuities to withdraw up to 10% of their savings.
  • It also establishes a compensatory recognition bonus for the withdrawn figures, which will be paid by the State.
  • Bill will go to the House Constitution committee for discussion, which comes amid pressure from the opposition to increase state aid.

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