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Fourth Pension Withdrawal Bill Heads To Lower House

CHILE
  • (Bloomberg)A committee in Chile's Chamber of Deputies approved a bill allowing a fourth round of early pension fund withdrawals, setting up a crucial floor vote as soon as Tuesday.
  • The committee backed Monday a bill that allows people to withdraw as much as 10% of their savings in their individual pension accounts. The text now heads to the lower house floor and, if approved, to the Senate.
  • The government of President Sebastian Pinera is trying to block the withdrawal.
    • Finance Minister Rodrigo Cerda said last week that they are confident they will have enough votes against it at the lower house or senate, although several deputies from the ruling coalition have said they will vote in favour.

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