Chilean lawmakers in the country's lower house on Wednesday approved a bill to allow citizens to withdraw up to 10% from private pension funds, in a significant blow to the government of center-right President Sebastian Pinera.
SANTIAGO - Chilean lawmakers in the country’s lower house on Wednesday approved a bill to allow citizens to withdraw up to 10% from private pension funds, in a significant blow to the government of center-right President Sebastian Pinera.
Deputies gathered in the Chilean Congress in the coastal city of Valparaiso cheered and sang the national anthem after the result was announced. The vote was 95-36, with 22 abstentions. The bill was backed by 13 members of Pinera’s ruling coalition. Finance Minister Ignacio Briones walked out of the chamber as the voting took place. Interior Minister Gonzalo Blumel said afterwards he hoped the Senate would “correct this mistake.”
After the vote, citizens honked horns and banged pots and pans around Santiago, the capital. Overnight, Santiago was rocked by a resumption of social protests that started in October last year over paltry pensions, patchy healthcare and the fierce police response to them. Messages on social media promoting the latest protests bore the slogan “I want my 10%!”
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