translated from Spanish: They propose that the Central Bank administer an additional 4% of the contribution

Labour Minister Nicolas Monckeberg was open to considering the idea that the Central Bank should be the body responsible for managing the additional 4% of contributions set out in the planned reform. The proposal has already been put forward by the deputies Gabriel Silber (DC), Tucapel Jiménez (PPD) and Senator Ximena Rincón (DC) to the president of the institution, Mario Marcel. In this regard, Minister Monckeberg noted that “I think it is a good proposal, we are seriously considering it. In fact, tomorrow I meet with the Parliamentarians who have raised this idea, because we want to shape it and move forward,” according to BioBioChile. He added that “I hope that the effort now, of all MPs, is to bring out the reform to raise pensions, rather than to continue to discuss whether the public or private authority has such or what rights or powers.” For his part, Mr Silber detailed that “the Central Bank is for decades an institution that has managed and placed the sovereign wealth funds of Chileans abroad”. In the same vein, he said, “they have managed seriously, with good returns, and without any reason for doubt regarding public scrutiny of the investment of these funds. And as a result we are looking to replicate a similar model with respect to the public authority.”

Original source in Spanish