translated from Spanish: Finance minister upholds TC ruling restricting withdrawal of pension fund money

During this day the Minister of Finance, Ignacio Briones, referred to the ruling of the Contitutional Court that last Thursday determined to reject the two requirements sent by the courts of appeals of Punta Arenas and Antofagasta, in which and two retirees were requested to withdraw their pension funds. In this regard, the Secretary of State supported the TC’s decision and noted in the Mesa Central program that “We must understand that the forced savings commanded by the Act make sense that it forces us to save money for when we no longer have income.” In that line he added that “the objective by which this (the system) operates is lost” as he noted that “our natural tendency is to immediate consumption (…) We postpone what happens next, we are not perfect planners, we are tempted by immediacy.” Briones went on, stating that “that partly justifies the here that there is an obligation and a restriction, in some way, of our freedom to dispose of these funds.” It should be remembered that the first case that put the possibility of making a withdrawal of funds on the mat was that of a teacher, who reached the Court of Antofagasta after the AFP Cuprum did not allow her to withdraw all her saved funds.

Original source in Spanish