translated from Spanish: “It insists on a model that has already failed”: opposition reacted to pension project announced by the Government

On wednesday’s night by national broadcaster, President Sebastián Piñera announced a pension reform project, which includes an additional 6% contribution, which in particular would correspond to a 3% that will be added to the current 10%, and complem will account for the planned savings, in addition to another 3% with which a Collective and Solidarity Savings Fund will be created. From the opposition the reactions were immediate. According to the socialist party senator, Juan Pablo Letelier “some issues that we have been raising were welcomed, but he insists on a model that has already failed,” he said, referring to individual capitalization accounts. “We’ll have to look at the detail, there’s probably a lot of fine print here. The government showed its letters,” he added. However, he argued that “the President did not hear what the street is saying (…) They want to transition to a socialsecurity model as the main livelihood.” For his part, from the very side, Alfonso De Urresti, replied that the Mandatario “remains to the debe and does not respond to what people are asking. Its planned reform does not touch AFP and increase to the contribution of solidarity remains low to generate substantive increases in pensions in general”.  Since the Christian Democracy, it was Fuad Chahen who referred to the announcement through his Twitter account, arguing that the draft government collects “several” from the party’s proposals, although he commented that “more is needed in terms of universal minimum pension, especially for women and permanent tax contribution to the middle class. It can and must be improved,” he said.

Original source in Spanish