translated from Spanish: Senators propose affiliates over the age of 60 can withdraw up to $2 million from AFP

As part of the health emergency by COVID-19, Senators Yasna Provoste (DC), Carlos Bianchi (IND) and Alejandro Navarro (PRO) entered a bill calling for older adults to be able to withdraw part of their planned funds from the AFPs.
“Our older and pensioners are already beginning to experience the drama of the coronavirus pandemic and do not have the resources to deal with winter, which will be the peak of coronavirus. That’s why we’ve put forward a bill to get important aid out of your pension funds at times like this,” Navarro said. The initiative involves insurers delivering $1,000,000,000 for members between the ages of 60 and 64, $1,500,000 for members between the ages of 65 and 69, and $2,000,000 for members applying for retirement, and are 70 years of age or older.
“These funds will serve in such a way that the life of this age segment can be safeguarded during the coronavirus crisis. The time will come to discuss the pension system, for now a law is required to have fresh resources available in times of crisis for older adults,” the biobío legislature added.
“What’s the point of having planned savings, working your whole life, if you’re not going to get out of this crisis alive. I hope that the Executive will take our approaches, sponsor our project or, on the contrary, propose to Congress and the country a formula that allows our older adults to withdraw liquid resources from their pension funds,” he added.
The parliamentarian also added that now “it is time for AFPs to abandon speculation” and “to ensure the lives of our pensioners.”

Original source in Spanish