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Chilean Senate approves pension reform
After a debate of almost 10 hours, followed from the stands by social organizations, the upper house adopted the initiative early this morning by 40 votes in favor and only seven against.
“We have been able to build a path of agreements and respect for the word given,” said the Minister of Labor and promoter of the proposal, Jeannette Jara, who pointed out that the project will benefit more than three million people.
Senator Isabel Allende, of the Socialist Party, highlighted what has been achieved after more than two years of processing, which will improve the current and future pensions of the elderly who do not have enough to live on.
Independent Senator Alejandra Sepúlveda noted that the difference due to gender reaches 42 percent, and considered the most important part of the proposal to be the creation of social security and that for the first time, employers provide contributions for retirement pensions.
Daniel Núñez, from the Communist Party, declared that the reform generates changes because the elderly do not make ends meet. He stressed that they will continue to fight to end the Pension Fund Administrators, imposed 45 years ago and whose model has failed.
The bill will now go to the Chamber of Deputies, where a minimum of 73 votes are required for it to become law.
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