RIO DE JANEIRO, BRAZIL - Chilean President Sebastian Pinera said on Sunday his government would appeal to the country’s Constitutional Court to halt an opposition measure aimed at allowing citizens to draw down a second installment from their privately held pensions.
Pinera said the legislation was unconstitutional since it implied a cost to the public purse that can only determined by the executive, and posed a “grave risk” to the future pensions of Chileans as well as offering another tax-free windfall to higher-income individuals who did not need it.
“All authorities, and especially the president of the republic . . .