Colombia May Allow Workers to Tap Private Retirement Fund Savings

Chile passed a similar measure this month, and Peru passed one in April. The Brazilian government is also considering allowing workers to make partial withdrawals from pension funds that don’t offer that option.

RIO DE JANEIRO, BRAZIL - Colombia is the latest Latin American country considering a plan to let workers tap private pension savings, a move intended to soften the slump in consumer spending, but which risks worsening some of the world’s deepest stock market slumps. A bill sent to congress this week would allow some Colombians to tap as much as 10 percent of their retirement savings.

Chile passed a similar measure this month, and Peru passed one in April . . .

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