Chile begins the third pandemic pension withdrawal: up to US$19 billion may be withdrawn

Chile gave the green light a week ago to an initiative that allows the withdrawal of 10% of the individual pension savings accounts, mandatory contribution for workers, and managed by the Pension Fund Administrators (AFP), private companies.

RIO DE JANEIRO, BRAZIL - Chileans began this Monday the process to withdraw, for the third time since the beginning of the pandemic, their pension savings, a measure proposed to alleviate the crisis that has generated the covid-19 and that may involve the outflow of US$19 billion from the funds.

Chile gave the green light a week ago to an initiative that allows the withdrawal of 10% of the individual pension savings accounts, mandatory contribution for workers, and managed by the Pension Fund Administrators (AFP), private companies.

According to local media, more than half a million Chileans had already . . .

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