The politics of the fourth withdrawal

CHILE - Report 04 Oct 2021 by Robert Funk

This week the discussion of the bill enabling a fourth withdrawal of up to 10% of private pension funds moves on to the Senate, having been approved by the lower house. Most observers believe the bill will be rejected in the Senate. Our calculations indicate that, on paper, the bill is four or five votes short of the necessary majority. Yet we believe that it is more likely than not that the fourth withdrawal will pass. Obviously this has less to do with the merits of the bill, which are practically null, than with politics.

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