chileans march to demand end to privatized pension system
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Chileans march to demand end to privatized pension system

Arab Today, arab today

Arab Today, arab today Chileans march to demand end to privatized pension system

Protesters march through central Santiago,
Santiago - Arab Today

Thousands of people marched in major cities in Chile Sunday to demand an end to a privatized pension system put in place more than 35 years ago under the dictatorship of Augusto Pinochet.
Banging drums and carrying signs and banners, protesters marched through central Santiago to express opposition to the pension system, known by its Spanish acronym as AFP.
"We are going to put an end to the AFP, like it or not," said Luis Mesina, coordinator of the protest movement and leader of the peaceful march in Santiago.
Protesters also staged massive demonstrations in the cities of Valparaiso, Concepcion and Valdivia.
The system, which manages $170 billion in funds, has come under fire because of low returns to pensioners, who had been led to expect annual payments amounting to 70 percent of their last salary.
It was created in 1981 by neo-liberal economists influenced by the University of Chicago's Milton Friedman.
Known as the "Chicago Boys," they replaced a government funded pay-as-you-go system with one in which workers and their employers paid a proportion of their earnings into privately-run pension funds.
The system has been widely imitated, but has fallen out of favor with many Chileans scraping to get by on meager benefits.
President Michelle Bachelet in August 2016 announced plans to reform the system, but has held off submitting it to Congress while she struggles to reach a consensus on the changes.
Paula Narvaez, a spokeswoman for the president, said Bachelet will reach a decision on the reforms within a month.

Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chileans march to demand end to privatized pension system chileans march to demand end to privatized pension system

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chileans march to demand end to privatized pension system chileans march to demand end to privatized pension system

 



GMT 09:16 2017 Wednesday ,13 December

Cape wearing tips

GMT 20:49 2017 Monday ,21 August

South Asia floods claim more than 750 lives

GMT 19:06 2016 Saturday ,10 December

IOF Close Al-Nabi Saleh Village's Entrance

GMT 18:01 2017 Wednesday ,22 February

Abu Sayyaf ‘likely’ behind Vietnam freighter attack

GMT 06:41 2017 Sunday ,03 December

Hamas threatens 'intifada' over US moves on Jerusalem

GMT 16:17 2017 Saturday ,21 January

BMW 7 series crosses 5,000 unit mark in 2016

GMT 12:17 2016 Wednesday ,24 February

United Technologies nixes Honeywell merger

GMT 23:37 2017 Monday ,31 July

Saudi Arabia sanctions Hezbollah member

GMT 05:45 2018 Saturday ,29 September

Abdullah bin Zayed hosts official reception in New York

GMT 04:12 2018 Friday ,12 January

Saudi-led coalition says Yemen rebels threat

GMT 11:18 2014 Monday ,22 December

Richard Ward adds to The Chelsea Collection

GMT 21:20 2017 Monday ,06 February

UN resumes food air drops in Deir Ezzor

GMT 22:24 2017 Friday ,15 December

HRH Premier thanked by Cambodian counterpart

GMT 02:11 2017 Monday ,23 October

Oct24/Nov22

GMT 21:31 2017 Monday ,11 December

HM King congratulates Burkinabe President

GMT 20:22 2017 Monday ,23 October

EU deplores attack against police
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday