Chile’s Central Bank express concern for 2nd withdrawal from pension accounts

Chile’s Central Bank expressed concern about a further withdrawal of pension savings because of the potential long-term impact on the national economy. The bank’s president, Mario Marcel, stressed that withdrawing pensions, “in the long term, implies reducing savings, reducing future pensions and adding more fiscal obligations”. “We have to be clear that withdrawing pension savings means making liquidity available to members of the system in exchange for reducing their long-term pension assets,” he added.

Source: Emol