President Piñera seeks Constitutional Court help to halt 2nd pension withdrawal

President Piñera said his government would appeal to Chile’s Constitutional Court to stop an opposition measure aimed at allowing citizens to withdraw a second installment from their privately held pensions. The president said the legislation was unconstitutional since it implies a cost to the public purse that can only be determined by the executive. It also poses a “grave risk” to the future pensions of Chileans, as well as offering another tax-free windfall to higher-income individuals who do not need it.

Source: Reuters