Tag: Pension reform

Friday, March 21st 2025 - 10:55 UTC
Boric signs Chile's pension reform into law

Chilean President Gabriel Boric Font Thursday signed into law the new pensions reform introducing changes to the retirement mechanism in force since Augusto Pinochet Ugarte's military dictatorship (1973-1990). The new law will become effective starting in September 2025 and be fully implemented by 2035. It provides for a mixed system with contributions from workers (10%), employers (8.5%), and a new state-backed social security component, in a move to boost pensions by 14% to 35% for 2.8 million senior citizens, thus addressing the low payouts from privately-managed Pension Fund Administrators (AFPs) currently giving about half the country's retirees about US$ 350 monthly when the minimum wage stands at US$ 500.
Friday, April 28th 2023 - 10:59 UTC
Uruguayan Senate gives nod to pension reform bill

Uruguay's Senate Thursday approved at around 9 pm the pension reform bill which is now up to President Luis Lacalle Pou to be signed into law.
Wednesday, April 26th 2023 - 10:38 UTC
Uruguayan workers strike against Government's pension reform proposal approved by Parliament

Uruguayan workers took to the streets on Tuesday as part of a general strike called by the PIT-CNT labor federation to express their rejection of the government's proposed pension reform, which they see as “socially inefficient” and “against the people.” The Uruguayan Chamber of Representatives approved the legislation on Tuesday evening after a “marathon” session.
Friday, March 31st 2023 - 15:36 UTC
54% of Uruguayans reject social security reform

The Uruguayan government has passed a social security reform bill in the Senate. However, objections from the Cabildo Abierto party, a partner of the ruling coalition, have generated uncertainty about its implementation.
Monday, December 9th 2019 - 09:35 UTC
France braces for a fifth day of public transport chaos as strike against pension reform persists

French commuters and tourists braced for a fifth day of public transport chaos Monday as the government prepared to respond to widespread anger over pension reform that has sparked open-ended walkouts.
Wednesday, October 23rd 2019 - 09:55 UTC
Brazil approves pensions' reform: markets soar and stocks hit an all time high

Brazil's Senate on Tuesday gave final approval to a landmark reform of the country's social security system, in a step seen as key to stabilizing public finances and the economy. The text was approved by a vote of 60-19.
Thursday, October 17th 2019 - 09:51 UTC
Brazil's Economy minister cancels trip to IMF assembly to ensure pension reform approval

Brazil’s Economy Minister Paulo Guedes has canceled a trip to the International Monetary Fund’s annual meeting (IMF) in Washington, to deal with his economic agenda, the ministry said on Wednesday, as the government’s pension reform plan winds its way through Congress.
Thursday, October 10th 2019 - 09:57 UTC
Brazil's Senate to hold a final vote on pension reform on 22 October

Brazil’s Senate will hold the second and final vote on pension reform on Oct. 22, party leaders agreed on Tuesday night after long discussions, according to Senator Antonio Anastasia of the Brazilian Social Democratic Party.
Thursday, October 3rd 2019 - 09:51 UTC
Brazil's landmark pension reform bill closer to its final approval

Brazil’s Senate on Wednesday approved a landmark pension reform bill in the first round of voting, in relief for far-right President Jair Bolsonaro, although senators voted down an amendment in a move that dilutes the reform’s projected savings. The bill will now pass to a second and final voting round.
Thursday, September 5th 2019 - 09:39 UTC
Brazilian Senate advancing with pensions' reform; forecasts of promulgation in a month's time

Brazil’s Senate constitutional affairs committee on Wednesday approved by a vote of 18-7 a bill that would overhaul the social security system and save the federal government about 1 trillion reais (US$243 billion) over the next decade.