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Brazil & Southern Cone - August 2016 (ISSN 1741-4431)

Bachelet moves on another pledge

Chile’s President Michelle Bachelet and her Nueva Mayoría leftist coalition government this month moved on another 2013 electoral pledge – overhauling the national pension system which dates back to the military dictatorship led by General Augusto Pinochet (1973-1990). Administered by private pension fund administrators (AFPs), Chile’s pension system has long attracted criticism from protest groups such as the ‘Coordinadora No + AFP’ (‘No More AFP’) which complain that it provides low pay-outs to beneficiaries. As with previous electoral pledges such as the promise of education reform [RBS-16-07], the deeply unpopular Bachelet government has again hitherto failed to satisfy public demands with its efforts.

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