Weekly Report - 25 January 2024 (WR-24-03)

Chile’s lower chamber of congress has approved President Gabriel Boric’s flagship pension reform proposal. Given how long the reform has languished in congress this should have been cause for celebration for Boric. Opposition centrist parties voted alongside his ruling left-wing coalition to approve the pension reform on 24 January. But the cornerstone of the reform, on the destination of employer contributions, fell agonisingly short of a majority and was not approved. This was the most contentious aspect of the reform, however, without which it could, in theory, stand a better chance of making it through the senate when it returns from a February recess.

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