LatinNews Daily - 05 May 2021

In brief: Millions of Chileans request third pension withdrawal

* Chile’s superintendence of pensions (SP) has informed that it has received over 4.3m requests for pension withdrawals up until 5:00pm local time yesterday (4 May), on the second day after the law authorising Chileans to make a third withdrawal of up to 10% from their privately-managed pension pots came into effect. Reminding that the private pension fund managers (AFPs) have 15 days to release the money after the withdrawal request has been made, the SP said that 1,534 payment operations had been made so far, averaging Cl$2m (US$2,931) per person. The SP estimates that up to 10m people could request a third pension withdrawal, which would imply the disbursement of around US$19bn from the pensions system.   

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