New withdrawal of 10%: commission approves those who earn more than $ 2.5 million to pay taxes and a third transfer is rejected

Surprising was the result of the vote that the deputies of the Constitution Commission made this Thursday on the project that is in the first constitutional process, and that seeks a new withdrawal of 10%, which ended up being dispatched to the Chamber.

Although on Wednesday this instance had already approved in particular the indication that allows the new withdrawal in the same terms as the first withdrawal of 10%, this Thursday the Commission continued with the vote in particular, and there the parliamentarians approved, among other things , that those people who decide to withdraw funds pay taxes.

The above, only for those who have a monthly taxable income greater than $ 2.5 million. Of course, this would be in case the withdrawal is higher than UF35 ($ 1 million).

This was an indication of Chile Vamos, with which all the opposition was against, with the exception of the president of the Commission, Deputy Matías Walker (DC). With this favorable vote, the indication was approved by 7 votes in favor and 6 against.

The approved indication indicates that these withdrawals “will constitute income for all legal purposes, with the exception of those persons who pay taxes in the first three sections of the income tax law.”

An indication was also approved that says that “for these purposes, the average taxable income and remuneration will correspond to the average of the last 12 remunerations and income declared in the system in the last 10 years. The Superintendency of Pensions shall regulate by means of a general rule the procedures, operations and other operational aspects that are necessary for the implementation of this provision ”.

Furthermore, the indication seeking a third withdrawal was declared inadmissible. This proposal by deputies Hugo Gutiérrez (PC) and Leonardo Soto (PS) indicated that this third withdrawal would be for 5% of the funds, and only those who have taken the second withdrawal of 10% could access, and after six months from that now, do not post any additional quotes.

The other changes. Other indications that were approved establish that people who withdraw 10% can reimburse the resources if they so wish. This proposal obtained 12 favorable votes from the deputies and only one abstention.

This was a proposal initially presented by deputy Jorge Alessandri (UDI), but deputy Walker made modifications that achieved that the indication was practically approved by the unanimity of the parliamentarians. This, because initially Alessandri’s indication made it mandatory to return the amounts, but Walker proposed that it be voluntary.

This indication indicates that “the affiliates who request the withdrawal of pension funds in accordance with this law, may reimburse all or part of said funds through an additional voluntary contribution equivalent to 5% per month, calculated on the last quoted remuneration, which may find out during the entire period that is necessary to restore the balance withdrawn and readjusted, and that the member may suspend or discontinue ”.

This means that, in addition to the 10% mandatory contribution that currently exists, a voluntary 5% could be contributed to replenish the withdrawn funds. The indication adds that “the Superintendence of Pensions will establish the regulations that regulate this contribution.”

On the other hand, an indication was also unanimously approved that establishes that the authorities that withdraw 10% will have to include it in their declaration of assets and interests.

Specifically, the indication says that “all those authorities whose remuneration is regulated in accordance with the provisions of article 38 bis of the Political Constitution of the Republic who, as of the date of entry into force of this law, have exercised the right established in Law No. 21,248, they must, within a period of 10 business days from the aforementioned date, incorporate into their declaration of assets and interests in accordance with Law No. 20,880 the information related to this, including the amount withdrawn. The same will apply in the event that they request the withdrawal established in this law ”.

However, other indications from Chile Vamos were rejected that sought to limit the withdrawal of funds exclusively to those who have seen their income diminished or lost their jobs. The proposal that the AFPs can inform members of the effect that this second withdrawal has on their pension was also rejected.

When would the bill be voted on in the Chamber room? Deputy Walker yesterday commented that they were informed that next week it would not be possible to vote on the project in the room, and that in principle it could be seen on Wednesday, November 18. However, he pointed out that it is not ruled out to hold a special session before that date.

If the bill is approved, there is still the procedure in the Senate where in the opposition there is no consensus regarding the second withdrawal.