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The Chamber of the Chamber of Deputies approved the constitutional reform to establish a mechanism that allows a second withdrawal of up to 10% pension funds (AFP).
Specifically, the approved initiative authorizes members of the private pension system, on a voluntary and exceptional basis, to make a second withdrawal of up to 10% of the funds accumulated in their individual capitalization account of mandatory contributions.
The initiative, now sent to the Senate, allows a new withdrawal of 10%, with a maximum limit of 150UF and a minimum of 35UF (just over 1 million pesos).
In case of not completing the minimum margin, the totality of the available resources in the individual account may be withdrawn.
The initiative advanced with 130 votes in favor and 18 against, far exceeding 2/3 of the quorum. This would allow him to avoid an eventual review by the Constitutional Court (TC).
In the session, the paragraph that contemplated a retirement tax for income over $ 2.5 million, thus establishing the universality of the benefit.
Likewise, voluntary withdrawal of funds was approved by affiliates.
The norm determines that the delivery of the funds will be made in a single installment and within a maximum period of 30 business days after the application has been submitted to the respective AFP and will be subject to retention, suspension and attachment for debts originated by maintenance obligations in accordance to the provisions of Law 21,254.
The project must now continue its processing in the Senate, where it will begin to discuss as soon as the respective report arrives. It is expected that it could begin its process next Thursday.
This was confirmed to Radio Bío Bío the president of the Senate Constitution Commission, Alfonso De Urresti (P.S).
⭕️ NOW | Camera dispatches to @Senado_Chile the project of #Second Withdrawal10percent.
The article that established a retirement tax for incomes over 2.5 million was rejected.
The project of #RetiroEnfermosTerminales it was approved in general and returned to the Constitution.
– Deputies and Deputies of Chile (@Camara_cl) November 10, 2020
Retreat for the terminally ill
In parallel, the Chamber approved in general -with 150 votes in favor- the deputy motion Marcos Ilabaca that would allow the total withdrawal of pension funds to people diagnosed with a terminal illness.
Due to the input of indications, the project returns to the Constitution Commission for discussion in particular.
✅ APPROVED | With 150 votes in favor, the Chamber approves the bill that makes it possible to withdraw pension funds, in the case of people affected by a terminal illness.
It returns to the Constitution Commission for its discussion in particular.
– Deputies and Deputies of Chile (@Camara_cl) November 10, 2020
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