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An important step was taken this Thursday by counterproposal of the Government for the withdrawal of pension savings: it was approved, by a large majority, by the Senate, in its first legislative process.
The bill, which underwent important modifications, obtained 35 votes in favor -at least 15 from the opposition-, and only one against and five abstentions.
Before its vote in the Chamber, in its passage through the joint Finance and Labor commissions, the initiative was modified in almost all its points, being very different from what was originally proposed by La Moneda and resulting the closest thing to the first withdrawal.
In that process mandatory withdrawal removed and it was also left without the exclusions it established for those who could withdraw funds, leaving it universal.
Likewise, the maximum to be extracted was increased, from 100 to 150 FU -like the first withdrawal-, and the payment terms were reduced in two installments: from 60 business days for the first and 10 days for the second, it was reduced to 15 business days for the first and the same term for the second.
✅ Approved I By 35 votes in favor, 1 against and 5 abstentions, the Senate Chamber supports in general and in particular the government bill that allows the withdrawal of pension funds.
Keep going. There are separate voting requests and directions. pic.twitter.com/xmQLyZIYuG
– SenadoChile (@Senado_Chile) November 26, 2020
SEPARATE VOTING
Other votes on the project are still pending, after senators asked to analyze other points separately.
One of them was regarding an indication from Senator Carlos Bianchi, who wanted to leave the payment in a single installment, however, he later decided to withdraw his request. Thus, the project was left with the two quotas proposed by the Government.
Another pending vote is a indication of senators Bianchi, Adriana Muñoz (PPD) and Yasna Provoste (DC), which advocates exempt from paying taxes for the withdrawal of funds.
In the absence of completing that, the Executive’s initiative is in a position to advance to its second process in the Chamber of Deputies and Deputies.
Earlier, the same Senate rejected -in second process- the constitutional reform originated in the Lower House to promote the second withdrawal, which the Government has already challenged before the Constitutional Court. In this way, this text will go to a mixed commission of senators and deputies.
Key to this was the withdrawal of the five pro-government senators who had pledged their vote for the constitutional reform, but who finally ended up supporting the government’s initiative.
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