The Chamber has declared the processing of a bill that seeks compensation for losses in Funds D and E to be admissible

BioBioChileIndependentCenterNov 2

The Chilean Chamber of Deputies has approved the admissibility of the legislative project known as 'Devuelvan la Plata' (Return the Money). This initiative aims to compel private pension funds, known as AFPs, to reimburse investors for financial losses incurred during market downturns. The approval allows the bill to proceed through the legislative process, where it will face further debate and potential amendments. The move addresses long-standing criticisms regarding the risk allocation between individual savers and the pension management companies. No specific timeline for final passage was provided in the available text.

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La TerceraIndependent🔒CenterNov 2

The Chilean Chamber of Deputies declared admissible a bill proposed by Communist Party members seeking compensation for pension fund losses in funds D and E between January and September 2026. The plenary vote reversed a previous ruling of inadmissibility by the chamber’s presiding board, which had argued that the measure encroached on the President’s exclusive constitutional authority over social security matters. The decision passed with 73 votes in favor, 53 against, and two abstentions, notably including support from several government-aligned deputies. Proponents, such as deputy Luis Cuello, argued the bill establishes a right to financial reparation for asset damage rather than altering pension rules, citing approximately USD 11 billion in estimated losses. Opponents, including deputy José Antonio Kast, maintained that pensions inherently fall under social security, making the legislative initiative unconstitutional. The ruling allows the bill to proceed through the legislative process but does not constitute final approval of the compensation mechanism.

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