Chile’s Pinera Suffers Shock Court Defeat Over Pension Bill
- Court voted 7 to 3 to throw out Pinera’s request to block law
- Bill clears way for billion of dollars in pension withdrawals
This article is for subscribers only.
Chilean President Sebastian Pinera will sign into law a bill allowing billions of dollars in early pension withdrawals after the Constitutional Court threw out his bid to block the proposal.
The court voted 7 to 3 against his request, even before discussing the basis of the appeal, according to a statement. It didn’t immediately give its reasons. Shortly after, Pinera said in a televised speech that he will enact the legislation on Tuesday.