How Latin Americans Are Using Pensions As a COVID-19 Lifeline
How Latin Americans Are Using Pensions As a COVID-19 Lifeline
In Chile, Peru and elsewhere, governments are loosening regulations on pension withdrawals. What are the risks?
Struggling to cope with the economic costs of COVID-19, Latin American governments are taking a closer look at their pension systems In Chile, a new law allows citizens of any age to take up to 10% out of their retirement accounts In Peru, savers were recently permitted to withdraw as much as 25% of their private retirement savings ahead of schedule El Salvador, the Dominican Republic and others are also looking at old-age safety nets as an option to help people deal with unemployment and lost income But experts caution that loosening pension withdrawal rules could carry significant...
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