Workers protest against low pensions
Chilean workers have staged a huge rally in the capital Santiago to protest against the government's pension system.
On Sunday, more than 100,000 Chileans marched through the city, armed with posters and paintings, while ringing bells and blowing whistles.
Similar protests were held in several other cities across Chile.
Chilean protesters stage huge rally to protest against the Pension Fund Administrator (AFP) in the capital Santiago on July 24, 2016. (AFP Photo)
The protesters claim the current pension system, created during the reign of former president Augusto Pinochet (1973-1990), is unfair and compensates workers with very low payments.
The Administradoras de Fondos de Pensiones (AFP) gets 13% of workers’ salaries during their working lives.
Pensioners claim the remuneration received from AFP afterwards, during retirement, is less than the amount paid in terms of value.
The protests were organized by the workers’ Coordinadora de Trabajadores (Labor Union).
Julia Miranda, an indignant Chilean worker, described AFP as a "bloodsucking” organization, “that robs us of our savings”.
Protesters demanded a return to the pension system that existed before 1981, when the AFP was created.
"It's a shame. Chile is the laughing stock of the world for its continued use of this system of provisional savings in the AFP, which at the end pays us miserable pensions," said Luis Messina, a spokesman for the group 'NO+AFP'.
Socialist President Michelle Bachelet has established a commission to draft a series of proposals to reform the current pension system.
Last year, the reforms proposed by the commission sparked debate among critics and supporters of the AFP.
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