Jara on AFP Reform: Political Hurdles and Phased Approach

Chilean Presidential Candidate Jara Addresses Challenges of AFP Reform Santiago, Chile – Presidential candidate Beatriz Sánchez Jara recently addressed the complexities of reforming Chile's private pension system, known as the AFP. In a segment broadcast on T13, Jara acknowledged the widespread public support for ending the AFPs. However, she highlighted the significant political obstacles to immediate change. "Many people say 'end the AFPs,' but the truth is, there's a large bloc in Congress that defends them," Jara stated. Her proposed solution involves a gradual transition, incorporating the shift to generational funds and addressing the concerns of current affiliates. This phased approach aims to navigate the political landscape while working towards a reformed pension system. The T13 segment underscores the significant political hurdles facing this crucial policy debate in Chile.