Age pension rights


Santiago, July 24. Photo: EFE.

Pressured by the recent large protests rejecting the private system of pensions inherited from the Pinochet dictatorship, Chile's President Michelle Bachelet announced on July 26 that her administration would reform the system.

Many people are dismayed that the Greens have supported the Coalition government’s age pension cuts. Greens’ social media has been awash with commentary, with many people venting their anger at the Greens.

Some have defended the deal, trusting the Greens to do the right thing and labelling criticism as Labor propaganda. Others just want an explanation.

The federal government is keen to cut the age pension. Its latest proposal to double the taper rate on the assets test has been supported by the Greens on the basis that this measure will reduce government support to those with significant wealth.

The Greens also hoped that by supporting these pension cuts, the government would rein in tax concessions on superannuation. However, the government has since publicly ruled out any superannuation changes.

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