Protesters in Chile demand an end to private pension funds

Описание: (30 Mar 2025)

FOR CLEAN VERSION SEE STORY NUMBER: 4565460

RESTRICTION SUMMARY:
ASSOCIATED PRESS
Santiago, Chile - 30 March 2025
1. Protesters marching with flags and banners
2. Protester carrying Chilean flag
3. SOUNDBITE (Spanish) Luis Mesina, Spokesman of the No more AFP (Pension Fund Administrators):
++SHOTS 4-8 OVER SOUNDBITE++
“Here are the people connected to the world of education, residents, health workers, and of course the people fighting for pensions, which are the four most important demands raised in the October 2019 uprising. After five years, we have to lament that they are worse than they were five years ago. That's why the fight for these demands remains fully alive, and we are here for it.”
4. Elderly couple holding hands, carrying posters, left one reading (Spanish) "AFP: hunger retirement" and right one reading (Spanish) "no individual contribution. Solidarity distribution."
5. Various of protesters holding a banner reading (Spanish) "No more AFP, Enough lies, (Gabriel) Boric"
6. Man chanting "Repeal the immoral reform"
7. Women marching with a banner reading (Spanish) "Women demand decent pensions"
8. Woman blowing a whistle with her hand raised
9. Woman raising her cane and shouts
10. People marching with a banner reading (Spanish) "Long live the unions"
11. Man holding a banner marching
12. Protesters carrying a banner reading (Spanish) "Down with Boric's reform, break the truce with the government"
13. Person covering himself from the rain with the No More AFP flag
STORYLINE:
Hundreds of Chileans took to the streets of Santiago and other cities Sunday to demand the end of pension fund management companies, known as AFPs.

At the end of January, the Chilean Congress approved a bill to overhaul the country's pension system, an initiative considered one of the flagship initiatives of the government led by leftist Gabriel Boric, whose debate had been postponed for two years.

The bill was signed into law last week.

Chile's current pension system dates back to 1980, when the so-called "AFP System" or "Individual Capitalization System" was established.

This model established a highly individual financing mechanism based on each worker's personal, but mandatory, savings throughout their working life.

Social security reform is considered one of the main demands of Chileans, and it became one of the driving forces behind the mass protests that shook the country in 2019 and 2020.

Tens of thousands of people marched to demand changes to the Constitution and structural reforms in areas such as pensions, education, and healthcare.

AP video by Alexandre Plaza

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