1 thought on “Chile’s private pension system has weathered the crisis”

  1. Posted 27/07/2010 at 13:01 | Permalink

    It seems that this month the government has decided to reduce the real (indexed) value of my Universities Superannuation Scheme pension by perhaps ten per cent over the rest of my lifetime, by indexing it (from next April) to the Consumer Prices Index instead of (as heretofore) to the Retail Prices Index.

    I don’t blame casino capitalism for this: I blame government interference.

    As I wrote to the Financial Times: ‘Fiddling around with the index is the sort of thing that gives banana republics a bad name.’

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