Congress approves early pension withdrawal in Peru

Congress approves early pension withdrawal in Peru

Economy & Policy Funds Capital Markets Regulation Politics Peru

Peru's Congress has passed a bill that gives private pension contributors the option to withdraw up to PEN18,400 ($4,856) from their retirement savings, despite objections from the central bank and the finance ministry. Lawmakers approved the bill on Wednesday night 107 votes in favor and eight against with proponents arguing the cash will help ease the economic blow from the COVID-19 pandemic, according to an official statement from Congress. The bill, which marks the sixth early withdrawal sin

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