A journalistic team in nine Latin American countries will show how a pension system model born in Chile and then exported regionally only finances the power concentration in a few business groups or governments, but not reach its main goal of giving pensions that ensure a minimum level of life's quality during the most vulnerable stage.
The problem of low pensions is the main claim of the social outburst started last October in Chile. Our reporting will show the systematic problem behind the model, which puts the whole responsibility of the pensions’ level on the size of workers’ salaries and job stability.
Under this system, private pension managers invest the workers’ funds, which currently reach more than $500 billion*. With the processing of more than 6 million registers, we will reveal through the app "Track your money" how much of the funds were invested in companies of the same economic group of the manager, and in others sanctioned for bribery or abuses of consumer or worker rights. Our team trusts in the power of collaborative journalism to generate a regional discussion and impact.
Chile has attempted to reform or replace this system several times, but has failed to do so, even after the social outburst.
* International Association of Pension Fund Supervisory Organizations