Chile plans to reform controversial pension program next year

FILE PHOTO: A demonstrator throws a stone to a Chilean Pension Fund Administrator (AFP) building during a protest at Providencia, a wealthy neighborhood, in Santiago, Chile November 6, 2019. REUTERS/Jorge Silva

The Chilean government will send a long-awaited bill to reform the country's controversial private pension system to congress next year, Finance Minister Mario Marcel said on Tuesday.

Reforming the current system, Pension Fund Administrators (AFP), was one of the biggest demands demonstrators had during the 2019 protests. One of the biggest complaints against the system is its low-paying pensions.