In Pandemic-Hit Chile, Lawmakers Approve Bill for Early Access to Retirement Savings

Chile’s Senate authorized a monthly bill Wednesday enabling personnel battling with the country’s pandemic-induced financial meltdown to withdraw part of their contributions to non-public pension resources, delivering a blow to President Sebastián Piñera’s government and alarming economists who say it could damage a restoration.

The monthly bill was staunchly opposed by Mr. Piñera, who unsuccessful to convince lawmakers, some within his very own heart-right coalition, to go away the $200 billion pension method by itself. Officials had promised alternatively to ramp up emergency…