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

Chile’s Senate authorized a monthly bill Wednesday enabling employees battling with the country’s pandemic-induced economic meltdown to withdraw portion of their contributions to personal pension cash, providing a blow to President Sebastián Piñera’s authorities and alarming economists who say it could hurt a recovery.

The monthly bill was staunchly opposed by Mr. Piñera, who unsuccessful to influence lawmakers, some in just his have center-suitable coalition, to leave the $200 billion pension system alone. Officers had promised alternatively to ramp up emergency…