In addition, it should be pointed out that measures have been adopted which objectively promote the creation of Pension Fund Administrations by workers with the natural consequence of ensuring their participation in the administration of them. All of these methods are aimed precisely at having the workers themselves as the managers of these institutions. In this way a larger number of such institutions could be set up, having a very special character, which would be the easiest for that particular sector of workers to set up. Furthermore, the Executive has prepared for legislative action a draft Act lowering the minimum capital necessary for the setting up of an AFP.
Cuprum resources chile limitada how to#
With a view to the continued expansion of this method, the Labour Directorate is studying how to help trade union organisations in setting up Pension Fund Administrations. This is also the case for the group of copper mine supervisors (called CUPRUM) and for the body set up by workers in the education sector (called MAGISTER). In this way the AFP has assumed a trade union character. It was formed with capital contributions from workers affiliated to the Trade Union of the State Bank of Chile, one of the largest trade union organisations in the country. 3-500 with the aim of having pensions administrated by non-profit bodies, as required by the Convention, except in some cases where the state administration entrusted institutions set up at the initiative of the persons concerned or groups of them, being duly recognised by the public authorities the Government notes that the Pension Fund Administration (called AFP PROTECTION) was set up in 1986. The legislation in force also provides that before an administration of pension funds was declared bankrupt, the State had to cover all the present and future obligations of the bankrupt body.Īs for the measures adopted or envisaged to amend Legislative Decree No. It had been established that if the accumulated resources did not cover the financing of the minimum pension, this has had to be ensured by the State. The legislation in force in Chile envisages the participation of the public authorities in providing resources and insurance benefits.
Cuprum resources chile limitada series#
The outcome of this was the adoption of a series of measures, the details of which are given below. The Government has carefully and thoroughly analysed the observations made by the Committee of Experts on this Convention and on Conventions Nos. The Government has communicated the following information:
Individual Case (CAS) - Discussion: 1987, Publication: 73rd ILC session (1987)
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