Original article: Parlamentarios PC presentan proyecto “Devuelvan la plata” para obligar a las AFP a restituir pérdidas millonarias de los fondos de pensiones

Chilean Lawmakers Introduce ‘Return the Money’ Bill to Compensate Pension Fund Losses

Senator Daniel Núñez (PC) and Deputy Luis Cuello (PC) have introduced a new bill titled ‘Return the Money’, aimed at compelling AFP agencies to compensate workers for losses incurred in their retirement savings due to speculative financial operations linked to U.S. interest rates.

The bill requires AFPs to compensate members of Fund E who experienced losses between January and September 2026 within one year of the law’s enactment, restoring the difference in their savings adjusted for inflation, particularly safeguarding those nearing retirement.

Fund E, recognized as the most conservative within the system and encompassing nearly 770,000 members, suffered a real decline of 10.39% from January to September 2026. According to data referenced in the bill, AFP’s financial derivatives transactions resulted in valuation losses of approximately $7.7 billion, with an estimated impact exceeding $11 billion on pension savings.

Senator Daniel Núñez (PC) emphasized that this initiative seeks to legally establish the obligation of AFPs to restore lost resources. «The AFPs speculated with the savings of workers; they must be held accountable and return the money to the members,» he asserted.

Additionally, the senator pointed out existing administrative mechanisms to enforce accountability but warned that these can be bureaucratic and cumbersome. «That is why we have chosen this route—a legislative approach through a bill that mandates the return of all funds lost by the AFPs due to their speculative investments,» he stated.

Meanwhile, Deputy Luis Cuello (PC) urged the Government to support the initiative, criticizing the lack of a concrete response for affected members so far: «Until now, the AFPs have offered justifications, and the Government expresses concern. However, what people are expecting today is a concrete answer. This concrete answer is returning workers’ savings,» he expressed.

Cuello further added that «it is not enough to claim it was a misstep, that everything was done legally, because that is not the case,» insisting the Executive must endorse the bill to expedite its processing. «We urge the Government to sponsor it so that a concrete response is provided to workers who have made sacrifices, only to have their efforts squandered by an illegitimate industry that lacks ethical standards and exploits workers,» he stressed.

You can review the ‘Return the Money’ bill below: