Chile's Retirees Find Shortfall in Private Plan
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Chileans are finding that their pension system, which President Bush has cited as a model for his overhaul of Social Security, is falling short of expectations.
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By Katie Burford SANTIAGO, Chile  - When 30-year-old Jose Bermudezabandoned Lima for the promise of a job in Chile, he was amongthe last in his family to leave Peru.
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Chile's foreign and defense ministers stepped down Wednesday in moves making it easier for them to seek public office.
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Employees' savings are on average Â£51,000 short of the sum needed to fund a comfortable retirement, a report says.
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Retirees face a whopping medical bill in their golden years.
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SANTIAGO, Chile  - Former Chilean dictator AugustoPinochet has offered to pay $5 million in back taxes in hopesthat his assets would be unfrozen, but government officialssaid Monday that the courts would press on with embezzlementand tax evasion investigations.
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Chile's congress backed a pension reform bill Wednesday to ensure the country's landmark social security program for the first time covers every citizen.
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If you're not prepared, inflation can ruin your retirement.
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Money is running out for some local governments who use pension funds to help pay for retired workersâ health care.
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The federal agency that protects private sector pension plans announced yesterday that the maximum annual benefit for plans taken over in 2005 will be $45,614 for workers who wait until age 65 to retire.
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SANTIAGO, Chile  - Former Chilean dictator Augusto  Pinochet has offered to pay $5 million in back taxes in hopes  that his assets would be unfrozen, but government officials  said Monday that the courts would press on with embezzlement  and tax evasion investigations.
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Insulated from lawsuits by their corporate structures, large private investors in nursing homes have cut jobs and other expenses.
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With tens of thousands of U.S. nuns over age 70, the Roman Catholic Church is facing a massive financial shortfall for the care of retirees in religious orders &#151; a gap that over the long term dwarfs costs from the clergy abuse crisis.
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Time is on their side when it comes to earning money for retirement.
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The U.S. Medicare program will charge   lower than expected premiums next year in the U.S. health   insurance plan for the elderly, but wealthier recipients for   the first time will pay more for doctor visits and other care   outside the hospital.
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SANTIAGO, Chile - Many Chileans tortured during the dictatorship of Gen. Augusto Pinochet are rejecting a government offer of symbolic payments more than 30 years later, demanding substantial compensation instead and legal action against torturers.
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A Chilean appeals court on Friday dropped corruption charges against former dictator Gen. Augusto Pinochet's widow and four of his children, who had been accused of misuse of state funds related to multimillion-dollar overseas bank accounts.