Chile's Congress approved reforms to the pension system on 29 January 2025. The reforms are explained in a government release, including an increase in employer contributions. This includes a new contribution of 7% that will be charged to employers in addition to the current 1.5% contribution to disability and life insurance, reaching a total contribution of 8.5%. This will be implemented gradually over a period of 9 years, which may be extended to 11 years based on a collection assessment. Additional details will be published once available.