The pension reform is considered good news for Chile, since it will allow pensions to about 2.8 million of retired people.
Since March 2025 they are Operations various concrete benefits of the reform, including the end of the payment of collection costs and the implementation of pension lagoons insurance. Employers have also resumed their contribution to the pension system after 43 years, with an additional 1% pension contribution from the remuneration of August 2025.
This new price will increase progressively until 7% plus disability and survival insurance in 2033, Without affecting the liquid salary of workers, since the employer is financed directly. Much of the new contributions will be allocated to Social Security, with the aim of especially improving the pensions of the current retirees, while another percentage will go to individual accounts.
Increase of PGU in 2025
On September 1, 2025, the Universal Guaranteed Pension (PGU) will increase from $ 224,000 to $ 250,000, thanks to the pension reform. This increase will be gradual, starting with people 82 years or more.
In detail, those who are 82 years or more fulfilled until September 30 will automatically receive the increase from that month. Those who turn 82 between October 2025 and August 2026 will see the increase in the month of their birthday. Since September 2026, the benefit will be extended to those who are 75 years old or more, and from 2027 to all pensioners 65 years of age or older.
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New increases in 2026
As of January 2026, pensions will rise between 14% and 35%, within the framework of the benefits established by the reform.
This adjustment is explained by the entry into force of the benefit for quoted years and compensation for life expectancy, both funded by Social Security. The first seeks to recognize the effort of a working life, while the second is designed to correct gender gaps in the pension system, considering that women have greater life expectancy.
