CUT presents remedies of protection against four AFPs

SANTIAGO.- Four remedies of protection, one against each Pension Fund Administrator (AFP), was presented this morning by the president of the United Workers' Union (CUT), Arturo Martínez, in representation of the 500 employees that have complained after losing their mandatory retirement savings as a result of the economic crisis and lack of freedom to decide what their money would be invested in.

"The idea behind these remedies is that the court will uphold them so that we can sue the AFP so that they will return the funds the workers have lost over the last 12 months", explained the organization's leader.

Martínez arrived at the Palace of Tribunals along with dozens of workers carrying banners and taking part in a lively protest.

"Each worker has lost a significant amount of money, which is going to mean that they will receive a very low pension during retirement. A worker that had 80 million pesos in an AFP has lost 20 million pesos over the last 12 months and I think that it is now time for someone to take care of the matter", Martínez asserted.