In Chili Older adults have the opportunity to receive an important benefit: the Guaranteed Universal Pension (PGU). This monthly allowance, which is $214,296 and is adjusted according to the Consumer Price Index (CPI), is intended to provide financial assistance to retirees who meet certain criteria.
To be eligible for this valuable resource, applicants only need to meet four basic requirements. Firstly, they must be at least 65 years old, demonstrating the focus on supporting them in the later stages of life. Additionally, they are required not to be in the richest 10% of the population, which guarantees that bonuses reach those who need them most.
An important aspect is the residence permit in Chili for at least 20 years, either continuously or periodically starting at age 20. It shows a commitment to the country over time, reinforcing the idea that the PGU is a recognition of the contribution of these citizens to Chilean society.
Finally, the fourth requirement of bond is that the base pension is less than $1,158,355. This limit ensures that the benefit reaches those who need it most and significantly supplements their income.
The PGU application has been simplified through five free mechanisms, which include online options through the website and personal assistance in the different offices of Chile Atiende and the Social Security Institute (IPS). Video calls can also be made to request help, and the request can be attended to by the AFP or municipalities that have a contract with IPS. Ultimately, the bond of $214,000 is an important resource for retirees in Chile, and with only four basic requirements, it ensures reaching those who need it most, recognizing their contribution and commitment to society.
