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Argentina πŸ‡¦πŸ‡· passes πŸ‘ pension reform despite violent protests





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Argentina's government has passed a controversial reform of the country's pension system amid violent protests.

Clashes between protesters and police broke out on Monday ahead of the vote, amid fears the changes would have a heavy impact on the poor.

But the governing coalition managed to push through the changes on Tuesday, winning the vote 128-116.
President Mauricio Macri's government said the move was needed to lower the deficit.
One of the controversial changes in the new law is moving the retirement age from 65 to 70 for men and from 60 to 63 for women.
At the same time, changes are to be made to the formula used to calculate payments, which is expected to lower the amounts paid.
The Senate had already approved the bill. But the vote in the lower house, originally scheduled for last Thursday, had been delayed because of civil unrest.
After the initial disruption, President Macri promised an additional payment to existing pensioners as a concession. But demonstrations continued when lawmakers returned to the debate in congress.

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