Financial Times FT.com

Argentine opposition to pension bill grows

By Jude Webber in Buenos Aires

Published: October 27 2008 02:00 | Last updated: October 27 2008 02:00

Opposition Argentine politicians will step up calls for changes to the government’s surprise bill to nationalise private pension funds when the plan goes to Congress this week.

Key opposition figures have criticised the plan as an attempt to grab the 10 funds’ $30bn (€24bn, £19bn) pot of retirement savings and up to $5bn in yearly payments to stave off the spectre of default on Argentina’s $150bn debt.

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