Chile's Ministry of Finance sent a new appointment request to the Senate to fill a seat on the governing council of the Autonomous Pension Protection Fund (FAPP), created under Law 21.735 as part of the new mixed pension system and a social insurance scheme in the contributory pillar. The government proposed lawyer Rosario Celedón Förster for a six-year term as an FAPP council member. Celedón previously led the Central Bank of Chile’s Financial Policy Division and has held senior roles at the Central Bank and the Financial Market Commission (CMF), as well as positions in the Ministry of Finance focused on capital markets. The nomination follows the ineligibility of Soledad Hormazábal and relates to the FAPP’s role in safeguarding the financial sustainability of funding for social pension insurance benefits. The Senate will vote on the nomination by simple majority. The Ministry of Finance indicated the change does not affect implementation deadlines in the law, under which the FAPP council must be constituted by 1 August 2025.
Ministry of Finance (Chile) 2025-06-19
Chile's Ministry of Finance submits Rosario Celedón nomination to the Senate for the Autonomous Pension Protection Fund governing council
Chile's Ministry of Finance has nominated Rosario Celedón Förster to the Senate for a six-year term on the governing council of the Autonomous Pension Protection Fund (FAPP). Celedón, with a background in the Central Bank of Chile and the Financial Market Commission, is proposed following Soledad Hormazábal's ineligibility. The Senate will decide on the nomination by simple majority, with no impact on the FAPP's implementation deadlines.