Chilean pension fund industry braces for reform

New president wants change • M&A activity expected to be strong in 2006 • Private medical policyholder numbers decline

The new administration of president Michelle Bachelet, which takes over on March 11 for a four year term, has flagged up the pensions industry for reform. A commission will be created for all stakeholders to work towards a draft project to be sent to congress in the second half of the year.