How much money did Sebastian Pinera make as former president and what would happen to that lifelong diet?

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How much money did Sebastian Pinera make as former president and what would happen to that lifelong diet?

As it is known, all former Presidents of the Republic receive a lifetime pension after completing their term of office and this was also the case with former Head of State Sebastián Piñera.

His sudden death on Tuesday in Lake Ranco at the age of 74 also brought some questions about the said money, which was introduced as a project in 2000.

How Much Money Did Sebastian Pinera Make As Former President And What Would Happen To That Lifelong Diet?

Those figures, which also recently apply to Eduardo Frei Ruiz-Tagle, Ricardo Lagos and Michelle Bachelet, are determined by the Political Constitution of Chile, established in 1980.

In detail, this is set out in the third paragraph of Article 30 of the Magna Carta and the rules of the Parliamentary Diet apply to former leaders.

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How much money did Sebastian Pinera make and what will happen to it?

Sebastián Piñera received a significant allowance, according to details provided by the Senate website updated at the end of 2023.

Gross payouts as of December last year were $7,348,983. Now, taking into account tax, health and social security exemptions, the final amount was $6,111,679.

According to the same portal, that entity also pays monthly “travel and office operating expenses according to the base amount established for senators.” Thus, “Translations” amounted to $1,459,323 and “Office Operations” amounted to $8,495,313.

How Much Money Did Sebastian Pinera Make As Former President And What Would Happen To That Lifelong Diet?
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These amounts are calculated based on “accountability” that the former head of state sends to the Senate Finance Department each month.

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For example, the gross payment in December 2022 was $7,012,388 and the closing balance shown was $5,829,631.

And what will happen after death? “Since this is not a pension but a per diem pension paid on account of work performed, once the holder or beneficiary of this per diem dies, the benefit is reduced and then ceases . It’s not that it can be hereditary or that your spouse can inherit it,” Camilo Mirosevic, lawyer and academic at the Central University, tells ADN.cl.

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