Government accepts Larraín's resignation and appoints Pizarro to the Pension Council

The Government accepted the resignation of Guillermo Andrés Larraín Ríos from the presidency of the Pension Advisory Council and appointed Pedro Ignacio Pizarro Cañas as his replacement, through Supreme Decree No. 70, dated May 27, 2026, from the Ministry of Labor and Social Security. The decision, signed by the President of the Republic, José Antonio Kast Rist, was published in the Official Gazette of the Republic of Chile on Monday, October 5, 2026 (No. 44,566, Section I, pp. 1-2, CVE 2877539). Both the accepted resignation and the new appointment are effective as of May 27, 2026.

The Pension Advisory Council is the body established in the eighth paragraph of Title II of Law No. 20,255 of 2008, which establishes the Pension Reform, the matters of which are detailed in articles 66 to 73. Its presidency had been held by Larraín Ríos by Supreme Decree No. 09, dated March 15, 2024, also from the Ministry of Labor and Social Security.

The departure of Larraín Ríos

According to the recitals of the decree, Guillermo Larraín Ríos placed his position at the disposal of the President of the Republic via a letter dated March 18, 2026, in accordance with literal a) of article 70 of Law No. 20,255 and article 15 of Supreme Decree No. 51 of 2008, from the Ministry of Labor and Social Security.

Supreme Decree No. 70 expressly provides:

• To accept, as of May 27, 2026, the resignation of Guillermo Larraín Ríos, RUN No. 9,057,005-6, as President of the Pension Advisory Council.
• To appoint Pedro Ignacio Pizarro Cañas, RUN No. 10,638,847-4, as President of the Pension Advisory Council, as of May 27, 2026.

The new president

Pedro Ignacio Pizarro Cañas will assume his duties without waiting for the full processing of the decree, “for reasons of good service,” according to the official text. The appointment is based on the powers and requirements established by Law No. 20,255 of 2008, and by Supreme Decree No. 51 of 2008, from the Ministry of Labor and Social Security.

Regulatory framework and signatories

The decree invokes, among other regulations:

• Law No. 20,255 of 2008, which establishes the Pension Reform.
• Supreme Decree No. 51 of 2008, from the Ministry of Labor and Social Security.
• Law No. 21,796, on the Public Sector Budget for the year 2026.
• Supreme Decree No. 38 of 2026, from the Ministry of the Interior, which appoints Ministers of State.
• Supreme Decree No. 19 of 2026, which appoints María Elisa Cabezón Otero as Undersecretary of Social Security.
• Resolution No. 36 of 2024, from the Comptroller General of the Republic, regarding the exemption from the toma de razón (legal review) process.

The document bears the signatures of José Antonio Kast Rist, President of the Republic; Tomás Rau Binder, Minister of Labor and Social Security; and Jorge Quiroz Castro, Minister of Finance. The transcription corresponds to Elisa Cabezón Otero, Undersecretary of Social Security.

The renewal of the presidency of the Pension Advisory Council carries direct weight over pension policy: it is the body that issues technical opinion reports on matters such as the updating of the CASEN thresholds and the Pension Targeting Score that define access to the Universal Guaranteed Pension and the Solidarity Pension System. Furthermore, the change in leadership of the advisory body comes in a year when those definitions are under review.

Source: Official Gazette of the Republic of Chile, No. 44,566, Monday, October 5, 2026, Section I (Laws, Regulations, Decrees and General Order Resolutions), pp. 1-2 (official reference: CVE 2877539).