Chile’s congress has approved a landmark reform to its private pension system whose meagre payouts fuelled disruptive mass demonstrations six years ago that roiled the politics of the prosperous South American nation.

Chile approved a major reform of its pension system, which for many critics had come to symbolize the flaws in the country’s economic model.

Constitutional reforms proposed by Nicaragua's President Daniel Ortega to further consolidate power by extending his control over other parts of government won final approval on Thursday, after a unanimous vote.