AbstractIn October 2019, Chile experienced its most significant cycle of protests since the return to democracy in 1990; one of the primary demands of this cycle was the improvement of pensions. What effect did the October upheaval have on the Chilean pension policy debate? How have ideas about the Chilean pension plan changed from its creation in 1981−2019? What are the main drivers of these changes? In this study, we propose the concept of policy space, which we define as the realm of ideas wherein public policies are debated and whose boundaries are determined by the legitimacy of ideas from relevant actors. We use a process‐tracing approach based on qualitative data triangulation from several techniques including in‐depth interviews, press analysis, and secondary document review. The findings indicate that the shift in the ideas related to pension policy is explained by two drivers—long‐term linkage among actors and short‐term social mobilization against the private pension system, which accelerated rapidly with the October 2019 protests.