Challenge. Faced with greater life expectancy, they ask to guarantee social protection with a reform of the pension system.
Life expectancy at birth in Peru would be 83 years between 2050 and 2055. This would make it the fifth country with the largest population in the region, with around 40 million inhabitants, according to the National Center for Strategic Planning (Ceplan).
The entity also explains that most countries in the world are experiencing an increase in the number and proportion of people over 65 years of age. Thus, by 2050, it is expected that 21.4% of the population are over 60 years old, compared to an estimated 13.5% for 2020 and, by 2100, it is estimated that around 28.2% of the world’s population will be 60 years of age or older.
In this context, the progressive aging of the population raises the need to have pension systems that protect the elderly and their families in the future, in such a way that the social protection of people is guaranteed at all times, points out Arturo García, Professor of Finance at ESAN Graduate School of Business.
According to García, in the case of Peru, the pension system must undergo a reform that includes some alternative so that independent workers can also make their contributions. This is due to the high percentage of informality existing in the country. “Perhaps here the State could help so that (the independents) can set up a pension fund,” he says.
Another characteristic that this reform should consider is the determination of a minimum pension for retired workers, says García.
“Although it is true that this deserves an effort from the State, It is better than having elderly populations without resources tomorrow and in a situation of poverty”, he emphasizes.
Indeed, in July of last year, the Executive Branch created the temporary Multisectoral Commission, in charge of preparing technical reports that contain an evaluation of the Peruvian Pension System, as well as a regulatory proposal to propose the new pension system. The validity of said group was six months; however, it was recently extended until May 31, 2023.
The multi-sector team already has a work plan that contains the schedule of activities to be carried out.
population aging
One of the factors behind the aging of the population is that global fertility is expected to continue to decline, in line with the decrease in the number of births per woman. It has been recorded that, currently, women conceive half as many sons and daughters as 70 years ago, when there were approximately 5 births on average, according to Ceplan.
Source: Larepublica
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