Turn. Management Dina Boluarte argues that the measure would require an expense of S/40,856 million. In addition, it would encourage contributors to the public system to join an AFP.
The Executive Branch decided to observe, on January 30, the signature of the law that updates the recognition bond for contributors and ex-contributors of the Pension Standardization Office (ONP) who have decided or decide to move to the Private Pension System (SPP).
The initiative, which will return to committees for a new evaluation, seeks to reward the contributions of those affiliated with the National Pension System (ONP) who migrated to the Private AFP System from 2002 onwards. Previously, the cutoff for these bonds was at 1992, 1996 and 2001.
reasons
According to Governmentthe autograph approved in plenary session “becomes unconstitutional for affecting the protection of the pensions of the pensioner population of the National Pension System (SNP), based on a social security model and, on the other hand, because the affiliates who migrate to the SPP will have an Individual Capitalization Account without a fund (on withdrawing 95.5%), which means that they will not receive a pension effectively, giving rise to lack of protection social”.
They also argue that the initiative promotes the departure of current members of the SNP, which weakens the main source of resources available to the SNP to pay pensions.
“It generates incentives for SNP contributors to join the SPP, attracted by the option of making withdrawals from their pension fund. Consequently, the measure would end up eroding the critical mass of contributing affiliates required by the pay-as-you-go system to cover the financing of the pension payroll, the deficit currently presented by the SNP would worsen, by weakening the main source of resources (contributions) with that counts for the payment of pensions”, reads the observations of the Executive Branch sent to Congress.
Economic impact
Along these lines, they point out that the economic impact of the legislative initiative would amount to S/40,856 million. This is because it would include not only the recognition of contributions, via a recognition bonus, to SNP affiliates who transferred to the SPP from 2002 onwards, but also to current affiliates who have strong incentives to migrate to the SPP. Finally, let us remember that from 2002 to December 2021, there were 3.1 million workers affiliated with the SNP, who made at least one contribution and later transferred to the SPP. Thus, for this concept, the impact would be S/5,855 million.
The data
I root. Currently, according to the INEI, more than 2.5 million compatriots are affiliated with the SNP. Those who intend to migrate to the AFP would not now receive said recognition bonus because the regulations only apply to those who contributed up to 2001.
Source: Larepublica
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