Reform of the pension system: MEF acknowledges that it does not yet have a proposal

In mid-February, the head of the Ministry of Economy and Finance (MEF), Alex Contreras, announced that the agreed proposal of the Executive Power for the reform of the pension system would be presented in March, but, two days before the end of the month, They have not even submitted their evaluation of the current model.

“The Multisectoral Commission of the Executive until today, having been installed a year ago, does not send the diagnostic report or even its proposal. We are late”warned Rosangella Barbarán (Popular Force), president of the Economic Commission of Congress.

And it is that, during a meeting held this Wednesday with some legislators and representatives of the MEF, BCRP, SBS and AFP, the Vice Minister of Economy, Zósimo Pichihua, acknowledged that “we still do not have a formal proposal, in black and white” for the reform pension, although “there have been elements of discussion with other entities”.

It is worth clarifying that the Government extended until May 31 the validity of the Multisectoral Commission of the PCM that is working on this initiative, but there is still no consolidated proposal, stressed Pichihua.

MEF will not prioritize seed capital for future pensions

The AFPs propose a seed capital, in which the State must establish a fund for each Peruvian born as a base that is capitalized until they reach 65 years of age.

“We do not eliminate any option that is feasible to grow the volume of contributors, but we have a ranking of those options. Being valid, the seed capital is not the first because we have opportunity costs of State resources,” said the vice minister of the MEF .

Pichihua clarifies that they will not prioritize seed capital because retirees and the half million children born each year must now be attended to and therefore, care must be taken for those “already involved” with “fiscally sustainable mechanisms.”