He Congress of the republic, To date, it has presented six bills so that members of the Private Pension Fund Administration System (AFP) can extraordinary release up to S/19,800 (4 UIT) of the funds accumulated in their individual capitalization accounts.
The proposals have been unanimously rejected by the Ministry of Economy and Finance (MEF), the Central Reserve Bank of Peru (BCRP) and the Association of Pension Fund Administrators (AAFP).
He vice minister of economyZosimo Pichihua Serna, and the central manager of economic studies of the BCRPAdrián Armas, during his presentation at the Legislative Commission on the Economy, Banking, Finance and Financial Intelligence, agreed that a new withdrawal of funds from the AFPs would put the Private Pension System at risk.
At the discretion of the MEF representative, a new withdrawal of funds would imply the outflow of between S/22 and S/25,000 million of AFP funds, which could increase poverty levels, given the informality of the labor market (only 30% of the economically active population has a formal job and 70% is in the informal sector).
For his part, Adrián Armas considers that a new withdrawal of AFP funds distorts the objective of the pension funds; reduces pension savings; it raises the cost of financing the public budget, by increasing the interest rates of the Public Treasury bonds would generate greater inflationary pressures.
Likewise, the central manager of economic studies of the BCRP warned that early withdrawals of funds have eroded pension savings and that, if these types of measures continue to be approved, there is a risk of becoming one of the countries with the greatest future vulnerability in the future. pension issue.
Source: Larepublica
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