Multisectoral Commission for the reform of the pension system will depend on the MEF, no longer on the PCM

The Executive Branch modified articles 1, 2 and 5 of Supreme Decree No. 081-2022-PCM, which creates the temporary Multisectoral Commission in charge of preparing technical reports that contain an evaluation of the Peruvian pension system, as well as a proposal regulations to create the new pension system.

In this way, according to Supreme Decree No. 045-2023-PCM, published today in El Peruano, it is indicated that the aforementioned working group will depend on the Ministry of Economy and Finance. In this sense, its conformation is reorganized and it is established that the person who will chair it will be the Vice Minister of Economy and Finance, a responsibility that previously fell to the President of the Council of Ministers. The new conformation is as follows:

• The Vice Minister of Economy of the Ministry of Economy and Finance, who chairs it
• The Vice Minister of Finance of the Ministry of Economy and Finance
• The Vice Minister of Labor of the Ministry of Labor and Employment Promotion
• A representative of the Presidency of the Council of Ministers
• A representative of the Central Reserve Bank of Peru
• A representative of the Superintendency of Banking, Insurance and AFP.

Likewise, the sections that specified that the members of the Multisectoral Commission have an alternate representative and that the exercise of these functions is ad honorem were withdrawn.

Finally, it is specified that the Technical Secretariat of the Multisectoral Commission is in charge of the General Directorate of Financial Markets and Private Pension of the Ministry of Economy and Finance, in charge of providing technical and administrative support to the Multisectoral Commission. Previously, this function corresponded to the Secretariat of Public Management of the PCM.

The Multisector Commission is valid until May 31 of this year, so that, in June, the proposal for the reform of the pension system should be delivered.