With a view to the reform of the pension system, the holder of the Ministry of Economy and Finance (MEF)Alex Contreras, stressed that the number of entities that participate in the administration of the funds must be extended.
“We believe that competition should be expanded to generate lower commissions. The reform has to broaden competition. We are still coordinating with the Multisectoral Commission (the elaboration of your proposal)“The official told the media.
It is worth noting that, recently, the president of the Economic Commission of Congress, rosangella barbaranindicated that they plan to include financial entities within the AFP market, keeping individual accounts intangible.
This criterion, according to Barbarán, occurs because a bank can offer a return “with a fixed term of 8%” and thus the member “will be more sure of knowing who and how their money is managed.”
Added to this is the non-existence of a commission for performance, in which if profitability falls, the citizen ends up affected and “it is unfair that the money manager always wins.”
Source: Larepublica
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