The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, assured that the reform of the pension system —gestated on various fronts from Congress— must aim at the creation of an individual attention system, considering that the solidarity model of the ONP is unsustainable over time.
“In the long run we are going to have a sustainability problem if an individual pension system has not been created,” he said during the presentation of the June Inflation Report.
In the banker’s opinion, the ONP should bet on notional accounts to improve the remuneration of workers at the time of their retirement.
It is worth noting that the BCRP raised these notional accounts —which is based on the contribution of each affiliate— so that their pension is governed by this criterion and not by a fixed one that the ONP has, which ranges between S/500 and S/893 per month. month.
“The notional accounts (would be governed) based on the yield of the interest rate of the treasury bonds,” said Velarde.
And should pensions be covered with tripartite contributions?
“It doesn’t matter,” Velarde objected when asked by this newspaper, since in the end only perception is affected, since with the employer’s contributions —as determined by the ILO in an agreement signed with Peru— the salary received by an employee.
Source: Larepublica
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