On September 1, Congressman Américo Gonza (Libre Peru) presented a bill that seeks to repeal the rule that created the private pension system, in such a way that the AFP are forced to return 100% of the funds to affiliates within six months. In this regard, the president of the Association of Pension Fund Administrators (AAFP), Giovanna Prialé, told The Republic that said measure would take us away from the path to the OECD, an international group to which Peru seeks to join.
“It is a measure that obviously does not respond to an objective as a country, (…) It would take us much further away from the path of the OECD, which seeks to avoid poverty in old age, minimum pensions for all populations and seek equity in the population. And equity is equal conditions for the better, not deterioration of conditions,” Prialé said.
According to the representative of the four AFP that operate in the country, the countries in the world are heading towards individual capitalization systems in order to have more sources of savings, since people are living longer and the birth rate is decreasing. “If we all spent our savings today, assuming it was possible, what would happen to future generations?” he said. In this way, he stressed that the bill does not make it clear who is intended to benefit.
A seventh withdrawal “is impossible”, according to AFP
As recalled, the president of the Economic Commission, César Revilla (Popular Force), affirmed that the bills that propose to authorize a seventh withdrawal of funds from the AFP. For example, how many workers have 4 UITs to withdraw would be reviewed, which would leave open the possibility of authorizing a limited provision of funds that meets certain criteria.
In this regard, Prialé argued that a seventh withdrawal is “impossible” and that what must be done is to implement measures that generate better living conditions for users. Besides, He subscribed to the words of the Minister of Economy and Finance, who said that for every S/1,000 that is withdrawn from the funds, they translate into S/18,000 at the time of retirement.
“Definitely not. I think talking about a seventh retreat is impossible in our country. I believe that you always have to be humble, the economy has to borrow from finance and behavioral economics, tools to find comprehensive solutions. Our country needs to generate employment, economic reactivation, better living conditions, and that requires an active fiscal policy and also more private investment,” he explained.
Source: Larepublica
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