Jorge Montoya: “Those who withdraw their AFP have to be aware that they will be left without a pension”

Faced with the proposal of the president of the Economy Commission, César Revilla (Fuerza Popular), that a seventh withdrawal of AFP only for the unemployed for a maximum amount of S/9,900 (2 UIT), Congressman Jorge Montoya of Renovación Popular pointed out that depending on the age of the workers it will be “impossible” for them to raise that money again, therefore, they will stay without pension.

“If you want to withdraw from the pension system and collect your savings, make the withdrawal, you will no longer have pensions. And it is impossible to recover it depending on the age of the person, because to have pensions you have to save 30 years, 40 years, no less. They are going to lose, they are going to be left unprotected. They have to be aware that they will not have a pension. That’s where his pension history ended,” Congressman Montoya told La República, after his participation in the XIV International Microfinance Congressin Tacna.

Regarding the proposal of the Ministry of Economy and Finance (MEF) Regarding opening the pension market and allowing other entities such as municipal funds to manage pension funds, the congressman from Renovación Popular stated that this is his initiative and that he thinks it is positive that the MEF has taken it. He added that, if there are now five microfinance institutions interested in participating in this market, surely more will join over time.

“I have said that there should be no restrictions for that. Any financial entity supervised by the Superintendence of Banking and Insurance must be able to administer pensions,” he said.