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Congressional Commission approves opinion that enables voluntary contributions to AFPs

The Economy, Banking, Finance and Financial Intelligence Commission approved with 13 votes in favor and one abstention the opinion proposed by the Law that creates minimum pensions and that promotes the flexibility of the law so that members can make alternative voluntary contributions for social security purposes.

The commission led by the legislator Silvia María Monteza Facho, of the Popular Action political party, approved this opinion which is based on the fact that the regulations are applicable to contributors to the Private Pension System (SPP) so that they can establish pension goals based on the income they wish to have for their old age.

In addition, they are given the option to give voluntary contributions beyond the mandatory ones that by law are deducted from their salary payments. Similarly, this law empowers members to manage part of their pension funds, which does not put them at risk to ensure a minimum pension.

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This opinion, which was relayed to the Draft Law 255/2021-CR, 344/2021-CR and 469/2021-CR, was modified before voting. Bill 469/2021-CR was withdrawn and therefore decumulated from the opinion.

Likewise, congresswoman Rosángella Barbarán, from the Fuerza Popular political party, prior to the vote, decumulated from the opinion the draft Law 344/2021-CR that proposes the law that declares the creation of the complementary social security system of national interest because the opinion does not include the contributions of this Law.

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