After a tense debate, the Economic Commission of the Congress of the Republic approved this afternoon the opinion that proposes reforming the pension system. The proposal, which accumulates 59 bills, obtained 14 votes in favor, 6 against and one abstention.
Among the legislators who make up this Commission, led by César Revilla, were Rosangella Barbarán, Sigrid Bazán, Isabel Cortez, José Luna, Carlos Anderson, among others. It should be noted that the Fujimori party is the one that has been promoting this project.
Debate of the Economy Commission within the National Parliament. Photo: Congress
What is the Law to modernize the Peruvian Pension System about?
The reform aims to financially secure Peruvians during their old age. In addition, the integrated system will include both the National Pension System, managed by the ONP, such as the Private Pension System, run by the fund management entities. It will be based on four pillars: non-contributory, semi-contributory, contributory and voluntary.
In addition, the inclusion of notional accounts in the pay-as-you-go system is contemplated to guarantee that each retiree receives a pension proportional to their contributions.
What have congressmen said about the pension reform ruling?
The parliamentarian, Sigrid Bazán, indicated that this proposal is a parallel model between the national system and the private system. “It is not a multi-pillar model, it is not a total reform of the pension system, it is again a model that presents us with this duality between the national system or the private system. I think people know very well how that model works and what the complaints against both spaces: private administration and public administration,” said Bazán Navarro.
For her part, Rosangella Barbarán explained that they are leaving the country with a guarantee that they will be able to have pensions in the future. “This Congress is leaving you the guarantee of having funds in the future.” On the other hand, parliamentarian Isabel Cortez specified that these projects must be carefully reviewed because they must benefit everyone equally. “Once again we are returning to the fact that a few are benefited, because the vast majority do not buy a car, clothes, ordinary citizens do not buy 5 or 10 kilos of sugar, many earn the minimum wage, therefore their expenses will be minimal. I think this needs to be reviewed carefully and we need to see how the beneficiaries are equally,” Cortez said.
Consumption pension
One of the projects that integrates the pension reform is called “consumption pension”. This proposes that of all purchases made by electronic ticket, it may be allocated 1% of the total spent on taxes and then directed to the pension system. This contribution would be limited to an annual maximum of S/61,800, equivalent to 12 UIT.
The project establishes the need for all taxpayers to have an Individual Capitalization Account (CIC) in the AFPs to be able to save in this new scheme. Likewise, other provisions approved this afternoon establish that the money of an AFP member who does not register heirs must be transferred to the State account.
Source: Larepublica
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