The law also establishes the questioned pension for consumption promoted by Fujimorism and prohibits those under 40 years of age from withdrawing all funds upon retirement.
With 38 votes in favor, 10 against and 16 abstentions, the Congress of the republic approved the questioned reform of the pension system in the second vote. This reform, according to its promoters, seeks to expand the coverage of the pension system and ensure financial sustainability, although it has been criticized for limiting the freedom of members to use their savings.
Among the controversial changes, the implementation of a minimum pension, the consumption pension and mandatory contributions for independent workers stand out.
Pension reform: what is the consumption pension about?
The consumption pension establishes that 1% of the VAT is allocated to all purchases made by the person and that are registered by electronic ticket to the pension system. The amount must not exceed S/700 and S/41,200 per year (8 UIT).
According to the defenders of the project, this modality will encourage pension savings for formal, informal, independent or unemployed people. However, various specialists agree that the measure will only benefit those who have the most, since the most vulnerable population buys in the informal sector.
Source: Larepublica
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