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Fonavi: Fiscal Council rejects project that guarantees return of contributions

The Tax Council reported this Friday that the approval of the bill that proposes clarifications to the Fonavi refund law contravenes the fiscal health of the country.

Through a statement, they argue that the project received the green light in Congress without considerations of fiscal responsibility and violating the constitutional articles that prevent the creation or increase of public spending by the Legislative Power and grant the competence to manage public finances. to the Executive.

In that sense, they recalled that many questionable aspects remain regarding the return of contributions from Law 31173 that were sued before the Constitutional Court in May 2021 by the Government of Francisco Sagasti.

“Although it was admitted for processing, to date it is still in the process of being evaluated by the TC,” they add.

The CF considers that The S/ 42,000 million demanded by the return of Fonavi is equivalent to 21% of the Non-Financial Expenditure of the General Government or 4.6% of the GDP forecast for 2022 in the current Multiannual Macroeconomic Framework.

“This provision, in addition to the considerable fiscal cost that it generates, is not compatible with the jurisprudence of the TC that instructed the Congress of the Republic so that, in collaboration with the Executive Power and the Ad Hoc Commission created by Law No. 296254, regulate the procedure return of contributions to Fonavi”, they note.

Likewise, the CF considers that by determining the obligation to return both the contributions deducted from their salaries and those made by their employers, the State and others, it would violate the jurisprudence of the TC that interpreted that the return of contributions from employers, the State and others, will be allocated to a collective and solidarity fund, in order to achieve the satisfaction of the basic housing need of the Fonavistas who require it.

This added to the Certificates of Recognition of Contributions and Rights of the Fonavista (CERAD), which are documents that certify the amount that must be returned to each contributor, and that with the new law will be recognized as public debt, with which they also acquired the characteristic of a negotiable security, which would become a new public debt without the guidelines of the National Public Indebtedness System.

Finally, the Fiscal Council urged state authorities to “act with fiscal responsibility”, especially in a context of high vulnerability of public finances and because a medium-term fiscal framework has not yet been established.

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