Bolivian state pension system starts at 100% amid controversy

The state system of bolivian pensions It began its operations at 100% this Monday after more than a decade since it was created, amid the controversy, mistrust and confusion of several people who still go to the previous private Pension Fund Administrators (AFPs).

This Monday dozens of people made long lines at the doors of the Long-Term Social Security Public Manager to consult the requirements to join, how to transfer from the private fund, extract extracts of your contributions, etc.

“I know that there is information on the website, but there are people like me who do not have the ability to enter that system and see that information.”, said a person who preferred not to give his name and who was lining up at the Manager to request the information on his statements, which were previously with AFP Futurebecause as many fear “lose your contributions”.

In line, people shared their doubts and some even commented on their annoyance and distrust of the new state pension administration.

“I do not (trust) at all, because of this Government what can you trust (…) they are going to take our money”, affirmed another of the users while queuing, who also requested the reservation of his name.

Manager asks for patience

The manager of the manager, jamie durantold the media this Monday that in these first days “it is foreseeable“let there be one”high influx of people” for the transition process, but assured that “it’s all under control” and invited users to have “patience” since there are “lots of information to process and review”.

“Give a message of peace of mind, tell them that all their contributions are safe, are guaranteed, and they will notice it as we conclude the transfer processDuran said.

He added that there are 39,137 new insured in the Public Managerof which 28,184 are dependents, 5,726 are independent and 5,227 are consultants of the 2.6 million people registered in the Bolivian pension system.

On the other hand, several people went to the places where the private AFPs operated until May 12. Future and BBVA Forecast to carry out their procedures, without knowing that from now on everything must be done through the Manager.

In 2010, during the government of Evo Morales (2006-2019), the Pension Law in which it was determined that the Public Manager will manage the Comprehensive Pension System Fundsbut only until 2015 were its statutes established and since then the start of operations has been postponed a couple of times.

Since it was announced that the manager was going to take charge of the pension funds from this month, sectors such as retirees, factory workers, among others, held several protests in rejection of the new state entity.

Source: EFE