Why was the unified pension system rejected?

Legislative initiative that proposed the creation Unified Integrated Pension System (SEUP) It was rejected by the Labor Commission of the Congress of the Republic, but after reconsideration, it will be re-voted.

In your first vote project he had 11 downvotes and 8 upvotes, but what is he talking about and what would that mean?

This measure proposes a state-controlled pension system, which implies the closure of the Administrators of Private Pensions (AFP).

This SIUP is based on multicomponent system this will serve the ONP, AFP, Pensión 65, the Contigo program and the social pension system.

To this end, the Ministry of Labor and Employment Promotion (MTPE) will be responsible for developing and approving the national social security policy, as well as planning and facilitating the operation of the system.

Administration money It will be in charge of the National Autonomous Pension Manager, which will include a board of directors consisting of MTPE, the Ministry of Economy, representatives of the Central Reserve Bank, as well as representatives of the insured, pensioners and employers.

In this system, each insured will have “Personal retirement account”, which will be linked to a DNI or equivalent document. This account will have two sub-accounts that can be capitalized: a sub-account profitable in the General Risk Fund and a sub-account profitable in the Individual Risk Fund.

For ONP affiliates, if this measure is approved, they will necessarily move to SIUP with contribution recognition, and for AFP affiliates over 45 years of age, inclusion in the system will be voluntary.

It should be noted that along with the proposal Universal basic pension old age and the universal basic disability pension.

If the measure is approved, under this system, people who have reached the age of 65 will receive a basic pension, which will be no less than the value of the individual basic basket, provided that they prove at least 15 years of contributions.