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SBS: “The seventh withdrawal from the pension fund is a harmful measure”

The approval of the seventh withdrawal from the pension fund is a detrimental measure for SPP affiliates. | Fountain: Andean

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Oversight Banking, insurance and AFP considered a “harmful measure” in relation to the intent of Congress to seek seventh withdrawal from pension funds in the private system.

This intention is realized by Parliament through two legislative projectswhich offer early withdrawal from the pension fund up to 3 UIT (S/14,850) and 4 UIT (S/19,800) respectively.

Any measure could result in an outflow of funds worth 22 to 25 billion soles, since about 6 million members private system They would rather leave.

Beneficiaries are not vulnerable

Of the six measures already approved, half were given to people who were not in situations of vulnerability or unemployment, according to SBS, and this seventh initiative is on the same path, so “No technical support.”

In addition, the SBS warned that those with large savings will benefit the most, as few have more than 1 UTII in their funds.

Approximately 4.6 million affiliates (79% of total affiliates that can make extraordinary payments) will only be able to access one UIT of their individual capitalization account (CIC); and at the same time, 63% of the funds will be withdrawn by affiliates with large savings.

Impact on the pension fund

In accordance with SBS, with retirement, pension savings will significantly decrease, and with them future pensions. In addition, this measure will also have an impact on the economy and the future of the country.

“This will worsen the country risk rating and will not be in line with the best practices recommended by the Organization for Economic Co-operation and Development (OECD), which may affect the country’s accession to this international organization.

Source: RPP

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