In 10 years, the Pension System (SP) could have 5.5 million new affiliates if seed capital is created that allows the State to establish a fund for each newborn Peruvian and progressively replace the subsidy provided by Pension 65, explained the president of the Association of AFP (AAFP), Giovanna Prialé.
“In the span of 10 years, instead of having the same 550,000 people receiving Pension 65, let’s reach 5.5 million Peruvians with the objective of having a guaranteed minimum pension for the entire population,” he said.
The AAFP has also submitted other proposals as part of the reform. One of them is that there is a minimum pension for everyone under the condition of having at least 20 years of contribution.
Likewise, they propose that the affiliate receive in his Individual Capitalization Account (CIC), throughout his working life, 1% of the General Sales Tax (IGV) paid, thus increasing the fund and profitability.
The union also considered that it is necessary to increase the number of fund managers so that people who are part of the system have the option of choosing where they want to be.
As an example, Prialé indicated that a person whose income is S/1,025, and who contributes for 20 years (with two years of equalized contribution) today can receive a pension of S/901, but pointed out that with the reform the amount can rise to S/1,206.
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On the other hand, the president of the AAFP also referred to the proposals that are in Congress that propose a seventh withdrawal of funds and pointed out that this will generate not only that more people have a zero account, but also that they will be left without access or health coverage.
In the same way, he specified that a person who contributes regularly throughout his working life can receive a pension of S/2,824, while one who does so irregularly would receive around S/927.
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The representatives of Integra, Prima and Profuturo stated that it is necessary to start with the pension reform, taking advantage of the fact that the State’s fiscal spending on pensions is still low.
They pointed out that it is necessary to maintain the individual account and not the distribution account.
Giovanna Prialé pointed out that the Executive commission that prepares a reform proposal would have the first draft in May.
