After the approval of the eighth Retirement of AFP fundsthe BVL group expressed concern about this decision of the Congress that was backed by the Executive with the promulgation of the norm.
“The measure that allows early and massive retreats from these pension funds seriously affects social protection built for decades. In addition, it negatively impacts the local capital market, since pension funds are fundamental actors in investment in financial assets, bonds and infrastructure projects,” he said.
In that sense, he indicated that, in a global context marked by economic and social uncertainty, pension systems constitute fundamental pillars for social protection and indicated that they are essential for the country.
He also assured that the norm that approves the withdrawal, and that it is pending the regulation of the Superintendence of Banking, Insurance and AFP (SBS), will have an “adverse effect both on the stability of the pension system and in the economic dynamics of the country.”
“It is essential to boost deep reforms that ensure financial sustainability and equity of the pension system, adapting it to current demographic and labor challenges,” said the BVL group.
Similarly, he pointed out that the stable pension system is a key pillar to promote long -term investment and, thereby, boost sustainable and beneficial economic growth for all sectors.
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