In Congress they presented a new bill that proposes to repeal the reform of the pension systemwhich was approved last year, as well as its regulation that was published a few weeks ago.
The proposal of Podemos Peru raises the repeal “in order to restore the right of disposition of the pension funds of the contributors.” In addition, in its only article, all the legal, regulatory or norm that oppose the provisions of the initiative of said bench is without effect.
In this way, the possibility of increasing competition in the private pension system and that institutions such as banks, boxes and insurance companies participate.
The exposition of reasons indicates that the norm limits the right of citizens to freely dispose of their accumulated funds, although an eighth withdrawal and the return of 95.5%have already been approved.
Greater competition in the pension system
Last Wednesday, the Superintendence of Banking, Insurance and AFP (SBS) published the normative project that opens the possibility of entering new actors to the pension system, and thus competing with the AFP.
“A more competitive market means one with greater dynamism, adaptability and better conditions for users, always with a sustainability approach,” said Sergio Espinosa, head of the SBS.
The standard project is published in the Institutional Portal of the SBS (https://www.sbs.gob.pe/normativa-y-estandares/normativa/Prepublicacion-de-projects-normativas) and will be available until October 16, 2025 to collect the comments and suggestions of the general public.
Minimum pension
With the project that raises the repeal of the reform, the possibility that more people have the possibility of having a minimal pension for all affiliates, which would amount to S/600 is also closed.
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