As if the eight Retreats from AFP funds They were not enough, the left in Congress now aims to destroy pension savings and that people can get 100% of the funds for pensions.
Through a project presented by Peru Libre, the repeal of the pension system reform is raised as well as its regulations and “the total return of the funds accumulated in individual capitalization accounts”.
“The return of funds will be carried out in a single disbursement to the bank account designated by the affiliate or pensioner. In case of not having a bank account, the SBS will coordinate with the Bank of the Nation the automatic and free opening of accounts for these purposes,” reads the initiative.
The proposal, which does not provide any alternative for pensions at the time of retirement, recognizes in its exposition of reasons that the eight accesses to the funds have reduced the participation of pension savings in the internal gross product (GDP).
In addition, he indicated that the fact that the system allows to withdraw 95.5% of its savings at the time of retirement -something that Congress reincorporated with the eighth retreat -, “far from consolidating a stable pension, leads to many prefer to remove the total, weakening the pension character.”
Access to ONP
On the other hand, Podemos Peru presented a bill that authorized the extraordinary withdrawal of up to four UIT of the funds contributed to the ONPalthough this system works with a distribution mechanism.
The proposal refers that such access is given with respect to the accumulated amount of contributions declared and registered in its name, despite the fact that in the public system there are no individual capitalization accounts.
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