The constitutional Court (TC) modified on Thursday, October 6, its dissemination material on the sentence issued, which declared constitutional the withdrawal of up to 4 UIT from the funds AFP.
The initial ruling of the plenary session of the TC concludes that the Private Pension System is not part of social security, but the new press material issued says otherwise.
On October 4, the Institutional Image Office of the Constitutional Court shared a statement in which the TC understands that the legal nature of the Private Pension System (SPP) does not correspond to social security.
“The TC understands that the legal nature of the Private Pension System (SPP) does not correspond to social security. Consequently, the measure provided for in article 1 of the contested law does not affect the constitutional content of the intangibility of social security funds.”, read the shared resolution.
However, the web portal of the TC then records a version different from the original. In this it is read that the constitutional body, by majority, does consider the Private Pension System as part of social security.
Constitutional Court ruling
As is known, the Constitutional Court rejected the unconstitutionality claim filed by the South Lima Bar Association against the law that empowered members of the Private Pension Fund Administration System (AFP) to withdraw their pension funds from the last years due to the pandemic crisis.
The ruling that declared the lawsuit unfounded indicates that the exceptional situation, such as what happened during the COVID-19 pandemic, justifies the authorities taking such measures, to alleviate the economic situation of people and companies.
