April 23, 2023, 2:00 PM
April 23, 2023, 2:00 PM
A few days after the Public Manager fully manage the resources of 2.5 million workers and 840,000 retirement contributorsthe state entity indicated that there is five padlocks that guarantee an adequate management of that money.
Jaime Durán, manager of the Public Manager, During an interview on the state channel, he explained that these padlocks refer to the fact that the resources of the contributors are autonomous patrimonies that in no way are mixed with the resources of the Manager or the State, for which reason in “no way is there a forfeiture”.
The second lock is that all retirement resources are audited by the Pensions and Insurance Authority (APS).
A third aspect to take into account is that the money that the Manager will administer, annually is audited by an external company.
For the fourth control, Durán specified that the control of the social organizations is decisive and finally, the fifth lock has to do with what each insured have the chance to make a detailed monitoring of your pension contributions in an independent way.
Refering to information transfer of the contributors of the Pension Fund Administrator (AFP) to the Public Manager, Durán said that there is already a 95% progress.
“You already have all the history of contributors. From the accumulation of your money and how much is the yield. 95% of this information has already been transferred to the Manager’s servers,” Durán remarked.
Regarding the benefits of the Manager, Durán reiterated that the state entity is cheaper than AFPs, given that will not charge the four commissions that the private administrators did, something that in their opinion affected the value of the pensions.
“It is important to note that The 209,000 retirees will no longer pay the 1.31% commission on the total of their contributionss. For this concept, Bs 73 million was delivered annually. Now That money will go to retireesDuran said.
On the rejection of some sectors to the administration of the Public Manager, the authority said he was surprised that representatives of the workers defend the privatization of retirement resources.
