The Superintendent of Pensions explained that no subtraction was made and the accumulated amounts obey the conditions of the financial market.
The Superintendence of Pensions (Sipen) reported that yesterday he filed an appeal for review of the sentence of the Superior Administrative Court (TSA) ordering that body the restitution of values supposedly stolen from the members of the Pension Fund Administrators (AFP).
He affirmed that not a single peso has been subtracted from these funds, all the resources are guaranteed and that the entity is playing its role by supervising the AFPs.
The Superintendent of Pensions, Ramon Contreras Genaohighlighted that yesterday afternoon a team of Sipen lawyers submitted to the TSA this appeal for review of ruling 030-2022-SSEN -00327, which orders the return of the reduced funds from the account statements of the savers in February , March and April last.
He explained that no subtraction was made and the amounts accumulated and presented in the months mentioned in the respective individual capitalization accounts obey the conditions of the financial market.
We invite you to read: Construction material prices should reflect reality
Contreras explained that 22% of the pension fund portfolio is in dollars and in February 2022 the peso appreciated against the dollar
He indicated that profitability is above the system’s minimum and there is no longer such a reduction. He added that the interest rate has also risen and the market is paying better.
“Changes in interest rates and variations in the exchange rate impact the prices of financial instruments, affecting their value. On the other hand, it should be noted that these circumstances have not only affected the investments made by the AFPbut to those carried out by financial entities that manage third-party resources, so it is not an exclusive behavior of the pension system ”, specifies the Sipen document delivered to the TSA.
It stands out that the individual capitalization accounts of the acting parties have a positive balance greater than the contributions made during the months elapsed until the August 2022 cutoff, evidencing that the investments of the pension funds have generated favorable returns.
Similarly, they indicate that the accumulated balance of the Individual Capitalization (CCI) of the affiliates has continued to grow despite the fact that, in some cases, contributions have not been received on a constant basis to these accounts, but all the growth of these CCIs is attributed to the return generated by the investments made to favor of the pension fund.
They seek to cause unrest
The superintendent of pensions He said that he understands that this issue is only intended to bring unrest to the country. He stressed that the resources accumulated in the pension funds constitute the main national savings.
