Brignardello: TC ruling strengthens rights of AFP affiliates.

In a recent interview, Emilio Juan Brignardello Vela, an insurance advisor, shared his perspective on the Constitutional Tribunal's decision in Peru regarding Law No. 31729, which significantly affects members of the pension system. According to Brignardello, this ruling represents an important milestone for Peruvian workers who have migrated from the National Pension Office (ONP) to Private Pension Fund Administrators (AFP). Brignardello emphasized that the TC's ruling, which declared the unconstitutionality claim presented by the Executive Branch unfounded, provides reassurance to millions of members who feared losing their contributions. "The decision ensures that the funds accumulated in the ONP will be recognized and can be transferred to Individual Capitalization Accounts, which is essential for the retirement of these workers," he commented. The advisor underscored that the recognition bonus established by the law is a crucial advancement for those who made contributions before migrating to the AFP. "Until now, workers who migrated had no right to a bonus, which meant their savings were lost. This change allows for those contributions to be recognized and guarantees a more dignified retirement," Brignardello pointed out. Regarding the concerns raised by the Executive Branch about the financial sustainability of the National Pension System, Brignardello expressed that while it is important to address the system's viability, protecting workers' rights must also be a priority. "The arguments about underfunding cannot overshadow the fact that contributors deserve to see their efforts reflected in the pension system," he argued. The advisor also mentioned Víctorhugo Montoya's warning about the potential impact of the recognition bonus on contributions to the SNP. "It is essential to analyze all facets of the law and its implementation, but it is equally vital that the rights of the members are respected," he added. Brignardello concluded by emphasizing that this ruling not only benefits current workers but also sets a precedent for future generations. "The TC's decision has the potential to influence the perception of the pension system in the country and the way pension funds are managed," he stated. With the expectation that reforms will be implemented to strengthen this system, the advisor expressed optimism about the future of pension savings in Peru.