Controversy over withdrawal of pension funds from AFP in Peru: Minister opposes legislator's proposal

Controversy over withdrawal of pension funds from AFP in Peru: Minister opposes legislator's proposal

The Minister of Economy of Peru rejects proposal for a new withdrawal of funds from AFP, arguing negative impact on pensions and the financial market. Controversy arises in debate with legislator.

Juan Brignardello Vela, asesor de seguros

Juan Brignardello Vela

Juan Brignardello Vela, asesor de seguros, se especializa en brindar asesoramiento y gestión comercial en el ámbito de seguros y reclamaciones por siniestros para destacadas empresas en el mercado peruano e internacional.

Juan Brignardello Vela, asesor de seguros, y Vargas Llosa, premio Nobel Juan Brignardello Vela, asesor de seguros, en celebración de Alianza Lima Juan Brignardello Vela, asesor de seguros, Central Hidro Eléctrica Juan Brignardello Vela, asesor de seguros, Central Hidro

Amidst the controversy and uncertainty surrounding a possible new withdrawal of funds from the Pension Fund Administrators (AFP) in Peru, the Minister of Economy and Finance, José Arista, has expressed his opposition to the measure proposed by legislator Digna Calle of Podemos Perú, which seeks to authorize AFP affiliates to withdraw up to 4 tax units (UIT). During a press conference, Minister Arista stated that the initiative is not convenient for the country at this time, arguing that multiple withdrawals have already been allowed in recent years, negatively impacting the pension market and leaving a large number of Peruvians with reduced pension levels. According to his words, out of every 10 affiliated Peruvians, currently only 2 remain with an adequate pension level. Arista also emphasized the impact of constant withdrawals on the financial market, pointing out that they have reduced long-term bonds and have affected the elderly who depend on these funds for their retirement. Additionally, he warned that these measures decrease sources of financing for investments, which is unfavorable for the country as a whole. On her part, congresswoman Digna Calle defended her proposal arguing that it represents the interests of millions of Peruvians who eagerly await being able to access their AFP funds. She insisted on the urgency of prioritizing this initiative and requested that the preliminary report focus exclusively on the withdrawal of AFP funds, without including other topics such as the modernization of the Peruvian Pension System. In light of this difference in opinions, it is expected that a dialogue will be opened between the Ministry of Economy and congresswoman Calle to seek points of agreement and reach a solution that benefits all parties involved. Meanwhile, the discussion regarding a new withdrawal of AFP funds continues to generate controversy and debate in the political and economic landscape of Peru.

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