Important proposal to modernize the Peruvian Pension System

The Economy Committee of the Congress has presented a comprehensive proposal to modernize the Peruvian Pension System, led by the president of said committee, César Revilla. Among the most relevant aspects of this proposal is the granting of a minimum pension funded by the State, with the aim of ensuring a dignified standard of living for the retirees of the country and promoting their security and well-being during retirement. This measure, which seeks to provide greater protection to citizens in their old age, is part of a series of reforms that aim to address the deficiencies of the current system and adapt it to the needs of a society in constant change. The proposal includes the implementation of a system that includes non-contributory, semi-contributory, contributory, and voluntary modalities, in order to cover the diverse labor situations of Peruvians and ensure broader and more equitable coverage. One of the pillars of this reform is the introduction of notional accounts in the public system, which ensures that each retiree receives a pension in accordance with their contributions throughout their working life. Likewise, the creation of a consumption pension is proposed, with the objective of incorporating informal workers into the pension system and ensuring that they too can access a dignified retirement. Additionally, as a complementary provision, the proposal includes the possibility for citizens to make withdrawals of up to 4 UITs from their pension funds, a measure considered necessary to mitigate the effects of the current economic recession facing the country. However, it is important to note that this measure must be carefully evaluated, considering its long-term impact on the sustainability of the pension system. In this sense, the proposal for the modernization of the Peruvian Pension System is presented as a fundamental step towards a fairer, more efficient, and sustainable system, which guarantees adequate protection for citizens in their retirement stage. The discussion and detailed analysis of this proposal will be crucial to ensure that the implemented reforms are effective and benefit the entire Peruvian population.