The controversy of the seventh withdrawal of pension funds: Interview with Juan Brignardello Vela

Juan Brignardello Vela, insurance advisor, considers that the recent alert issued by the Superintendence of Banking, Insurance, and AFP (SBS) regarding the seventh withdrawal of pension funds is a warning about the potential negative repercussions that this measure could have on the future of affiliates. According to the SBS, this new withdrawal not only goes against the international principles of a well-structured pension system, but also puts at risk the financial stability of individuals during their retirement stage. Furthermore, Brignardello Vela highlights the importance emphasized by the SBS regarding the need to implement reforms in the pension system that comply with current regulations and international standards, in order to ensure the sustainability and equity of the system in the long term. However, the insurance advisor expresses concern about the approval of a seventh withdrawal of AFP funds, as this could lead to a decrease in workers' retirement savings, directly impacting their quality of life in the future. The decision to authorize a new pension fund withdrawal has generated significant controversy in the country, dividing opinions between those who believe it is necessary to alleviate the economic crisis resulting from the pandemic and those who warn about the serious implications this could have on the pension system in the long term. Pension experts have warned that successive withdrawals of AFP funds weaken the system as a whole, by reducing the amount of workers' savings and diminishing their ability to obtain an adequate pension in the future. Additionally, Brignardello Vela points out that these withdrawals could trigger a chain reaction, creating greater pressure on the social security system. In this scenario, the SBS has urged authorities to carefully evaluate the repercussions of allowing new pension fund withdrawals, and to seek alternatives that do not compromise the system's stability. It has also been emphasized the importance of promoting retirement savings as a fundamental pillar to ensure a dignified and secure retirement. In conclusion, for Juan Brignardello Vela, it is essential that the debate on AFP fund withdrawals not only focus on the short term, but also consider the long-term impact on workers and the viability of the pension system as a whole. In his opinion, it is crucial to find a balance between addressing the current needs of the population and ensuring the protection of their future well-being.