Tuesday, May 30, 2023

Pension reform in Peru: the proposal of the Labor Commission that will be seen tomorrow

Again, the discussion about a . pension reform in Peru return to schedule The AFP They proposed that in February the Labor Commission of the Congress should discuss the Republic, on Friday, the 24th of March, approving the proclamation l.ey Framework for the Creation of a Single Integrated Pension System. The project is still pending announcement from the Ministry of Economy and Finance (MEF).

The text of the prediction, which is reviewed by the Commission, is prepared from more than 10 proposals and which has more than seven titles, “establish the provisions that configure the right to social security in pensions that help the person as a necessary means to guarantee; a full life in dignified conditions”.

Thus, the project began to be created Universal Integrated Pension System (SIUP)It is based on a multi-column system that will restore ONPlas AFP; Pension 65The Contiguity Program and the Social Pension System.

ALSO: The Congress proposes that the Member access 50% of his AFP for the purchase of a house

But,who manages the new system and employee input? The proposal mentions first – the governing body of the SIUP will be the Ministry of Labor and Employment Promotion, which is in charge of formulating and approving national social security policies, as well as promoting the rationalization and efficient operation of the system. and its articulation.

meanwhile he Independent National Pension Manager (Ganapen) whose board of directors was made up of a representative of MTPE, MEF BCRPa representative of the agent and the assured, and one of the employers – would procure universal non-contributory funds, the contributory column and the pension plans in the complementary column, for which the public manager or the national private manager will offer. or they would be called strangers.

Likewise, it is clear that although each one had health from . Personal Pension System (CPP), which will be associated with a National Identity Document (DNI) or another equivalent, each system will have two subaccounts that can be capitalized: a subaccount that is useful in the Shared Risk Fund (FRC). from the collation of the column; and a useful sub-system in the Individual Risk Fund (FRI), which comes from the complementary column.

ALSO: AFP: pension reform proposal includes informal and independent


Among the details of the text, the new system of the three columns stands out;

  • There is no universal transference; It protects adults over the age of 65, as well as people with disabilities over the age of 18 recognized by the State Medical Commission.
  • Contribution: Old age contingencies, unemployment, survivors and burial expenses that increase health insurance with contributions to a minimum of 15 full years or 180 months. The amount of pension granted is not less than 40% of remuneration or reference income, and not less than the Basic Individual Basket, will increase by 2.5 percentage points for the contribution of each year or 12 months. He allows early retirement.
  • Complementary column: it also protects the contingency of old age. Only financed with contributions related to health.
  • ALSO: Who should proceed from ONP to AFP with good recognition?

    What will happen to AFPs and ONP?

    The forecast also includes a transition period: In health Public Hotel System they would necessarily pass to the SIUP, if the law was approved by the plenary Congress, with the recognition of the contributions and the rights sought.

    Meanwhile, the members Private Pension Administratorsunder the 45-year career, to the entry into force of the law, if they are considered approved, to the SIUP health insurance. For those over 45 years of age who will be willing to join SIUP. In no case, the incorporation to the SIUP or the permanence in the Private Pension Administrator would imply the loss of individual assets over the accumulated pension funds, the text reads.


    – Economy Minister Álex Contreras announced in March that he would present a bill on pension reform.

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    Nation World News Desk
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