The Ministry of Economy and Finance (MEF) announced today that in less than 15 days to send Congress a bill on the reform of the private Pension (SPP), which seek to generate greater competition in the marketplace for affiliates.
The owner of the MEF, Ismael Benavides, said to be a commitment from the executive branch to send a draft amendment of the SPP in this period and included all the issues discussed today in Committee on Economics, Banking, Finance and Financial Intelligence Congress.
in the committee, lawmakers raised expanding the SPP so that other institutions such as banks and other entities, to manage funds Pensionaries, achieving greater competition generated by charging lower fees.
They proposed that the Peruvian government to freely contract their contributions to foreign pension institutions, which also favors lowering the commissions of the pension fund administrators (AFP).
"I agree with everything said here, from the commissions, to the enrollment and disenrollment, as well as with the opening of market and more players in the system, so that there are more options for pensioners to choose freely, "said the minister.
thus considered that could achieve stability and security of pensioners and not the fund management companies Pensionaries.
said that the MEF, with the Superintendencia de Banca, Seguros y AFP (SBS) produce this new bill will amend the Law of the SPP.
said the bill would include some recommendations made by a World Bank mission, which reviews the financial system in Peru every five years.
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