Julio Velarde begins exhibition on a new retirement AFP
The president of the BCR, Julio Velarde, attends the eighth session of the Parliament’s Economy Commission to present the first point on the agenda: impact of a new AFP withdrawal.
He points out that successive withdrawals from AFP have meant that we are left with less liquid assets. “The BCR played a role so that treasury bonds did not collapse,” he indicates.
Which banks support a new AFP withdrawal?
There are more than 20 AFP withdrawal proposals and to date, the bench with the majority of AFP withdrawal proposals is Perú Libre (8 bills), followed by Podemos Perú (4), Perú Bicentenario (2), Acción Popular (2 ) Fuerza Popular (2), Somos Perú (1), Democratic Change-Together for Peru (1).
President of the BCR, Julio Velarde, will present the impact of a new AFP withdrawal
The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, will attend the Congressional Economic Commission today at 10:00 am to present the impact of an eventual seventh withdrawal of private pension funds.
The working group, chaired by Fuerza Popular legislator César Revilla, is preparing to issue a final report on the twenty legislative proposals that have the same spirit: that members withdraw their funds as economic relief in the face of the country’s situation.
Julio Velarde, president of the BCR, is against any AFP withdrawal. Photo: composition Infobae/AarónRamos/Andina
Which authorities have been against a new AFP withdrawal?
Over the course of a month, various actors involved in AFP retirement pension initiatives have spoken out to stop attempts that “would put retirement at risk.”
The head of the Ministry of Economy and Finance, Alex Contreras, the representative of the Superintendency of Banking and Insurance (SBS), María Heysen Zegarra, and the president of the AFP Association Giovanna Prialé have expressed their position against any withdrawal from individual accounts. of capitalization (CIC).
Minister of Economy, Alex Contreras, presents reasons for not approving the withdrawal of AFP. | TV Congress
The congressman, José Luna Gálvez, one of the champions of the project to withdraw 4 UITs equivalent to S/19,800, has expressed confidence that the Plenary Session of the Congress of the Republic could approve the seventh withdrawal of pension funds before Christmas. To this end, he has been holding meetings with various groups that could support this type of initiative with their votes.
“In two weeks the Economy Commission must issue its technical report, it is debated, the proposal is put forward, which can be a majority or a minority, it is decided and goes to the Plenary Session. It can go in the following week, then, in three weeks the withdrawal of the 4 UITs can be approved,” he declared to Exitosa.
What does Julio Velarde think about a new AFP retirement?
The head of the Central Reserve Bank, on more than one occasion, has shown an open position against any type of AFP withdrawal. “It has been completely negative, not only because of the macroeconomic impact that it would bring,” but because of the risk of leaving people without pensions in older adults.
“They are pension funds to be used in old age. Voluntarily, very few people are willing to save. Pension funds always have problems, perhaps the 10% contribution is very low, but it is absurd to think about using the money when you are 30 or 40 years old,” he told DF Sud.
President of the Central Reserve Bank, Julio Velarde, maintained that it is illogical that a member of 30 or 40 years old can withdraw his funds. Photo: Infobae/Congress composition
When would there be a ruling on a new AFP withdrawal?
Important date to have for affiliates. From the Economy, Banking, Finance and Financial Intelligence Commission of the Congress of the Republic, led by Fuerza Popular parliamentarian, César Revilla, they have indicated that the ruling on the AFP withdrawal will be ready by the end of this month.
In the last two weeks they have been waiting for confirmation from the president of the BCR, whose opinion will be relevant to prepare the opinion.
One of the promoters of a new withdrawal from the Pension Fund Administrators (AFP) is Congressman José Luna Gálvez, from the Podemos Peru bench. (Composition: Infobae Peru)
“It has been coordinated with the last speaker due to the fiscal considerations that the State has mentioned. That’s why we have listened to everyone. The president of the BCR has already confirmed his attendance for November 22 and after his opinion we will have all the inputs to prepare the opinion of that bill. (…) By the week of the 29th we should have an opinion,” Revilla indicated.