December 4, 2022

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Congress: They present a plan to establish a decent universal pension through blended financing

Guarantee universal and progressive access for all people A decent pensionThat’s the central approach of a bill introduced this week Congress.

The initiative, promoted by the Democratic Peru Caucus, also proposes expanding pension coverage to all informal workers.

In this context, it is proposed to create a pension savings fund, which will have mixed funds and resources equivalent to 2% of general sales tax and fourth and fifth class income tax respectively.

The plan was written by a Congresswoman Betsy ChavezThe aforesaid savings account is meant to be opened for every person from birth or when they attain 18 years of age.

Management of its profits will be the responsibility of an organization, public or private, as determined by the beneficiary. When he is a minor his parents make decisions for him.

Finance and Monitoring

The plan proposes to create a National Solidarity Pension Fund aimed at guaranteeing pensions to vulnerable groups and those facing difficulties for their livelihood.

Likewise, the plan envisages the creation of a national pension watchdog. The said body will be attached to the leadership of the Committee of Ministers (PCM) and will be responsible for supervising and regulating the administrators of pension funds.

The agency has two representatives from PCM, one representative from the Ministries of Economy, Development and Social Inclusion and Labour, respectively, a representative from the Central Reserve Bank, Banking Supervision, Insurance and AFP, and Labour.


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