THE WORLD ECONOMIC

EL MUNDO ECONOMICO

AFP: affiliates began withdrawing

their funds
AFP:AFILIADOS INICIARON RETIROS DE SUS FONDOS
El impacto de la ley que
The impact of the law
permite que los afiliados de
that allows members
65 aos a las AFP puedan
to 65 years to AFP may
retirar hasta el 95.5% de
withdraw up to 95.5%
sus aportes depender de
of their contributions
las decisiones que
efectivamente tomen los
depend on the
afiliados y/o jubilados, sin
decisions actually
embargo, difcilmente esta
taken affiliates and / or
medida puede considerarse
retired, however,
como reactivadora de la
hardly this measure
economa, advirti hoy
Marcel Ramrez, docente de
can be considered as
la Escuela de Posgrado de
reactivating of the
la Universidad de Lima.

economy, warned
Marcel Ramirez, a

Indic que existen dos

factores en los que basa
su teora y el primero es
el grado efectivo de
retiro de esos fondos, es
decir el monto
efectivamente retirado.
A esto se suma un
segundo factor que es
saber cul ser el
destino de dichos
fondos, ya que diferente
es que se empleen para
pagar deudas a que se
utilice para invertir en
algn emprendimiento.

He said there are two

factors on which it bases
its theory and the first is
the actual degree of
withdrawal of these
funds, in the amount
actually withdrawn.
Add to that a second
factor is knowing what
the fate of these funds
adds, because different
is that are used to pay
debts to be used to
invest in any venture.

If you invest in any

venture, equally depend
on the natural
uncertainty of business,
considering that each
person will (in) different
capacities for business.
Nothing actually removes
the State of its role to
resolve obstacles to
effective and sustainable
economic recovery, "he
said

Si se invierten en algn
emprendimiento, de igual
forma depender de la natural
incertidumbre de los negocios,
considerando que cada
persona tendr
(in)capacidades diferentes
para los negocios. En realidad
nada quita al Estado su rol de
resolver los obstculos para
lograr una efectiva y
sostenible reactivacin de la

indic que todo cambio

normativo en el Sistema
Privado de Pensiones (SPP)
debera traducir su xito en
que los jubilados puedan
acceder a mejores pensiones
durante el mayor tiempo
posible.
Se esperara que las
entidades financieras y de
seguros en general puedan
ofrecer no slo informacin
clara de opciones de
inversiones sino tambin
nuevos instrumentos de
inversin que permitan a los
jubilados lograr una mejor
pensin; la mayor competencia
promovera mayor eficiencia
en el mercado al ofrecerse
mejores opciones para
rentabilizar dichos fondos y
generar rentas vitalicias,

"It is expected that

financial and general
insurance bodies provide
clear information not only
investment options but
also new investment
instruments that allow
retirees to better
pension; increased
competition would
promote greater
efficiency in the market
by offering better options
to recoup those funds

Sin embargo, consider

innegable que existe el riesgo
que los fondos sean
malgastados afectando
seriamente el futuro de los
jubilados, esta situacin deber
ser debidamente monitoreada
por las autoridades.
El especialista mencion que en
este caso la experiencia de
pases vecinos como Chile y
Colombia podra sernos til.
En el caso de Chile y
Colombia, por ejemplo, cuentan
con un esquema no
contributivo (pilar solidario en
Chile) que lo que busca es
asegurar en cierta medida una
proteccin social a toda la
poblacin, especialmente a
quienes no han podido cotizar a
un rgimen de pensiones o este
ha sido insuficiente, buscando
prevenir o aliviar la pobreza.
Este se financia con recursos
del Tesoro Pblico, afirm.

However, it was "undeniable" that there is a

risk that funds are wasted seriously
affecting the future of retirees, this situation
must be properly monitored by the
authorities.
The specialist said that in this case the
experience of neighboring countries such
as Chile and Colombia could be useful.
"In the case of Chile and Colombia, for
example, they have a non-contributory
scheme (" solidarity pillar "in Chile) who are
looking to ensure a certain extent social
protection to all people, especially those
who have been unable to quote to a
pension scheme or this has been
insufficient, seeking to prevent or alleviate
poverty. This is financed with Treasury
resources, "he said.

Otro aspecto a considerar,

continu Ramrez, es el
impulso que existe en Chile al
aporte voluntario
representando un 9% de
aportantes al sistema,
especialmente debido a
incentivos tributarios.

Another aspect to be considered,

Ramirez continued, is the momentum
that exists in Chile to the voluntary
contribution representing 9% of
contributors to the system, especially
due to tax incentives.

En ambos pases el
empleador y el Estado
participan en los aportes de los
afiliados al SPP, situacin que
no sucede en el Per,
enfatiz.

"In both countries the employer and

the State involved in the
contributions of the members of the
SPP, which is not the case in Peru," he
said.

Adems seal que la mayor

debilidad de un rgimen de
pensiones como el diseado en
el Per es el elevado nivel de
informalidad laboral que se
tiene, a esto se agrega que el
bono demogrfico ir
terminando y la poblacin
seguir un patrn de
envejecimiento mayor

He noted that the greatest weakness

of a pension scheme as designed in
Peru is the high level of informality
that has, to this is added that the
demographic dividend will be ending
and the population will continue a
pattern of aging greatest generating
pressure on State services

A pension reform should aim

to make viable coverage basic
social protection for the whole
population and not create
disincentives to labor
formalization, promoting
voluntary contributions,
focusing incentives on most
vulnerable segments such as
workers in micro and small
enterprises and those
involved intermittently in
formal employment. There
are market failures that
require the use of more
targeted policy instruments
distinguishing the different
characteristics and conditions
of employment in our
economy, "he concluded.

Una reforma pensionaria debe

orientarse a viabilizar una
cobertura de proteccin social
bsica para toda la poblacin
y no generar desincentivos a
la formalizacin laboral,
promoviendo los aportes
voluntarios, focalizando
incentivos en segmentos ms
vulnerables como los
trabajadores de micro y
pequeas empresas y quienes
participan intermitentemente
en el empleo formal. Existen
fallas de mercado que
requieren el empleo de
instrumentos de poltica ms
focalizados distinguiendo las
diferentes caractersticas y
condiciones del empleo en
nuestra economa, finaliz.

Palabras de carrera : contabilidad

inversin
economa
seguros
entidades financieras
deudas
emprendimiento
mercado
negocios
sistema privado de
pensiones
jubilados
tributario
recurso
pobreza
rgimen
poblacin
micro y pequeas
empresas

Career words: accounting

investment
economy
insurance
financial entities
debts
venture
market
business
private pension system
retirees
tax
resource
poverty
regime
population
micro and small
enterprises