Julio Velarde Warns Risks After Approval of the Eighth Retreat of Afp: "We Are Creating a Social Problem in the Future"

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The approval of an eighth withdrawal of AFP funds by Congress, with the support of the Executive, will deepen the contraction of the Private Pension System (SPP), with negative implications for affiliates, the administrators themselves, the stock market and investment in the country. Almost unanimously, with 110 votes in favour, none against and five abstentions, the Parliament gave the green light to a new release of the Provident Savings, with…

EXITOSA NOTICIAS - NOTICIAS DEL PERU Y EL MUNDO

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Julio Velarde, president of the BCR, warned that not having long-term savings could harm the foundations of the pension system.

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The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, once again referred to the withdrawal of funds from AFP, warning that these measures are "killing" the essence of a retirement system and generating a social problem in the future.The main concern expressed by Velarde is the panorama that is being set up for future generations of retirees. He warned that by exhausting their pension savings, many people will be forced to ext…