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Proposal to regulate commission ceiling for AFPs stalled in Senate

Legislators seek meeting with Executive Power to agree on proposal

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Proposal to regulate commission ceiling for AFPs stalled in Senate
SD. The chairman of the Permanent Commission on Social Security, Labor and Pensions of the Senate, José Maria Sosa, recognized that this commission has still not offered its report on the legislative proposal which would regulate the ceiling of the yearly complementary commission that the Pension Fund Administrators (AFP) received, because they are waiting to come to an agreement with the Executive Power regarding the issue, and avoid the existence of a disparity of criteria.

"We believe that there should be a reconciliation between the Executive Power and the Congress in order to produce a polished legislative proposal because, what good do we do modifying it here and when it goes to the Executive Power they send us another law and we have to approve it?... And for this reason it is stalled or however you want to call it," he admitted.

Senator Sosa revealed that 2 months ago the commissioners met with the Minister of the Presidency, Gustavo Montalvo, and they agreed to search for a consensus with the AFPs. But he reported that then the Senate decided to wait for the commission that was created by the Executive Power to review Law 87 - 01 and include this issue in order not to work "piecemeal." He believes that the ideal situation is for the Congress to cover the issues that are related into a single law. "We are studying the issues and we have not found a solution..." "What we want is that what happened with Loma Miranda does not happen in this case," he admitted.

He said that Montalvo showed interest in taking into account this Senate commission and expects that he will invite them to a meeting.

Reactions

The spokesman for the PRM deputies, Nelson Arroyo, said that it is absurd that the AFPs earn nearly three times more than their affiliates. For him this should become an issue in the country.

The PLD deputy Lupe Nuñez admitted that there are issues that when they involve interests are difficult to approve. He believes that it is an injustice which has to be solved, and that the AFPs should avoid being affected by the social pressure.

The PRM deputy José Morell said that the earnings of the AFPs are "aberrant."