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The Senate Labor Commission He resumed the discussion of the pension reform, with emphasis on the division of the industry proposed by the opposition.
Having passed the legislative stage of the projects that regulate the withdrawal of pension savings, all sectors agree that the greatest urgency is to advance in the pension reform, which has been in Congress for two years and was discussed again in the Senate today.
The intention of the Labor Commission is to continue with the process of the project approved by the Chamber, the same that the opposition intends to reject for a different proposal.
In this Monday’s debate, the changes to the AFP industry proposed by the opposition bloc were particularly analyzed, where the leading role is taken by a new public entity called Solidarity Collective Savings Council.
This body would have the function of managing pensions, collecting contributions, keeping track of accounts, registering new members and taking care of direct attention to the public.
The AFP figure is eliminated and replaced by fund managers, dedicated only to investing the funds through blind bidding.
Among the speakers, the consultant and doctor in Economics from the University of Pennsylvania, Patricio arrau, considered that the proposal is interesting as a starting point regarding greater state participation, but it is too abrupt in terms of eliminating the benefits of the private system.
“What the proposal does is to monopolize and nationalize the function in a public entity (…) it would be equivalent to suddenly saying that we do not want more deposits in private accounts and that only the banks dedicate themselves to placing,” warned the expert.
In contrast, the socialist senator, Juan Pablo Letelier, affirmed that the vision of the economist and also of the ruling party responds to an ideological defense of the model, leaving aside the political factor where the AFPs no longer have the legitimacy to maintain their current role.
“There is going to be a tremendous transformation to the pension system in Chile, that is going to happen (…) here there is no proposal to expropriate anything, there are multiple ways to do it gradually, it is bad to use a language that all it does is polarize the debate, ”he stressed.
As confirmed by Senator Letelier himself, who chairs the commission, it is expected to begin meeting two or three times a week to carry out the reform and have a resolution in January, waiting for the next session to address the issue of gradualism.
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