For Fernando Larraín, general manager of the AFPs, neither the project presented by the opposition on the second withdrawal of 10% nor that of the Government are good ideas, thinking about the future of pensions. In fact, he assured that both initiatives “are bad” and warned that both make workers “finance the costs of the pandemic with their savings.”
In an interview with El Mercurio, the head of the association of pension fund administrators, assured that this new instance to intervene the pension funds is less understandable than the first, since there are “hints of recovery and in general the country is advancing, although regions remain in quarantine. ” Larraín pointed out that there are many criticisms of the lack of government assistance, but “the question is whether the second withdrawal is to destroy the pension system or go to the aid of those who need it most.”
The manager of the AFP Association added that if either of the two projects is approved “inequality increases and more than four million will be left with savings equal to zero.” Of course, Fernando Larraín was emphatic in pointing out that, from the perspective of the union he directs, the thing is not only with the initiative led by Pamela Jiles (PH). And he assured that “the government project also damages pensions, does not solve the problem, and only limits it. “
“This was discussed in the first withdrawal and the president of the Central Bank (Mario Marcel) said it: there are more efficient mechanisms to alleviate the crisis than occupying pension savings. So, this government proposal, from our perspective, is late”, added the union leader, warning that, although it is difficult to anticipate, “there are parliamentarians who have even spoken of a third withdrawal.”
Fernando Larraín commented in passing that the ability to pay the money to its affiliates will be there because “there are resources” but, without a doubt, the date on which any of the motions is approved will influence.