translated from Spanish: «Not the form»: AFP association criticizes proposal of new administrator to raise funds to deal with the coronavirus crisis

The proposal made by the novel AFP Uno, who said that up to 5% of resources could be withdrawn with the aim of dealing with the coronavirus crisis, has generated various criticism from the other AFPs.
The general manager of pension fund manager Fernando Larraín said that «we believe that the proposal to withdraw funds is at odds with the urgent need to increase pensions.»
«The withdrawal of partial funds, as experts, justice and legislators have pointed out, is not the right way to deal with the crisis we experience today from coronavirus or any other,» Larraín added.
He added that «we believe that it is not appropriate for the planned savings of workers to cover the consequences of this crisis.»
Criticism also came from the Confederation of Production and Trade (CPC), where its President Juan Sutil noted that «I do not share that view, because planned savings are a precious commodity precisely for when it is our turn to retire. If you subtract that today, retirements are already scrawny or girls, or they’re not enough what they should be for you to subtract from him today.»
«That can simply mean a much greater future deterioration. That doesn’t mean we can’t argue in extreme situations, such as a terminally ill person of a one-off illness, which may be cancer or another, and that he decides to rescue his resources, having it in advance of his death,» Sutil added.
Finally, he noted that «that kind of thing I think are part of the process of protecting these retirement resources, but I don’t seem to subtract them today, as I wouldn’t seem to have subtracted your retirement funds to make an investment in a house or some another thing because there is precisely a right of ownership that, in my view, is above the freedom of those resources.»

Original source in Spanish

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