translated from Spanish: 10% withdrawal boric: “We know the problems associated with it but the solution can’t just be debts”

The project proposing the withdrawal of 10% of AFP’s funds has already been approved in the Chamber of Deputies and this week will have its discussion in the Senate. In the face of this, there are those who have expressed concern about the future of pensions and even fund managers. Deputy front-end member Gabriel Boric cleared doubts about concerns and said this “is not the end of AFPs.”
In an interview with El Mercurio, Deputy Boric said the central objective of the project is to reach the middle class and said that “AFPs are not going to end this project.”
“No one is talking about expropriating funds like some, irresponsibly, like Bernardo Fontaine, have tried to accuse,” he said.
Boric added that the goal of the project, supported by Social Convergence, in the medium term, is to change the root model, “but this project is not the one that will generate that change,” he said.
The parliamentarian emphasized the idea of changing the pension system, although he said it will not be changed “overnight.”
“No one is in love with this project as if it were the panacea. We know the problems it brings associated, but the solution cannot only be debts,” he added in reference to the Government’s project proposing, among other measures, a series of credits for the middle class.
“I have been very clear that the idea of withdrawal is necessary because of the urgency and ineptitude of the Government, but it is necessary to complement the Collective Fund because the principle of social security that we want to defend is not about wanting to scratch with its own nails, but rather there must be elements of solidarity. There is no contradiction in that,” concluded Mr Gabriel Boric.

Original source in Spanish