AFP association criticizes government’s fifth limited withdrawal project: “It seems to us an improvised reaction”

After the presentation of an alternative project to the fifth withdrawal of the AFP, proposed by the Government of Gabriel Boric, this Tuesday; The general manager of the Association of Pension Fund Insurers, Contanza Bollmann, criticized the measure through a statement, indicating that it seems to them “an improvised reaction to the discussion of the fifth withdrawal.”
The proposal of the Executive of the limited withdrawal includes exclusive withdrawals with social security criteria, which will allow, withdrawals of pension funds for: payment of alimony, carry-over debts for basic services, savings for subsidies, as well as delinquency of mortgage credit.
Bollman referred to this, pointing to it as an “improvised reaction” in order not to approve the fifth withdrawal in the Constitution Commission of the Chamber of Deputies.
“Turning worker-owned pension savings into the ‘Servipag’ of overdue debts undermines the legitimate demand of millions of Chileans to have better pensions,” he said in the statement.
“The initiative presented to Congress today poses an operational complexity for pension fund administrators. This, due to the number of institutions involved and the amount of data needed to validate between them,” he said.
“If changes are not made to this initiative, it is impossible to implement it in a timely manner,” he added.
In that line, “pension fund administrators hope to be heard, because this directly concerns our effort to give adequate attention to our members and to improve pensions,” Bollmann concluded.

Original source in Spanish