Consecuencias del sexto retiro de fondos de pensiones en Perú
Published date | 01 June 2022 |
Law Firm | Rubio Leguía Normand |
Author | Andrés Kuan-Veng |
Recientemente, Pedro Castillo, presidente del Perú, firmó el decreto de ley que autoriza un nuevo retiro del fondo privado de pensiones, el sexto desde que se inició la pandemia. Este nuevo retiro de los fondos previsionales persigue los mismos fines: aliviar la situación económica a millones de peruanos con necesidades que cubrir en salud, alimentación, educación y obligaciones como deudas como consecuencia de la pandemia.
También busca protegerlos del alza de los precios. El Ministerio de Finanzas y el Banco Central de Reserva del Perú se oponían a este nuevo retiro no solo por su impacto negativo en el sistema previsional, sino por considerarlo inflacionario.
Cada beneficiario podrá retirar el equivalente a cuatro unidades tributarias impositivas, equivalentes a 5.000 dólares. Se calcula que por este concepto las Administradoras de Fondos de Pensiones (AFP) tendrán que erogar unos 8.500 millones de dólares (32.000 millones de soles). Desde el primer retiro y hasta el quinto se contabiliza una erogación superior a los 17.000 millones de dólares, más de 65.000 millones de soles. Esta nueva medida las obliga a seguir recomponiendo sus portafolios, ya afectados con los retiros anteriores, y a liquidar activos para responder a sus afiliados.
“No era necesario. Los retiros ya efectuados han afectado los portafolios de inversión de las AFP. La situación de muchos peruanos es complicada y se requiere generar políticas de gobierno que atiendan dichos problemas. Sin embargo, utilizar los recursos de los fondos de pensiones para atender dichos problemas de corto plazo desnaturaliza la finalidad y los objetivos para los que fueron creadas las AFP, que están vinculados a proveer una pensión de retiro a los afiliados, y con ello se genera un problema en el mediano y largo plazo”, advierte Eduardo Vega, socio de Payet, Rey, Cauvi, Pérez Abogados y especialista en derecho bancario y financiero y del mercado de valores.
Vega cree que —sin duda— la situación impactará a la Bolsa de Valores de Lima (BVL), afectando los precios, liquidez, tomando en cuenta que las AFP son participantes importantes en el mercado de capitales peruano. Teme que el impacto será como el que ha vivido el mercado de valores chileno, producto de una decisión similar a la tomada por el Gobierno peruano.
“La participación de las AFP es significativa y va ser difícil su reemplazo. A ello hay que sumar la importante...
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