Original article: Bancada PC e Independientes acude a Superintendencia de Pensiones por millonarias pérdidas de las AFP

PC and Independents Bloc Requests Pension Superintendent’s Report on Huge AFP Losses

The Parliamentary Committee of the Communist Party and Independents, represented by Congresswomen Daniela Serrano, Ana María Gazmuri, and Congressman Marcos Barraza, has formally requested a comprehensive report from the Superintendent of Pensions, Joaquín Cortéz Huerta, detailing the approximately $7.7 billion in negative valuations recorded by Pension Funds.

The letter emphasizes that these figures are «especially concerning given the magnitude of the amounts involved and the fact that they pertain to investments made with Pension Fund resources intended for financing the pensions of workers.»

Consequently, the legislators demand the Superintendent of Pensions to «first confirm the accuracy and extent of the approximate $7.7 billion figure, clarifying the trajectory of fund values; the impact these operations have had on the Pension Funds and on the retirement savings of contributing individuals, indicating their effects on profitability and share value, and providing detailed information by AFP and type of fund.»

Secondly, they requested «information on the oversight actions conducted by the Superintendent regarding these operations, indicating from when this situation became known, as well as any corrective measures or sanctions adopted.»

Additionally, they requested details on the «mitigation measures taken or that will be undertaken to protect the pension resources of contributors and prevent similar occurrences from affecting their savings.»

«Managing the savings of workers requires accountability. The authorities must explain how they have exercised their oversight and what actions will be taken to safeguard pensions,» stressed the PC and Independents Committee.

We will continue to provide updates.