The resources that it manages to face the operating deficit would run out in less than two years, as reported to Deputies.
The Box of Professionals prepared a technical report, after having met with the Special Commission of the Chamber of Deputies on the occasion of the treatment of the bill that seeks the creation of a common provisional system, to answer the questions raised by the legislators. In it, it is detailed that the Bookings that are available to face the operating deficit they would run out in 2025.
The operating expense of the box is covered mainly from the operating income, with the sum of direct and indirect contributions. Therefore, the current operating deficit that afflicts the Fund, resulting from the difference between these two flows, is constantly covered with reserves.
During 2021, the Fund’s Board of Directors already requested a technical response from the institution’s technical teams on the occasion of this problem. In turn, in May 2022, the Executive power The Fund convened a working group made up of the Ministry of Economy and Finance (MEF), he Ministry of Laborand the Office of Planning and Budget (OPP), in order to study the measures for a bill.
In September 2022, the Board of Directors sent this working group a final projection and requested financial assistance from the Executive Branch. Seeking to generate a short-term impact, the increase in the rate of contributors to the 19% of the fictitious salary.
The changes proposed by the Caja de Profesionales
One of the main changes in the pension system proposed by the bill is the raising the minimum retirement age to 65, although, as at the national level with the reform of the government pension system, a transition stage is foreseen for people between the ages of 51 and 56 at the time the law is enacted. Those who are 57 years of age or older may retire with the regime still in force.
Likewise, it is possible that retirements will become less than the current ones. On the one hand, because they will be calculated based on an average of the last 18 years, and not of the last three as up to now; and, on the other, because the minimum replacement rate will go from fifty% to the Four. Five%with an intermediate level of 47% for the transition stage, a period that will also be present in what is the calculation of the basic retirement salary.
The contribution rate will also be increased 16.5% current to 19%; and it is proposed to create a pecuniary benefit in favor of the Fund, which will be in charge of the institution’s retirees and pensioners. The rates of this contribution would be calculated with a scale measured in bases of benefits and contributions, and would only be paid by those who are already retired and those who eventually retire under the current regime, and not with the new one.
Source: Ambito
