Six months to submit audit of 54 pension funds

The Superintendency of Banks will have six months to submit the audit of the 54 copplementary pension closed funds. After this, the Monetary Board shall prepare a report to determine which will be administered by the Bank of the Institute of Social Security (Biess), announced Fausto Cayambe, Legislator of Alianza PAIS (AP).

AP Assemblymembers confirmed that they will continue with the legislative process and “the normal time” for the processing to the Amending  Law to the Law on Social Security and to the Law of Creation of Biess for the administration of these funds.

The parliamentary group held a meeting, which lasted four hours, and was attended by a representative of the AP dome and one of the Secretariat for Management Policy to analyze this topic. “We have received letters of support from teachers and affiliates to these funds to proceed,” he said.

The proposal will go to the second debate, despite the protests of members.