The Commission on Workers Rights of the National Assembly heard 13 of the 17 pension funds representatives that were summoned to give their observations on the draft law that seeks to transfer its administration to the Bank of the Ecuadorian Institute of Social Security (Biess).
While some disagreed with the purpose of the legislation, others said they are in favor due to the problems of the current administrations. A common criteria was to consult the unitholders of each fund about who wants to manage them.
About the Severance Fund of the Teacher´s Staff, Mariana Lozano, of the Rectors Association of Pichincha Public Schools, said that as partners they should receive reports of how these resources are being managed; she also said that they have never had access to loans, neither on housing loans and that is why they agree with the regulation.
Remigio Hurtado, of the National Confederation of Servers, said that of the 146,000 educational servers, 100,000 belong to the Teacher´s Staff Fund and 30% of those are active. And he asks that if consultation is made, it will be the responsibility of the Assembly or the Ministry of Education.
Some fund managers mentioned the word ‘confiscation’. The Acting President of the Commission, Ángel Rivero (AP), insisted that no one has talked about it, but Andrés Páez (CREO) said that this is about is it because they want to change the administration of private resources against the will of owners.