ANALYSIS: What does AFP Habitat entering the Peruvian market?
This morning, the AFP Habitat won the first auction of affiliated private pension system (SPP) which organized the SBS. For the economist Eduardo Morón, this is good news because it accomplishes the goal of generating more competition in the Peruvian market.
"I would say that is good news because the main aim of the reform was to introduce more competition into the system and this is being achieved," he said in conversation with elcomercio.pe.
He said, however, that it is wrong to say that it has been reduced from 2% to about 0.25% of the current average fees charged by AFP, as the President said this evening Ollanta Humala, because the calculation of charging for joint commission is very complex.
As to whether or not current members coveniente that migrate to the winner AFP Habitat, Morón think if it is cheaper to collect posed Chilean manager, provided that other AFP (AFP Prima, AFP Horizonte, AFP Integra and Profuturo AFP) not change its committees.
However, he added that it is likely that current managers near commissions offer a rate of 1% to be more competitive and ruled out a mass migration of existing members.
Moreover, the economist felt that henceforth the remaining task of the Government is to inform people about the changes that are giving commissions to reform the AFP.