The government advances in preparations to activate the Superintendence of Retirement and Pensions, one of the important social security projects. This Thursday, the second ordinary session of the Social Security Council was held, an organ that will be central to the new pension structure, according to the Ministry of Economy and Finance (MEF).
High authorities participated in the meeting, including the Minister of Economy, Carlos Fernández Valdovinos; the Minister of Labor, Mónica Recalde; and the president of the Central Bank of Paraguay, Carlos Carvallo. Representatives of the employer, Enrique Lovera and Luis Fleitas, and the working sector, Jorge López and Ramón Ávalos also attended.
One of the main issues addressed was the progress in the institutional conformation of the Superintendency, including its organizational structure and the actions planned for the second semester. According to the MEF, the Council is getting closer to being completely integrated, a fundamental requirement to officially designate the superintendent future.
“The priority is to launch the Superintendency. It is only necessary to incorporate the representative of the retirees to complete the Council,” said Minister Recalde. Once it is made up, it will be up to the Executive to appoint the holder of the regulatory entity.
The superintendent future must meet specific legal requirements: university degree in law, economy or accounting, experience in pension management and knowledge in risk management in pension systems.
Recalde also mentioned that the regulations that will govern the Superintendency is still pending regulations, and stressed that they are working in parallel in actuarial studies of various retirement boxes, such as the municipal, whose results will be soon published by the Social Security Institute (IPS).
This process is part of a broader reform of the pension system, promoted by the Santiago Peña government, with the aim of improving transparency, sustainability and efficiency in pension administration.
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