The second debate of Bill 163, which reforms the Social Security Fund and the Disability, Old Age, and Death program, concluded with the approval of the modifications by the majority of votes. Among the changes proposed by the president of the National Assembly, Dana Castañedas, it was decided to maintain the Retirement Age at 57 years for women and 62 years for men. Furthermore, it was established that 90% of the investment funds will continue to be managed by state banks, leaving the rest for the private option.
The legislative process of this project included long negotiations during the past week to coordinate with the Executive, after four months since the project arrived at the legislative chamber. During the voting, which lasted approximately two and a half hours, various proposed modifications presented by the deputies and the parliamentary groups were discussed and approved.
One of the important articles that remained unchanged is number 137, which maintains the established Retirement Age for men and women. Bill 163 consists of about 47 new articles, including article 20 related to the tripartite Commission, which according to deputy Alain Cedeño, must be carefully analyzed in future legislative instances.
In summary, the approval in the second debate of Bill 163 implies the preservation of the Retirement Age and the allocation of funds to state banks, aspects that have generated debate and discussion in the National Assembly.
