The Bolivian Government began the transition to its new state pension system with the announcement of the activities of the Public Manager, a nationalization process that had been announced twelve years ago and that began this Friday with registration of new contributors.

The President of Bolivia, Luis Arce, together with the Minister of Economy, Marcelo Montenegro, made official the partial start of the activities of the Public Manager in the administration of the Contributory and Semi-contributory Regimes of the Comprehensive Pension System, which will be the only body in the country for this sector.

Arce described this advance as “historic” in which Bolivians will no longer have to register with a private Pension Fund Administrator (AFP), but with the Public Administrator that is in charge of the Bolivian State.

“Today we are advancing in the direction that our pensions gradually, gradually, be administered by ourselves, the Bolivians, as it should always be,” Arce said.

The president indicated that from this Friday the registration of all new contributors to this pension fund will begin, to which all Bolivians who contribute must join.

The Public Manager is expected to complete the migration process of all the information of the contributions registered in the private AFPS, such as AFP Futuro de Bolivia and Previsión, until May 2023 when it begins to fully operate, despite the fact that this entity already It is seven years old.

“In Latin America today there are questions to the AFPS about what we had already advanced, therefore, we should feel proud of being the pioneers in pension administration,” said Arce.

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