I have a friend, a very cool, kind, generous and funny lady. She is around 55 years old. We were talking about old age, since her older sister (75 years old) is losing her mind, forgets where she is, repeats the same question several times because she forgets that she was already answered, of course in that condition she can no longer work, they are both entrepreneurs and had a business together, so neither of them counts on the state to give them a pension. I asked my friend what she was thinking of doing about it (she has no idea about the existence of Bitcoin and I have never mentioned it to her, I don't like to talk about it with anyone other than my parents). She answered the following:
"I spoke to the accountant and he said that the "convenient" thing to do was to retire my sister. Her retirement pension is 250 soles (67$) per month, and they are not going to pay her more because she still has 10 years left to retire."
My mind was exploding with every word he said, especially when he said "he still had 10 years left", meaning that his sister had to wait until she was 85 to receive a supposedly full pension. I kept thinking "they must be kidding me". Why pay for a private pension insurance?
I asked him, what are you doing to secure your old age?, The answer was the same, she is paying the same pension insurance for herself, she pays 150 soles per month ($40), for a few years and when she retires she is supposed to be paid 600 soles ($162)
"Isn't that too little?" I asked her, and she replied with a tone of confidence, calmness and conformity that the amount was very good, that it was enough.
My mind kept exploding, but I didn't want to ask him any more questions.
Working so many years of your life, trusting in insurance only to be given crumbs of your own money later. Plus I'm not even taking inflation into account which makes the situation worse.
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I am researching pensions for senior citizens and their poverty rate in Peru.
The numbers I've been seeing reinforce the idea that only we can save ourselves and ensure our old age thanks to Bitcoin. The system will never help you.
The National Solidarity Assistance Program Pension 65 protects senior citizens aged 65 or older who have been classified as living in extreme poverty by the Household Targeting System (Sisfoh), providing them with a financial subsidy of S/ 250.00 every 2 months.
Through this periodic income, Pension 65 seeks to meet the basic needs of its users, promote their social revaluation, and contribute to the revitalization of small local markets and fairs.
This program belongs to the Ministry of Development and Social Inclusion (Midis), and was created on October 19, 2011, through Supreme Decree No. 081–2011-PCM, as a response by the State to the need to provide protection to a particularly vulnerable sector.
If you are 65 years old or older, you do not receive a retirement pension and your household has been registered by the Household Targeting System (Sisfoh) as living in extreme poverty, you can join the Pension 65 Program to receive an economic benefit every 2 months, which allows you to meet your needs.
Please note that, to be part of the program, you must not receive a pension from the public or private sector, including those economic benefits that are granted through EsSalud. https://www.gob.pe/582-acceder-a-servicios-para-personas-adultas-mayores-programa-pension-65
Institutional information of Sisfoh What do we do?
The Household Targeting System (Sisfoh) is an intersectoral and intergovernmental system, that is, it works hand in hand with different State institutions, such as provincial and district municipalities at the national level, to collect data from households and identify those who are in poverty.
The main function of Sisfoh is the administration of the General Household Registry (PGH), which contains socioeconomic information on households and their members. Likewise, Sisfoh provides socioeconomic information to targeted public interventions (IPF) such as Juntos, Pensión 65, Contigo, SIS, Pronabec, among others, for the identification of their potential users. https://www.gob.pe/es/43472-ministerio-de-desarrollo-e-inclusion-social-sisfoh
What factors determine the amount of my pension?
Among the factors that determine the amount of your pension are the following:
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The accumulated funds in your account, plus the profitability it has generated
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The Recognition Bonus, if you have one
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The number of your beneficiaries
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The modality and currency in which you choose your pension
We are a Pension Fund Administrator with more than 30 years of experience. Since 1993, we have been working to build a better financial future for families. We won the 6th tender for affiliates, we lead the market for managed pension funds and we have 15 agencies nationwide.
We tell you what AFP Integra does with your money:
We receive your money and manage it so that when you retire you receive a monthly pension for the rest of your life.
How much do they deduct from my salary? Every month, the company where you work transfers 11.70% of your salary to us.
What is the advantage of being in AFP Integra? It is that you will not only save your contributed money, but our team of specialists will take care of investing it to make it grow.
All AFPs charge 2 types of commission for managing your money
Commission on the fund we have the lowest on the market. You only pay 0.78% per year on your fund and 0% commission on your salary. Applies to all clients, except those who have chosen to remain on Commission by Flow in 2013.
Flow Commission this commission, unlike the commission on the fund, is charged from your salary, and is 1.55% per month.
The elderly (60 years and older) total 3 million 229 thousand 876 in the country and constitute 10.1% of the national population, according to the population projections by age range of the INEI for the end of June 2017; of which 1 million 282 thousand 500 people worked in the first quarter of 2017, increasing by 9.9%, when compared to the same quarter of the previous year.
Of the total elderly population, 54.4% is part of the Economically Active Population (EAP), according to the results of the National Household Survey (ENAHO) of the first quarter (January-March) of this year, reported the Head of the National Institute of Statistics and Informatics (INEI), Dr. Aníbal Sánchez Aguilar, within the framework of the National Day of the Elderly, which is celebrated every August 26.
This proportion varied slightly compared to that recorded in the first quarter of 2016, when 54.7% of the elderly population was part of the EAP. The number of elderly people who are not part of the EAP varied from 45.3% to 45.6% from the first quarter of 2016 to the same period in 2017.
Employment in the population aged 60 to 64 years old grew by 10.5%
In the first quarter of 2017, the employed adult population aged 60 to 64 years old increased by 10.5%, from 623,700 to 689,100 people. Followed by the group of 65 years of age and older, which grew by 9.2% (from 543,200 to 593,400 people).
30 out of 100 older adult workers work in Commerce
By branch of activity, 30.3% of those aged 60 and over work mainly in Commerce. Likewise, 12.2% work in Agriculture/Fishing/Mining, 8.7% in Manufacturing, 7.1% in Accommodation and Food Services, 6.9% in Education, 6.1% in Transportation and Communications, 3.9% in Construction and 24.8% in Other Services.
66 out of 100 older adult men are part of the EAP
The number of men in this age range amounts to 1,505,761, and that of women, to 1,724,115, according to the projections indicated above. Among men, 66.2% are part of the EAP; and among older women, it is 43.6%. The ENAHO figures for the first quarter show a decrease in the proportion of the older adult EAP in men compared to the same period in 2016, when they made up 68.3%. In the case of women, the EAP increased in relation to what was recorded in the same period last year (42.4%).
Employment in the population aged 60 to 64 grew by 10.5%
In the first quarter of 2017, the employed adult population aged 60 to 64 increased by 10.5%, from 623,700 to 689,100 people. This was followed by the group aged 65 and over, which grew by 9.2% (from 543,200 to 593,400 people).
30 out of every 100 older workers work in Commerce
By branch of activity, 30.3% of those aged 60 and over work mainly in Commerce. Likewise, 12.2% work in Agriculture/Fishing/Mining, 8.7% in Manufacturing, 7.1% in Accommodation and Food Services, 6.9% in Education, 6.1% in Transportation and Communications, 3.9% in Construction and 24.8% in Other Services.
66 out of 100 older men are part of the EAP
The number of men in this age range amounts to 1,505,761, and that of women, to 1,724,115, according to the projections indicated above. Among men, 66.2% are part of the EAP; and among older women, 43.6%. ENAHO figures for the first quarter show a decrease in the proportion of the elderly EAP in men compared to the same period in 2016, when they accounted for 68.3%. In the case of women, the EAP increased compared to the figure recorded in the same period last year (42.4%).
One fifth of the elderly population receives Pension 65
Of the population over 65 years of age, 20.3% have the Pension 65 program, which is aimed at those who are in extreme poverty. Among men, coverage is 18.7%, and 21.7% in the case of women. 58.7% of elderly people in rural areas are beneficiaries of this program, 2.7% in Metropolitan Lima and 13.5% in urban areas (not taking into account the capital of the country).
The 2017 National Census will be carried out on October 22, as is required every 10 years, and will allow for the generation of more updated and precise information on the economic and social conditions of the elderly population, which in turn will make it possible to better focus the resources of the Pension 65 social program and prioritize their delivery to the most vulnerable elderly people.
44 out of 100 senior citizens have a pension
Less than half of senior citizens (43.8%) have a pension: 22.5% of the population of this age is affiliated with the ONP; and 11.5%, with an AFP. 6.5% receive an income from the public system under the cédula viva regime, equivalent to the value of the remuneration they received during their time of service, and those who receive another type of pension constitute 3.3%.
75 out of 100 work in micro-enterprises
The working population over 60 years of age works mainly in micro-enterprises (74.9%), which have from one to 10 workers and are the most present in the country, 3.7% work in companies with 11 to 50 workers and 21.4% work in larger companies (with 51 or more employees).
27 out of 100 households are headed by senior citizens
As of the first quarter of 2017, 26.5% of households nationwide had a senior citizen as head of household, while in the same period in 2016, this form of household constitution occurred in 25.4% of cases.
Internet access is growing among people over 60 years of age
18.4% of this population sector used the Internet in the first quarter of 2017, which shows an increase in this proportion, which in the first quarter of 2016 was 16%.
Women have a higher recurrence of chronic diseases than men
Chronic diseases such as arthritis, hypertension, asthma, rheumatism, diabetes, tuberculosis, HIV or cholesterol are present more in elderly women (82.5%) than in men (71.9%), according to the latest National Household Survey of the first quarter of the year.
84.7% of older adults are affiliated with a public or private health insurance, a higher proportion than in the first quarter of 2016 (81.2%). In Metropolitan Lima, insurance coverage is higher (86.9%) than in rural areas (86.4%) or in urban areas (82.3%, excluding Metropolitan Lima).
Of the total population aged 60 and over, 40.9% is affiliated with Essalud, 36.7% has SIS and 7.1% has another type of insurance.
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The territorial distribution of the incidence of poverty shows that Ayacucho, Cajamarca, Huancavelica and Puno are the departments where extreme poverty persists. In addition, it shows that both the Lima region, Metropolitan Lima and the Constitutional Province of Callao are the departments with the highest increase in poverty percentage compared to 2019 (see graphs). Currently, more than 2.7 million poor people are in Metropolitan Lima.