According to Édgar Robles, former superintendent of Pensions, the intention of the Costa Rican Social Security Fund (CCSS) of using the mandatory supplementary pensions of workers to capitalize the Disability, Old Age and Death Regime (IVM) is equivalent to having someone stealing your wallet:
It is private money and to take it is similar to stealing it.
According to the expert, to do that is illegal and it reflects the CCSS desperation to look for resources, even though it was warned about the situation years ago.
The approach also includes eliminating the temporary administration of the People’s Bank for Mandatory Savings of workers. This was known after the CCSS decided to increase by a percentage point the contribution of workers to the IVM regime.
He noted that other countries have succeeded in reforming their pension systems by establishing different financing schemes.
It is necessary to understand that the system as it is structured today is not viable for the country, because it was founded for a demographic reality that has not existed for a long time in Costa Rica,
declared Robles.