Peru Seeks Pension Fund Changes in 18 Months, Andina Says

Peru’s government expects to implement within 18 months rules designed to lower private pension fund fees, Andina reported, citing comments by Finance Minister Miguel Castilla.

The legislation, which seeks to reduce commissions by increasing the number of companies that manage pension funds and spurring competition, will be sent to Congress for approval, Castilla told TV Peru, according to the state news agency.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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