A few days ago, at a meeting with the press in La Paz, the Bolivian Deputy Minister for Pensions and Financial Services, Olvaldo Jáuregui, announced that the country's workers' pension fund had, for the first time, reached the figure of USD 19 billion. This figure represents almost 50 percent of the country's total gross domestic product.
The current distribution of pensions in BoliviaTheseextremely positive figures for the national economy are not passed on to the working population, at least in terms of pay-as-you-go. One of the main complaints of Bolivian workers is the poor distribution of pension money: at present, those whose salaries are below the 6000 Bs threshold and who have contributed to the public pension system for 35 years or more earn approximately 70 per cent of their salary at the time of their retirement. However, this is not the case for those who earn more than 10,000 Bs.
According to Soluciones de Jubilaciones of IEA Economía Bolivia, those who earn more than 10,000 Bs, even slightly, will only receive 36 e of their salary as income at the time of their retirement. Without a doubt, although the egalitarian nature of this distribution is intuitive, there is undoubtedly an excessive difference between the two percentiles.
Possible solutions for Bolivian pensionersWith these data in hand, it is clear that the loss of purchasing power of Bolivian pensioners who earned more than Bs 10 000 during their contribution period is very significant. However, there are solutions. Firstly, the pension funds offered by the banks are one of the most attractive solutions.
Thanks to them, and through monthly contributions made to them, Bolivian workers who exceed Bs 10,000 in income can have an extra contribution for their retirement. But there are also different investment options capable of guaranteeing good incomes for the future, one of the most obvious being offered by the oil industry. Bolivia is a producer country that is currently in the process of modernizing its infrastructure with the aim of becoming more self-sufficient in the future. The same happens with lithium.
It should not be forgotten that it is one of the main deposits in the world and that this material is indispensable for the production of the batteries that equip practically all the electrical devices in the world.