Bolivia’s private pensions system burdened by non-payment

Bolivia’s private pension industry is now over five years old, but a recent report by the Superintendency for Pensions, Securities and Insurance (SPVS in its Spanish acronym) reveals that no less than 1,945 employers of all sizes (some 20 % of the total membership) are not passing on the contributions deducted from workers’ wages to the respective pension fund managers (known as AFPs).