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Meaning of afp




Danilo Enrique Noreña Benítez

afp
  36

In Colombia it stands for Administradora de Fondos Pensionales. They are companies that are dedicated to raising money as contributions from workers and companies to a fund in order, once the time is right, to pay the retirement pension to the worker.

  




John Rene Plaut

AFP in Chile : Pension Fund Administrator . Companies that fulfill the function of raising funds from and for active workers and the function of investing them in more profitable/secure funds, stocks and financial papers. The new constitution, in development in 2022, can separate the collection function and may decide to replace these individual savings entities, by another one of distribution.

  



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