Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) announced it will form an internal Technical Working Team to develop a comprehensive study of Peru’s pension systems and the social pension protection model, and has created a multidisciplinary internal committee to carry out actions needed to implement open finance. The announcements were made by Superintendent Sergio Espinosa in a presentation to Congress’s Economy Committee. The pension study is intended to assess what should be improved or changed to make the system sustainable, broad in coverage and understood and accepted by citizens, with the approved technical report to be submitted to the Central Reserve Bank of Peru, Congress and the Ministry of Economy and Finance. Espinosa reported that 511,000 new members joined between January and August 2025, while seven authorised withdrawals over the past five years reduced pension funds’ contribution to GDP from almost 25% in 2019 to 10.3% in 2025. For open finance, the SBS committee is receiving technical assistance from the World Bank and plans to organise roundtables with financial institutions, fintechs and other regulators, ahead of an expected pilot in 2026. Separately, the SBS plans to open decentralised offices in Tarapoto, Trujillo and Cusco in the coming months and three additional offices in the second half of 2026, and noted that a bill establishing a national Financial Education Week has cleared the Economy Committee and is pending debate in the full Congress.

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