The sixth withdrawal of the AFP it has been approved, published and is underway. Soon members of the Private Pension System will be able to submit a request for part of their funds, but how informed are you about the sixth withdrawal and what should you take into account? Do you know what happens if you have debts or an alimony lawsuit? What will the payment schedule be like? Here we tell you.
MORE INFORMATION: See when the AFP disbursement request begins, according to your DNI number
On Tuesday, May 31, through SBS Resolution No. 01767-2022the Superintendency of Banking, Insurance and AFPs (SBS) published the operating procedure and the corresponding regulations to comply with the provisions of Law No. 31478. It is expected that by mid-July the sixth AFP withdrawal will begin to be deposited for up to to 4UIT.
The Law was published on May 21, 2022 with the aim of alleviating the economic crisis resulting from the coronavirus pandemic, to which has been added the rise in prices of fuels and essential products due to the war between Russia and Ukraine. .
TEN THINGS YOU SHOULD KNOW ABOUT THE SIXTH AFP RETREAT?
Here are ten important facts you should know about the AFP’s sixth withdrawal.
1. Why was the sixth AFP withdrawal approved?
The Law was published on May 21, 2022 with the aim of alleviating the economic crisis resulting from the coronavirus pandemic, to which has been added the rise in prices of fuels and essential products due to the war between Russia and Ukraine. .
2. Who will be able to withdraw part of their funds in the sixth AFP withdrawal?
The law allows all AFP affiliates who are not of retirement age to withdraw funds.
3. How much money can be withdrawn in the sixth withdrawal of funds from the AFP?
AFP affiliates to withdraw up to 4 tax tax units (UIT) from their pension fund, which is equivalent to S/18,400.
4. What is the schedule to submit the request for the sixth AFP withdrawal?
For the sixth withdrawal of the AFPs, a schedule has been established so that affiliates, residents in Peru and abroad, can submit their request, in accordance with the last number of the National Identity Document (DNI). Unlike previous withdrawals, it will start with the highest number of the last digit (from 9 to 0) and three dates have been established.
5. Why was the order in the schedule changed?
The Association of Pension Fund Administrators (AFP) established the schedule starting with the highest number with which a DNI ends (9), unlike previous withdrawals, which began with (0), in order to be more equitable at the time of submission of applications and disbursement.
6. How and at what time do I submit my withdrawal request?
To request your withdrawal you must enter https://www.consultaretiroafp.pe/. You must complete the process online and provide an account number in soles. Office hours will be Monday through Friday from 8:00 a.m. to 6:00 p.m.
7. What happens if I don’t submit my application by the due date?
You have to make the request extemporaneously from July 26 to September 10, 2022.
8. How will the sixth withdrawal of AFP funds be distributed?
The Law indicates that the disbursement be in three parts, as on previous occasions:
- First part: Up to one UIT (S/4,600) 30 days after the request is computed.
- Second part: Up to one UIT (S/4,600) 30 days after delivery of the first amount.
- Third part: Up to two UIT (S/9,200) 30 days after the second delivery.
9. Can the money from the sixth withdrawal be garnished for debts?
The rule indicates that these withdrawals are intangible, nor can they be subject to a discount, attachment or judicial withholding, except for those judicial withholdings for child support debts, up to a maximum of 30% of the withdrawal.
10. How much money has already been withdrawn from AFP funds?
The deputy superintendent of the AFP of the SBS, Elio Sánchez, pointed out that the contributors to the Private Pension System withdrew almost S / 66,000 million, with the five regulations issued to face the impact of the covid-19 pandemic. He stated that 45% of the amount withdrawn has been made by people who were working.
MORE INFORMATION ABOUT THE AFP WITHDRAWAL
WHY IT IS SAID THAT THE WITHDRAWAL OF AFP WOULD INCREASE THE PRICE OF THE DOLLAR
Contributors may withdraw up to 4 UITs (S/. 18,400) of the funds from AFPafter the publication of the law by the official newspaper of El Peruano.
Javier Pineda, CEO of Billex, a Peruvian digital platform that -through a trust- connects people and companies to buy and sell dollars with a competitive exchange rate, suggests that 25 billion soles would be released in the market, which would take many Peruvians to convert their amounts into dollars in the face of uncertainty. MORE DETAILS HERE.
