The Post-Employment Bonus is a benefit aimed at older adults who were public sector workers in Chile. This subsidy provides a lifetime monthly contribution of $94,421 to women who are 60 years of age or older and men from 65 years of age. The Superintendency of Pensions is responsible for granting this bondwhich aims to improve the income of those who have ceased their employment in the public sector.
Requirements
The first step to access the Bond Post-Labor is having worked in the public sector and having been affiliated with the AFP system in Chile. In addition, one of the requirements is that the applicant has the approval of his or her former employer and that he or she submits the application within one year of reaching retirement age, either at age 60 in the case of women or at age 65 in the case of men.
He Bond Post Laboral is intended only for former employees of certain public institutions. Among the entities that qualify to grant this subsidy are central and regional governments, municipalities, state universities and organizations such as the Comptroller General of the Republic, the National Television Council and the General Directorate of Civil Aeronautics, among others.
To start the application process for the Bond After work, the interested party must go to his or her former place of work and submit a formal application. It is essential that the former employer is on the list of the corresponding institutions so that the benefit can be processed. The deadline for completing this procedure is one year, counting from the date on which the applicant reaches the legal retirement age.
In addition to the age requirements and having worked in the public sector, there are other important conditions to be able to access the Bond Post-employment. The applicant must have paid contributions to an AFP and have ceased employment for reasons such as suspension from employment, voluntary resignation or having obtained an old-age pension. It is also necessary that the estimated net replacement rate be equal to or less than 55%, which ensures that this bonus is intended for those with lower incomes in their retirement.
The last requirement to obtain the Bond Post-employment is having accumulated more than 20 years of service in one of the institutions mentioned above. This time of service can be continuous or discontinuous, which allows many people who have worked in the public sector at different stages of their lives to access this benefit.
