On Wednesday, April 4, the plenary session of Congress approved the opinion that authorizes the optional withdrawal of up to 4 tax tax units (UIT) or S / 18,400 for all members of the Pension Fund Administrators (AFP). The bill received 107 votes in favor and eight against.
The proposal approved in plenary was the one drawn up by the Economy Commission, approved on April 12. This proposed that all affiliates, whether they are active contributors or not, can withdraw their money from the fund.
This detail marks a difference with the opinion approved last Tuesday in the Labor Commission, which established the same withdrawal amount, but only in the cases of people who do not have three consecutive months of contributions to the system.
LOOK: Everything you need to know if you want to disaffiliate from the Private Pension System
In this regard, Joaquín Rey, spokesman for the AFP Association, points out that the approved measure would represent a disbursement of up to S/ 31 million.
How would the withdrawal of funds be executed?
Although the exact dates for the disbursement of the money are not yet known, since the Law as such has not yet entered into force, the proposal establishes that the disbursement will be made in three parts as follows:
- First disbursement of up to 1 UIT: within a maximum period of 30 calendar days after submitting the request to the AFP.
- Second disbursement of up to 1 UIT: Within a maximum period of 30 calendar days.
- Third disbursement for the remaining requested amount of up to 2 UIT: Within a maximum period of 30 calendar days.
How to request the AFP withdrawal?
The extraordinary withdrawal of funds is carried out as follows:
- Affiliates submit their application remotely, virtually or in person, and only once, within 90 calendar days after the regulations of this Law come into force.
- Up to 1 UIT will be paid every 30 calendar days, with the first disbursement being made 30 calendar days after the request has been submitted to the private pension fund manager to which the member belongs. This is applicable until the second disbursement and the rest will be delivered in the third.
- In the event that the member wishes to stop withdrawing the funds from his individual capitalization account, he may request it only once from the private pension fund manager 10 calendar days before the disbursement.
