On Wednesday, April 4, the plenary session of Congress approved the opinion that authorizes the optional withdrawal of up to 4 tax units (UIT) or S / 18,400 for all members of the Administrators of pension funds (AFP). The bill received 107 votes in favor and eight against.
It is worth mentioning that President Pedro Castillo would sign today the law that authorizes said extraordinary withdrawal of private pension funds, as announced by the Ministry of Labor and Employment Promotion (MTPE).
Who will be able to access the AFP withdrawal?
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.
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 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 affiliate 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.
In addition, the rule states that the approved withdrawal of funds maintains the status of intangible, and may not be subject to discount, legal or contractual compensation, embargo, retention, or in any way affected, whether by judicial or administrative order, without distinction. of the account in which they have been deposited.
What is stated in this provision does not apply to judicial or conventional withholdings derived from child support debts, up to a maximum of 30% of the amount withdrawn.
