As expected, the Economy Commission of the Congress approved by majority the eighth Retirement of AFP funds up to 4 UIT (S/21,400). In a debate that lasted about five hours, the parliamentary group gave the green light to the proposal that would take to the plenary session of today or tomorrow.
The initiative, which even had a predictation prior to the presentation of representatives of the Ministry of Economy and Finance, of the Superintendence of Banking, Insurance and AFP, and the administrator of the Pension Fund, generated the support of most legislators in the middle of the electoral campaign.
The approved opinion also establishes the return of 95.5% of its fund at the time of retirement. The proposal of the parliamentary group also states that the mandatory contribution of independent workers be eliminated.
It should be noted that during the debate, a previous issue was raised to vote only the withdrawal of the 4 UIT, however, this measure was not approved by the majority of parliamentarians.
Eighth Retirement Impact
According to the SBS, the eighth withdrawal of the AFP funds will mean the departure of approximately S/31,613 million of the system, which represents 27.5% of the total pensions.
He also indicated that, in 2019, 840,000 people were recorded with zero balance in their accounts, but with figures updated to July of this year, that amount rose to 2.2 million members.
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