The Compensation for length of service (CTS) is now available for people who wish to withdraw up to 100% of this fund, in accordance with Law 31480, enacted by President Pedro Castillo on May 25, and which allows workers to make the withdrawal automatically. exceptional until December 31, 2023. In this note we will tell you if it can be taken out several times.
However, you have to know that the CTS is a right fund that all formal workers have, the same one that is deposited by their employer twice a year (May and November) and serves as a provision in case of job loss.
Can I make partial withdrawals from my CTS account?
Yes, you can make partial withdrawals according to what you need until completing 100% until December 31, 2023.
According to the regulations of the approved law, the request for money from the CTS can be made both in person and remotely.
Face-to-face retreat
Workers can request the withdrawal of money in cash by going to the tellers or windows of the financial entity in which their account is located, in this way they must receive the disbursement immediately.
Withdrawal by application
- If you want to dispose of your money, you can do so by entering the Internet banking of the financial institution where you have your CTS. Do not forget to have registered or have your digital channel active.
- The withdrawal may be total or partial, of the amount available in your respective CTS deposit account.
- To transfer your money to an account, you can do it through transfers in the same bank or an interbank transfer (the latter way will take two days).
How to know how much money you have from CTS?
Many times, the worker does not know how to access the statement of account for Compensation for Time of Service and this generates certain doubts.
First you must know in which financial entity you have been deposited. To be able to absolve this premise, we recommend you talk to your employer so that you can know said information.
If your money is deposited in the same entity where your salary is paid, request information about your account and you can join it so that you have a single card.
Who will be able to withdraw 100% of the CTS?
All workers, without exception, are authorized to make the disbursement of their entire CTS, but we must bear in mind that only those who are in the formal system can do so; since the other informal employees do not have this benefit.
Once you have completed all these steps, you will be able to consult, according to the app of your financial institution or by phone, the amount you have in your CTS.
