What if I want to withdraw from the AFP? If you have made the decision to disaffiliate yourself from the Private Pension System (SPP), here we explain what the requirements are and everything you have to take into account before doing the process.
MORE INFORMATION: What is necessary for the new withdrawal from the private pension fund to be effective?
What is free disaffiliation? This is a procedure carried out by a worker who has an AFP to return to the Pension Standardization Office (ONP). Therefore, it is essential that the employee has been in the ONP or IPSS.
This is an important decision because we are talking about the retirement pension. Below are the most important aspects you should know about disaffiliation, which must be done in person at the offices of the AFPs authorized by the Superintendence of Banking, Insurance and AFPs (SBS).
WHO SHOULD DISAFFILIATE?
Affiliates whose pension in the SNP is greater than the one they would receive in the AFPs should be transferred to the ONP.
WHO CANNOT DISAFFILIATE?
They will not be able to disaffiliate:
- People who have the status of pensioners
- Affiliates who meet the requirements to request the state guarantee of the Minimum Pension of the AFPs or the Early Retirement Pension 19990, established in Law No. 27617.
WHAT ARE THE REQUIREMENTS TO REQUEST THE FREE DISALIFIATION OF THE SPP?
The essential requirement is to have been a contributor to the National Pension System (SNP) before joining the Private Pension System (SPP). Next, the requirements indicated by the SBS:
- Have entered the SNP until December 31, 1995.
- At the time of submitting your Disaffiliation request, you must meet the years of contributions to have a Retirement Pension in the SNP (having completed 20 years of contributions between the SNP and the SPP).
- Not having had all the required information at the time of joining the SPP and having the requirements to have a pension in the SNP on the date of filing the Disaffiliation request.
If I disaffiliate, am I already entitled to a pension in the SNP?
No, to do so you must meet the age and years of contribution requirements established by the system, which is why another pronouncement from the ONP is required. These are the age requirements:
- 65 years of age for men and women and 20 years of contributions to the SNP.
- Men, 55 years of age and 30 years of contribution to the SNP.
- Women, 50 years of age and 25 years of contribution to the SNP.
WHERE CAN I SUBMIT MY APPLICATION FOR DISAFFILIATION?
The request for disaffiliation must be submitted to the AFP in which you are affiliated. If you wish to contact your AFP, enter HERE.
WHAT DOCUMENTS DO YOU REQUIRE?
In general terms, the SPP affiliate must attach to the disaffiliation request the following documents that support compliance with the requirements for disaffiliation, according to information from AFP Premium.
- Valid Identity Document.
- Certificate(s) or affidavit of employment signed and stamped by employers with updated payroll book location addresses.
- In the case of a Facultative Insured, a simple legible copy of the resolution. If this had not been issued by the ONP, submit proof of payment as such.
- Copy of the water or electricity bill of the address where the applicant resides.
- Settlement of social benefits signed and stamped by the employer.
- Withholding certificates of 5th. category.
- Pay slips with signature and/or stamp of the employer, each slip represents one month of contribution.
IF I DISAFFILIATE WITH THE AFP, CAN I COME BACK LATER?
You can’t, because the decision is irreversible. The AFP will transfer directly to the ONP the corresponding balance of the member’s CIC and the resources of the Recognition Bonus, to a common and solidarity fund (SNP).
