do you want to go to the AFP? If you are currently a contributor to the National Pension System (SNP), but you want to switch to the Private Pension System (SPP), you should know what the requirements are and what happens to your contributions.
To carry out the transfer, it is important that you see if you qualify for the recognition bonus, which is a certificate granted by the Pension Normalization Office (ONP), where the contributions you made to the National Pension System (SNP) are recognized.
Next, we give you some details that you need to know if you plan to transfer from the ONP to the AFP.
WHAT SHOULD I TAKE INTO ACCOUNT WHEN I MAKE MY TRANSFER FROM THE ONP TO THE AFP?
If you want to make your transfer, take into account the following:
- Request guidance to find out if you would qualify to obtain a Bonus (recognition of contributions).
- Compare the pension you will receive in the ONP against the amount of the pension you would receive in the AFP.
IF I SWITCH FROM THE ONP TO AN AFP, DO I LOSE MY CONTRIBUTIONS?
If you have made contributions to the National Pension System, there is the possibility of recovering contributions by obtaining a Recognition Bonus. In the event that your profile does not qualify to obtain the bonus, you can lose the contribution.
How do I recover the contributions I made to the ONP?
The AFP will guide you in the requirements and the procedure. Remember that in the ONP if you reach 65 years of age and do not have 20 years of contributions, you will be left without a pension.
WHAT DO I NEED TO ACCESS THE ONP RECOGNITION BONUS?
If you contributed to the National Pension System (SNP) before joining the Private Pension System (SPP), you are entitled to some of the available Recognition Bonuses, provided you meet the requirements. These are, according to the page of the Association of AFPs:
1992 bond
- Requirements. Register and demonstrate with documents a minimum of 48 months contributed to the SNP between December 1982 and November and November 1992.
- Benefits. It recovers all the contributions made to the SNP up to November 1992 for a maximum face value of S/60,000, which is updated based on the Consumer Price Index (IPC) of December 1992.
1996 bond
- Requirements. Having joined the SPP between November 6, 1996 and December 31, 1997, in addition to registering and demonstrating with documents a minimum of 48 months contributed to the SNP between January 1987 and December 1996.
- Benefits. Recovers all SNP contributions made up to December 1996 for a maximum nominal value of S/ 60,000, which is updated based on the IPC of January 1997.
2001 bond
- Requirements. Register and demonstrate with documents a minimum of 48 months contributed to the SNP between January 1992 and December 2001 or the date on which they joined and evidence the last 12 consecutive payments or not, prior to the subscription date.
- Benefits. Recovers all SNP contributions made up to December 2001 for a maximum face value of S/ 60,000, which is updated based on the January 2002 CPI.
What about those who contributed after 2002?
If you are not eligible for a Recognition Bonus, you will lose what you contributed. Remember that in the ONP, if you turn 65 and do not have 20 years of contributions, you will be left without a pension. That is why it is important to be well informed before making decisions. In the AFP you choose, they can inform you before joining.
HOW DO I TRANSFER FROM THE ONP TO AN AFP?
• Request disaffiliation at the ONP.
• Go to the offices of the chosen AFP.
• Sign the Membership Contract.
• Present your ID.
• Attach a copy of the payment slips for the last two months.
• Attach ONP disaffiliation document.
