The Superintendency of Banking, Insurance and AFPs (SBS), through Circular No. AFP-181-2022, approved the bases and schedule for the sixth tender for the administration service of the individual capitalization accounts (CIC) of the workers who join the Private Pension System (SPP).
In accordance with the provisions of said rule, published today in the official newspaper El Peruano, the opening of envelopes and the adjudication will take place on December 16 through a public act.
The winning AFP of this tender will assume the affiliation of the workers who join the SPP for the first time, during the period between June 1, 2023 and May 31, 2025.
These affiliates will remain in said AFP for a period of two years; however, it is also contemplated that, after 180 days of permanence have elapsed, members have the possibility of transferring to another AFP, as long as the latter offers a higher return net of commissions.
End of the mixed commission
On the other hand, through Resolution No. 03344-2022, also published today in the Official Gazette, the SBS establishes complementary provisions for the bidding process, considering that, once the flow component reduction corridor is completed, the period ends. of collection of the mixed commission and, consequently, the affiliates in this type of commission will be charged only a commission on the balance.
It should be noted that, as of February 2023, the component of the commission on the flow will no longer be applicable, so it is necessary to update the methodology for choosing the winning AFP from the sixth bidding process onwards.
Thus, it is provided that the winning AFP of the tender will be awarded to the one that offers the lowest value of the annual commission on balance.
In the event of a tie, by means of a draw among the companies with the lowest value of the balance commission, the winner of the tender will be determined.
