From the Congress of the Republic, bills have been approved that allow the withdrawal of funds from the AFPs and the CTS by the workers, alluding that the purpose is to alleviate the economic crisis due to the pandemic of the covidcoupled with the rise in fuel prices and basic necessities due to the war between Russia and Ukraine.
People who decide to withdraw pension funds and the CTS could look for the best alternatives to obtain a higher return.
The continuous increase in reference interest rates by part of the Central Reserve Bank (BCR) has made the situation more favorable for savings and investment opportunities, said Mario Guerrero, deputy manager of Monetary Economy at Scotiabank.
“In general, rates are rising worldwide and in the case of Peru, when the BCR raises the interest rate, the rest of the system’s rates behave in the same direction.“, I note.
Guerrero explained that there is an increase in time deposit rates throughout the system and that this could be an interesting alternative to capitalize on the surpluses that will be available both for the sixth withdrawal from the pension fund and for the greater availability of the CTS.
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Likewise, he noted that another important alternative is provided by mutual funds, mainly those called income funds, which operate with fixed income instruments.
“The most important recommendation is that people take these savings alternatives based on their risk profile since not all have the same profile and not all alternatives have a guaranteed return, because they vary according to market behavior”, he stated.
For Jorge Guillén, associate professor of ESANwe are in a difficult moment because the stock markets are not doing well and many have had losses, so there are not many options to invest.
“When the economy is slowing down, it is convenient to make the withdrawal only if it will be invested in a business that is going to yield more than 7% in dollars”said.
He also added that it is likely that most will keep their funds in their accounts since most of the group of affiliates have already made their withdrawals in the previous five opportunities.
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For Guillén, many financial entities are giving good rates on CTS deposits now that the BCR is raising the interest rate, so it is not convenient to withdraw the funds deposited by companies.
In this Guerrero agrees, who does not recommend withdrawing these resources, unless there is a specific need, such as payment of debts, which allows some profit to be made by giving greater value to the assets one has.
Increase in BCR interest rates contributes to a favorable scenario for savings.
Data
- According to Guerrero, rates are still on the rise and are between 6-7% in the market, but the BCR will continue to raise the interest rate, which would push those levels even higher.
- The behavior of the rates may be pressured by the greater competition from financial entities that will seek to retain deposits by paying even higher rates.
- “With a volatile market, the choice will depend on the risk profile of each person”, said Mario Guerrero of Monetary Economics at Scotiabank.
