The members of the Pension Fund Administrators (AFP) They could withdraw up to S / 18,400 (4 tax units-UIT) if Congress gave the green light to the opinion approved yesterday by the Economy Commission.
The initiative fell on seven bills that proposed economic reactivation measures and was justified in the autonomy of the management of private pension funds.
During the discussion, the legislative formula was modified so that the return is the equivalent of 4 ITU and not 3 ITU (S/ 13,800) as stated in the initial proposal.
Also, it has no limitations; that is, the withdrawal is aimed at all affiliates, which is estimated at approximately 5.2 million people. While the disbursement of the requested amount would be made in four parts every 30 days, as was done in the 2020 and 2021 withdrawals.
The withdrawal request will be submitted to the AFP, which will have to proceed to qualify the requirement and after 30 days up to S/ 4,600 (1 UIT) will be paid and so on every 30 days the remaining S/ 13,800 (3 UIT).
The funds withdrawn as provided in the opinion are intangible, so they cannot be discounted, compensation, legal or contractual, attachment, retention or affectation by court order.
At the close of this note, it was sought that the members of the commission sign the approved opinion to reach the Board of Speakers and thus raise its debate to the Plenary.
This new withdrawal would be added to the five previous opportunities, which have already led to the departure of S / 65,923 million from the Private Pension System in the last two years, according to the AFP Association.
“Recourse to the SPP for the sixth time is indeed a danger and will undermine it, since it does not have any focus as other laws have had. If this is indiscriminate and without any criteria, the loss can amount to S / 31,853 million, “he told this newspaper elio sanchezdeputy superintendent of AFPs of the Superintendence of Banking and Insurance (SBS), who added that this calculation is given as long as those who have access to the Early Retirement Regime (REJA) for unemployment.
And it is that, if we recount the past laws, they had some condition, such as not having contributed to their Individual Capitalization Account for a period of six and twelve months (DU No. 034-2020 and Law No. 31068), being in perfect suspension of work (DU nº 038-2020) and not being part of the Early Retirement Scheme for Unemployment (Law nº 31192).
Sánchez admitted the need for a reform of the pension system. He also pointed out that “there is a big problem” with it due to “poor coverage” because it only covers the formal population.
Points pending for discussion
During the debate in the Economy Commission, it was decided to separate the articles referring purely to the withdrawal of AFP funds for approval. Thus, some points remained pending for discussion in a subsequent session.
These are the articles referring to the endorsement of funds and the payment of mortgage loans. The proposal for the Ministry of Economy and Finance (MEF) to extend the program will also be evaluated. Reactive Peru so that the companies that owe the SPP use that source of financing to pay the debts to the AFPs.
Elio Sánchez, superintendent of AFP
“Recourse to the SPP for the sixth time is going to undermine it, since it does not have any focus as other laws have had. If it is indiscriminate, the loss can amount to S / 31,853 million.