If I contribute to AFP and die, do I lose my money?

If you are on the payroll or have joined the Private Pension System (SPP), you build a pension fund for your safety or that of your family. However, various factors make us ask ourselves the question: what will happen to the accumulated amount in my AFP if I die? For this reason, in the following note, we will provide you with more information about it.

In response to the aforementioned question, the AFP Association It states that for the direct beneficiaries of deceased contributors there are two ways in which they can dispose of said amount: survivor’s pension or be delivered as an inheritance.

How to access a survivor’s pension?

To access this sum, direct beneficiaries must present the following requirements:

• Death certificate.
• Medical certificate of death, autopsy or declaration of presumed death.
• Documents proving the remuneration of the affiliate for the last 48 months, only required in the case of those salaries that had been generated prior to joining the SPP.
• Police report in case of accidental death.
• Documents proving the status of beneficiary, as the case may be.

Who are considered direct beneficiaries?

• Your spouse or partner, parents or children who meet the conditions are entitled to this pension.
• Your children must be under 18 years of age, but they are also given a pension if they are of legal age up to 28 years of age, as long as they are successfully completing their professional studies.
• Disabled children totally and permanently disabled to work, in accordance with the disability opinion issued by the Comafp or Comec.
• Your parents are beneficiaries if they are disabled or if your father is 60 years old and your mother is 55, in the event that they both depend on you.

How can I agree to inherit an AFP fund?

• The relatives who are included in the will of the deceased pensioner or, in any case, proceed with an intestate succession in the situation that one does not exist.
• Loved ones may be heirs if they do not qualify as pension recipients.
• The recognition bond is also part of the estate if there are no beneficiaries.
• If there are, but your fund is sufficient and left over to pay them survivor pensions, the remaining amount (surplus pension) will be given to your heirs.

What do I need to collect the AFP from a relative who left me as heir?

• Certified copy of the death certificate or certificate.
• Copy of the medical death certificate, which can be simple, legalized or certified.
• If it is the case, a judicial declaration of presumed death.
• Signed inheritance application.
• Simple copy of the DNI of each heir or their representatives.
• Legalized or certified copy of one of the following options: member’s will, declaration of heirs or intestate succession in the Public Registries (no more than six months old).
• If you are an heir as the member’s father or mother, you need to submit an Affidavit of Non-Economic Dependency.