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New recognition bonus: keys for those who went from the ONP to the AFP since 2002

New recognition bonus: keys for those who went from the ONP to the AFP since 2002

Multiparty proposal updated the bond that recognizes the worker’s contributions to the national pension system when they migrated to the AFPs. Even though he Executive note the autograph, it could be approved by insistence this summer. This deposit will be made in the pensioner’s individual account at the time of retirement.

1| What is the new recognition bonus?

The recognition bonus recently approved in Congress seeks to repay the contributions of those affiliated with the National Pension System – the ONP – who migrated to the Private AFP System from 2002 onwards. Previously, the cutoff for these bonds was at 1992, 1996 and 2001.

From the Congress they are aware that, if the lost contributions are not compensated, they would be appropriating the effort of years of labor activity of thousands of compatriots.

2| Who will receive it?

AFP affiliates who have contributed to the ONP, at least, 48 months (4 years) between January 1, 2002 and December 31, 2020, and provided they have been transferred to the Private System until July 31, 2021.

Total It will benefit 115,189 affiliates who in the last two decades lost their contributions when they changed their pension systemremember Oscar Alarconpresident of Cenajupe.

However, it will also be considered for those citizens who now seek to leave the ONP to go to an AFP.

3|If I do not meet the contribution requirements and I want to switch to an AFP, will I lose my money?

That’s how it is. According to the text approved in Congress, with 113 upvotesif the threshold of four years of contributions is not met, your money would be lost if you migrate to one of the four AFPs, warns Alarcón.

4| Since when will I be able to access the recognition bonus?

It is expected that this Monday, January 9, Congress will sign the autograph that will be sent to the Executive power. Immediately afterwards, President Dina Boluarte has 15 days to promulgate the initiative or observe it. In the case of rejecting it, the Legislature has the power to approve it by insistence. It is estimated that the formalization of this law would not pass this summer.

If enacted, within a period of no more than 12 months, the Executive Power, through a supreme decree endorsed by the MEF, must issue the recognition bond, establishing the requirements and conditions for people to access their money. Here, the SBS must detail the procedures so that affiliates are aware of their right to the bonus.

5| And if the Government opposes giving the bonus?

The MEF announced that “they will analyze the proposal because Congress has no spending initiative.” Alarcón recalls that the regulation of this bond cannot contravene the law by constitutional mandate. Then, if approved by insistence, the MEF must comply with articulating the return.

The immediate cost of this regulation is S/752 millionbut they will not incur an “immediate cost” because the deposit will be made in the pensioners’ individual capitalization account upon retirement.

6| How much would correspond to me in the recognition bonus?

In previous bonds, a threshold of S/60,000 as a maximum for what each affiliate can receive; however, now the article that regulates this amount has been modified and the maximum value will be updated according to the inflation reported by the INEI.

A few months ago, The Republic announced that the amounts that affiliates would receive would range between S/3,275 and S/15,985depending on your years of contribution.

“Those citizens who now seek to leave the ONP to go to an AFP will also be considered.”

Source: Larepublica

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