AFP: In which cases can I withdraw up to 95.5% of my pension fund?

According to figures from the Superintendence of Banking, Insurance and AFP (SBS), the affiliates of the Private Pension System (SPP) who decided to withdraw up to 95.5% of their individual capitalization account managed by the AFPs reached the figure of 478,026 as of January this year. In which cases can this percentage of the funds be available? money and what steps should i follow? We tell you here.

It is important to specify that AFP affiliates who want to access this benefitthey must meet a series of requirements, such as being of the age of legal retirement (65 years), ordinary advance, unemployment anticipated, as well as other regimes.

The early retirement scheme for unemployment (REJA) is aimed at affiliates between 50 and 65 years of age who do not work for 12 months. From May 2016 to January of this year, some 340,542 contributors requested their funds through this regime.

We show you below the list of those who can request up to 95.5% of the funds, according to the SBS:

• Those who are 65 years of age or older.
• Those who access the Special Early Retirement Regime for the Unemployed (GRID).
• Those who access the ordinary early retirement (JAO).
• Those who have the status of pensioners under the modality of Scheduled Withdrawal.
• Those who are receiving a pension in the Temporary Income section.
• Those who are receiving a pension under the Mixed Income or Combined Income modality (with respect to the available balance).

According to SBS data, of the more than 400,000 affiliates who opted to withdraw 95.5% of their funds, 26.55% did so at the legal retirement age. Meanwhile, about 74% did it under 65 years of age. It should be noted that if a retiree has this fund and dies, their potential beneficiaries they will no longer be entitled to a survivor’s pension.

AFP: what steps to follow for the withdrawal of 95.5%?

If you meet the aforementioned and you are within the legal, early retirement age or other regimes described above, you must follow these steps to request a 95.5% withdrawal.

• Step 1: Come to your AFP, where they will provide you with comprehensive advice on the options available so that you can make an informed decision.
• Step 2: sign the Estimates of Retirement and/or Pension Options that your AFP will give you.
• Step 3: signs the Retirement and/or Pension Option Decision Form. To do this, you have a period of no less than 7 business days.
• If you choose to request delivery of up to 95.5% of your fund, you will receive it within 3 business days.