On April 27, it was published in the Official Gazette A Peruvian man the law of the new recognition bond. This measure that benefits both contributors and exporters of the Pension Standardization Office (ONP) was approved at the insistence of the Congress after obtaining a large majority of 86 votes in favor.
New ONP Recognition Bonus: who will be the first beneficiaries?
This initiative has been awaited by thousands of members of the ONP which were changed at the beginning of 2002 to a AFP and, because of this, they lost all of their funds. However, it is important to note that the first beneficiaries to receive this transfer will be those who are about to retire.
In calculations, there are close to 50,000 contributors who are close to the stage of retirement, as former Minister of Economy Luis Miguel Castilla previously pointed out to this newspaper. For his part, the head of the MEF, Alex Contreras, regretted that for this purpose In the first year alone, more than S/5,000 million would be allocated in a context where there are very large social gaps.
Recognition bonus: what is the term for the first disbursement?
Upon being published in El Peruano, the law has already entered into force as of today and, therefore, the Executive you have up to 12 months to grant the new recognition bonusthat is, until April 2024.
“Affiliates and ex-affiliates to the National Pension System who transferred or will transfer to the Private Pension System have the right to receive, for the contributions made. The aforementioned bonus is deposited ex officio in the individual capitalization account (CIC)”, see article 2 of said law.
The first beneficiaries will be those who are on the brink of retirement. Photo: ONP
In addition, the Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) must establish the procedures and adequate guidance so that users are aware of and make their collection effective.
In short, we show here the total group of people who will benefit with disbursement at age 65:
- Affiliates that went from the ONP to the AFP from 2002 to 2021: 3.1 million.
- Current ONP contributors who have incentives to relocate: 1.9 million.
- excoticants of the ONP (Those who at some point contributed to the public system): 2.7 million.
It is very likely —as has happened with other laws that have a strong impact on the treasury— that the Executive will present a claim of unconstitutionality before the Constitutional Court (TC) to stop this law, and everything will depend on what this highest body decides.
New Recognition Bond: Will the government sue this law?
Contreras Miranda pointed out that his initial position is against the approval of the recognition bond and said that a new observation against the regulations is being evaluated, which may go as far as the Constitutional Court (TC).
Due to the strong impact on the treasury, the Executive would file a lawsuit before the TC. Photo: Andean
“We are evaluating a new observation at this time and if we have to go to the Constitutional Court we will (…) The position of the MEF is clearly contrary to this rule, especially in a context where there is a pension reform proposal on which we sent the report to the commission that is managed at the Executive level and is already being discussed”, he indicated on April 20 in statements to TV Peru.
Source: Larepublica
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