the congressman Jose Luna Galvezfrom the Podemos Perú bench, proposes to modify Law 31670, the law that creates minimum pensions and promotes alternative voluntary contributions for pension purposes, so that AFP affiliates can withdraw the excess of the Minimum Retirement Balance (SMJ) at any time and not at retirement age as provided by the Ministry of Economy and Finance (MEF) and the Superintendency of Banking and Insurance (SBS).
This rule states that any active affiliate linked to the AFP may voluntarily benefit from a Minimum Objective Pension (PMO), which will be set by the citizen, but must not be less than the basic consumption basket established by the INEI. This amount may be modified as long as contributions continue. Besidesonce the target pension has been reached, the contributor will be able to withdraw his money after the age of 65.
PL 4864, presented on Wednesday, May 3, seeks to modify article 4 of this rule so that it specifies that the contributor You will be able to decide and access “immediately” on the surplus of the individual capitalization account (CIC). In addition, the following article would be added:
“Once the amount of the Minimum Objective Pension (PMO) has been reached, the Minimum Retirement Balance (SMJ) is calculated on a monthly basis and the excess is transferred from the individual capitalization account (CIC) to the account of voluntary contributions without a social security purpose for their free and immediate disposal by the member, as provided for in numeral 1) of article 4, without the need to reach the legal retirement age”.
The legislative initiative states that both the MEF and the SBS have distorted the meaning of Law 31670 when regulating itsince the original idea was that citizens could dispose of their money freely and immediately.
The document is already in the Economy Commission of the Congress of the Republic for its evaluation. If there is a vote in favor, it can be debated and voted on in plenary.
Source: Larepublica
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