MEF rejects another AFP withdrawal: “Of every S/1,000 you withdraw, S/18,000 is from your retirement”

This week a new bill was presented that seeks to authorize the withdrawal of up to S/19,800 (4 UIT) from the AFPs, which has once again put on the agenda the issue that was suspended in the previous legislature of the Congress of the Republic , stage in which none of the 10 initiatives presented with the same objective were debated. The head of the Ministry of Economy and Finance (MEF), Alex Contreras, has stated that having 4 or 5 UIT is “disproportionate”.

“Nowhere in the world is it proposed to withdraw resources from pensions because that means leaving citizens vulnerable at a time when they cannot even work. It is difficult for people aged 65 or 70 to have access to the labor market and these people are being left without a pension. Of every S/1,000 that you withdraw today, in practice it is S/18,000 when you retire. So, 4 or 5 UITs seem to me (amounts) absolutely disproportionate to the current situation.”, explained the minister.

From 2020 to 2022, six withdrawals of up to 4 UITs were authorized; However, for the Minister of Economy, these funds should not have “never” been touched. Besides, reiterated that the measure is “populist” and that it would have a negative impact on any attempt to reform the pension system Peruvian, an issue that has remained pending and is expected to be discussed in this new legislature.

According to the proposal of congressman José Luna Gálvez (Podemos Peru), the withdrawal of 4 UIT could mean the departure of S/24,000 million and benefit 5 million people.