AFP Withdrawal: Economy Commission set a start date for the debate on the release of funds

AFP Withdrawal: Economy Commission set a start date for the debate on the release of funds

The Commission on Economy, Banking, Finance and Financial Intelligence of the Congress of the republic announced that the debate on the return of funds from the Pension Fund Administrators (AFP) will begin at the end of the parliamentary representation week, which is scheduled for September 25 to 29. That is, the discussion would begin in October.

César Revilla, president of the aforementioned commission, indicated that the congressmen who have presented a bill that authorizes a new withdrawal from the AFP will have to support their initiative and respond to the arguments against it by the Ministry of Economy and Finance (MEF), the Superintendency of Banking, Insurance and AFP (SBS), and the AFP Association.

“The congressional colleagues, after the week of representation, are going to begin to support their bills so that they can begin to refute the arguments that the MEF and other entities in the opposition. We are going to open the debate, under my presidency all the topics are going to be discussed,” Revilla said during the last session of the Economy Commission.

Given this announcement, the congressman of Peru Bicentenario Guido Bellido He welcomed the fact that the release of AFP funds was put on the agenda, since it would be a relief measure for households in the face of rising food prices.

“A relief measure for families, in this economic crisis due to the increase in the cost of living, is the withdrawal of 4 UITs from the AFP. We salute Congressman Revilla for scheduling a debate date, hoping for a real commitment to working people who demands their money,” said Bellido.

AFP Retirement 2023: how many bills have been presented so far?

In total there are 11 legislative initiatives that have been presented to date and seek the release of up to 5 UIT, 4 UIT, 3 UIT, 50% and 70% of their Individual Capitalization Accounts (CIC). In addition, other projects propose increasing the withdrawal amount to acquire a property or pay debts through the mortgage guarantee.

  • AFP withdrawal of up to 4 UIT (S/19,800) – Digna Calle (Vamos Perú)
  • AFP withdrawal of up to 3 UIT (S/14,850) – Víctor Cutipa (Peru Bicentennial)
  • AFP withdrawal of 50% of funds – Elías Ávalos (Vamos Perú)
  • AFP withdrawal of 70% of funds – Américo Gonza (Perú Libre)
  • AFP withdrawal of 50% of funds for home purchase – Patricia Juárez (Fuerza Popular)
  • AFP withdrawal from 3 UIT (S/14,850) – Víctor Flores (Fuerza Popular)
  • AFP Withdrawal from 5 UIT (S/24,750) – Jaime Quito
  • AFP Retirement from 4 UIT (S/19,800) – Guido Bellido (Peru Bicentennial)
  • AFP withdrawal of 25% to pay debts with mortgage guarantee – Melissa Córdova (Avanza País)
  • AFP withdrawal of 100% for home purchase – Ilich López (Popular Action)
  • AFP withdrawal from 4 UIT (S/19,800) – José Luna (Vamos Perú).

Source: Larepublica

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