AFP Retirement 2023: what did the MEF say about an eventual disbursement of the pension fund?

The debate of the 11 bills that seek to authorize a seventh withdrawal of AFP funds will begin in the coming weeks, as announced by the president of the Congressional Economy Commission, César Revilla. The MEF has been warning about the impact that the approval of this rule would have on the country’s fiscal management and, this time, Minister Alex Contreras spoke out again on this issue. Below, we tell you what the head of the MEF said at a press conference and the statements of some parliamentarians.

AFP Retirement 2023: what is the position of the MEF?

At a press conference, the Minister of Economy and Finance, Alex Contreras, pointed out that it would be “counterproductive” to approve a new disbursement of the pension fund, since it would harm the country’s fiscal management and affect retirees.

“Leaving Peruvians unprotected at a time when productivity is low and when people need to rest, which is what happens when a person reaches retirement age, is not something that helps”he said.

Let us remember that during the forum “Peruvian pension reform and investment prospects”, organized by El Dorado Investment, the head of the MEF had stated that he will not rest until he puts a lock on the legislative initiatives that propose a seventh withdrawal of pension funds. AFP.

“We have to put an end to the AFP withdrawals. A seventh withdrawal, as proposed by the congressmen, is absolutely unfeasible. We are going to continue fighting and discussing to avoid the seventh withdrawal. We were able to do it in the first semester and the The goal is to ensure that the system does not continue to be violated and that a lock is definitively placed on this exit,” he indicated.

It is worth mentioning that the pension reform proposal prepared by the Multisectorial Commission seeks to prohibit the optional or extraordinary withdrawal of pension funds. In that sense, the Minister of Economy confirmed that said bill will be sent in September to dialogue with the Legislative Branch and reach consensus.

AFP Retirement 2023: when will the debate start and what do congressmen say?

According to the president of the Congressional Economy Commission, César Revilla, the debate of the proposals that seek to authorize a seventh withdrawal of AFP funds will take place at the end of the representation week that will take place from December 25 to 29. September.

“The congressional colleagues, after the week of representation, are going to begin to support their bills so that they begin to refute the arguments that the MEF is giving and other entities in the opposition. “We are going to open the debate, under my presidency all the issues are going to be discussed.”he said in the last session of the working group that he presides.

For parliamentarian José Luna, author of the bill that proposes withdrawing up to 4 UITs from the AFP pension fund, not approving his legislative initiative would mean that “the political class would turn its back on the needs and claims of the population.” Likewise, he announced on his Twitter account that the debate on this proposal will begin in the first week of October.

“New hope for thousands of AFP members! In October, we will debate the withdrawal of 4 UITs, a necessary and urgent measure to alleviate the economic crisis and strengthen the weak pockets of families. Let’s go for the withdrawal no matter what! “, he pointed.

AFP Retirement 2023: what bills are pending debate?

To date, there are 11 bills from various congressmen that propose authorizing AFP members to request the withdrawal of their retirement funds. Of them, 8 seek the release of up to 5 UIT, 4 UIT, 3 UIT, 50% and 70% of their Individual Capitalization Accounts (CIC). Meanwhile, the rest propose increasing the withdrawal amount to buy a property or pay debts through the mortgage guarantee. These are:

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