Congressman César Revilla Villanueva of Popular Force has proposed that a seventh withdrawal from the AFPs of up to S/9,900 (2 UIT) be authorized for affiliates who, until August 31, 2023, do not credit contributions to their individual capitalization account for at least 12 consecutive months. The rule would not apply to workers who meet the requirements to access the Early Retirement Regime for Unemployment.
It is estimated that the approval of the norm could mean an outflow of S/24,000 million from the AFP and that 5 million members would benefit.
The procedure to access the disbursement would be carried out as follows: presentation of the virtual or in-person application, the first payment will be made in 30 calendar days for the value of 1UIT (S/4,950) and the second could take up to 45 days for its payment. disbursement. In addition, it is specified that the Superintendency of Banking, Insurance and AFP (SBS) will have a period of 15 days after the regulation is promulgated, to issue the operating procedure.
The explanatory statement details that there are different reasons why people choose to withdraw their funds, among them the following have been identified: necessity as a result of COVID-19low profitability offered by AFPs, new investment opportunities, lack of credibility in the system and the existence of an economic recession that is deepening with the climate crisis.
It should be noted that, due to the payment of commissions made by affiliates monthly, the AFPs have obtained income of S/855 million 567,000 between January and September 2023. In this way, the profits of the four administrators exceed S/362 million, which represents an increase of 9.7% compared to the S/330 million net profits reported in the similar period of 2022, according to the SBS.
“We can affirm that under the system that the Pension Fund Administrators operate and the collection of commissions, These always win, and they do it in a million-dollar way at the expense of the affiliates who can win or lose,” It is specified in the initiative presented by Revilla. It is added that the objective is to provide financial relief to those who are suffering the effects of the economic recession.
The document was presented on November 20 by the president of the Economy Commission of Congress and bears the signature of five other legislators from the Fuerza Popular bench. For its promulgation, the proposal must be evaluated by said working group and debated by the Plenary.
Source: Larepublica
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