New AFP withdrawal would not be effective this year

Although the Economy Commission will seek to present a report to authorize a seventh withdrawal of the AFP next Wednesday the 29th —as confirmed by the president of this working group to La República—, the procedure that the initiative must follow will not allow workers to access this money at least this 2023.

All scenarios

In the Congressional working group in charge of deciding whether to advance the authorization of a new withdrawal of pension funds, there are three factions, those who totally disagree, those who admit that it is limited and those who go for the 4 UITs.

Of the 21 regular members, at least Jorge Montoya, Adriana Tudela and Alejandro Cavero, from Renovación Popular and Avanza País, respectively, have expressed their categorical rejection of any type of provision of funds from the AFP.

While members of Perú Libre, Perú Bicentenario, Acción Popular, Podemos Perú and Juntos por el Perú only bet on a voluntary withdrawal of up to S/19,800 (4 UIT). In fact, several of them are authors of similar proposals, such as José Luna, Jorge Flores, Américo Gonza, Víctor Flores and Guido Bellido (accessory member).

The third group would be about to be assembled, which includes those who see a limited withdrawal viable only for the unemployed and for an amount no greater than 2 UIT.

The bill of the president of the commission, César Revilla (Fuerza Popular), who could have the support of Rosangella Barbarán, who previously stated that she would agree with the approval of the withdrawal for those affected by Cyclone Yaku, goes along this line. Other Fujimoristas could join them.

If the proposal is put to a vote the following Wednesday and approved, the document could reach the Plenary Session a day later. If in this instance you have the green light again, the Executive power will have 15 business days to enact or observe the rule, that is, it would not be law until after Christmas.

However, the Ministry of Economy and Finance (MEF) has already announced that if the withdrawal is not focused, it will observe the norm, so the deadline for it to be published in El Peruano, assuming that it is approved by insistence, could be extended until February 2024.

Who are unemployed?

With the presentation of Central Reserve Bank (BCRP), yesterday the stage was completed where legislators collect technical opinions regarding the provision of AFP funds.

The president of the entity, Julio Velarde, noted that it is difficult to know if the measure for unemployed people will really reach people who are in this condition, since it is likely that members who do not contribute are working informally or as independent workers to support themselves. .

They insist on a single session on withdrawals

Yesterday, José Luna Gálvez ( Podemos Peru ) demanded, through a letter, the president of the Economy Commission, César Revilla, to urgently call an extraordinary session to debate and vote on the withdrawal of the 4 UITs from the AFP.

The legislator emphasized that the proposal to be evaluated must consider all members, alluding to the measure presented by Revilla himself, which is only aimed at benefiting unemployed workers.

“Today is the time to give help to those affected by this recession,” Luna noted.

session. The working group received the latest technical opinion on the impacts of allocating AFP resources, this time from the president of the BCRP, Julio Velarde.

The data

Impact. For the BCRP, the approval of withdrawals will generate the sale of less liquid assets, which would further reduce the value of pension funds. In addition, the country risk would increase.