When you begin your career, you face a crucial decision: select the pension system to which you will contribute month by month to ensure your future when you retire. You have two main options: the Private Pension System (SPP), managed by the Pension Fund Administrators (AFP), and the National Pension System, managed by the Pension Normalization Office (ONP).
The AFPs operate as private entities, in which the amount of your pension will depend on your contributions and the returns they generate throughout your working life. On the other hand, the ONP It works as a pay-as-you-go system in which your pension comes from a collective fund, financed by the contributions of all members. In this system, your contributions do not generate direct profitability. Find out which one you belong to below.
How to verify if I am affiliated with the ONP?
To verify if you are enrolled in the National Pension System, perform the following two steps:
- Access the affiliate consultation page of the ONP. You can do it by clicking THIS LINK.
- Choose the type of document (DNI, CE or passport) and provide the corresponding number.
At the bottom of the page, the result of your query will be displayed, indicating whether or not you are registered in the National Pension System (ONP).
This is how you can know if you are affiliated with an AFP
To verify your membership Private Pension Systemfollow these three steps:
- Access the Affiliate Consultation website at Private Pension System.
- Perform the search using your identification document or your full name.
- Choose one of the options and provide the required information.
After completing these steps, a report will be generated with details about your membership, including your personal information, membership date, AFP in which you contribute, among other aspects.
What is the difference between an AFP and an ONP?
The AFP It invests the contributions in personal accounts in the name of the member, thereby creating a pension fund that is nourished by the contributions and their returns over time. In contrast, in the ONPthe contributions go to a collective fund, from which the pensions of retirees will be financed, including yours.
In the system of AFP, there is no mandatory minimum contribution period, since the accumulated fund is your property. On the other hand, the ONP requires a minimum of 20 years of contributions to grant retirement. If you apply for retirement at a younger age, such as 17 or 18, your application will be rejected.
The maximum pension offered by the ONP is S/893, regardless of whether you have contributed for more than 20 years. Instead, the AFP It does not have an established limit for the pension, which will depend on the profitability obtained, the type of fund selected and the duration of the contributions.
The 4 AFPs in Peru. Photo: LR/Google composition
What are the AFPs that operate in Peru?
- AFP Integra: Part of the SURA group, it is one of the leading administrators in the Peruvian market, highlighted for its investment management and member services.
- AFP Habitat: Of Chilean origin, this AFP is characterized by its focus on the profitability and security of the pension funds it manages.
- AFP Premium: It belongs to the Credicorp Group, which is one of the most important financial conglomerates in Peru. Prima AFP is recognized for its extensive service network and investment options.
- AFP Profuturo: This administrator is part of the Scotiabank Group, and is distinguished by its focus on personalized advice and pension education for its members.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
