The reception period had expired on February 28. The objective is that more than 374,000 workers can recover their pension contributions, updated by the profitability they were able to obtain.
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Public sector entities will have until April 15 to benefit from the incentives for the payment of pension contributions due by December 2022, this after the extension of this period was approved in Law 31983. The acceptance period had expired last February 28.
Law 31888 established the Regime for Rescheduling Payment of Pension Contributions to the Pension Funds of the Private System for the Administration of Pension Funds owed by Public Entities (REPRO AFP III), which seeks to generate incentives for the payment of pension contributions owed to December 2022, providing an exceptional and faster mechanism for recovering pension contributions.
This is the second time that it has been expanded with the objective that more than 374,000 workers can recover their pension contributions, updated by the profitability that they were able to obtain, thus managing to improve the pensions and benefits granted by the Private Pension System.
To benefit from the benefits of Repro AFP III, entities must submit their application for acceptance through the AFPnet portal, in which they will also be able to find the debt to be reconciled, and they will also be able to split their debts up to a maximum of 10 years.
The debts will correspond to the amount of the contributions discounted to the workers plus the profitability they would have generated (based on the returns of Fund 2 of the AFPs), extinguishing the fines, surcharges and interests generated, and with the acceptance of the Repro AFP III. judicial collection processes are suspended.
It is expected that 2,731 public entities will be able to benefit from this mechanism. The debt of public entities amounts to around S/12,051 million, with 79% corresponding to executing units of regional and local governments. With the Repro AFP III program, said debt could be reduced by 89%, according to estimates by the Ministry of Economy and Finance (MEF).
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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.
