Only those who did not contribute 6 consecutive months until November will be able to withdraw 4 UITs from their AFPs

Seventh retirement in play. The Congressional Economy Commission will debate today the withdrawal of up to 4 tax units (UIT) from the AFPs, an amount equivalent to S/20,600. However, this mechanism will be limited for those who did not contribute 6 consecutive months until November 2023, so they could already be working.

Article 14 of the opinion, which the working group led by Congressman César Revilla will debate today, establishes that, as of the entry into force of the new law, “the extraordinary or withdrawal of funds accumulated in individual accounts is prohibited. of mandatory contributions to the system by affiliates during their active stage”.

However, there is an exception, which has been a matter of controversy since March 13, when they did not debate the then prediction of this pension reform: a withdrawal of up to 4 UITs from the AFPs, but in a limited way, that is, not for all.

According to the wording of the current opinion, with changes included between rooster and midnight on the last Friday the 22nd, the withdrawal of up to 4 UIT from the AFP will be authorized only for affiliates who, until November 30, 2023, “do not have accreditation of pension contributions to your individual capitalization account (CIC) for at least six consecutive months”.

Withdrawal 4 UIT from the AFPs: if you withdraw, there is no minimum pension

The document clarifies that what was previously stipulated applies until the withdrawal is equivalent to 95% of what was contributed by the affiliate; The remaining 5% is transferred directly by the pension fund administrator (AFP) that corresponds to EsSalud.

There is another situation that has not been aired in its entirety either: if the member proceeds with the withdrawal of up to 4 UIT from the AFP, he will be disqualified from accessing the minimum pension of S/600 proposed by Congress, which will be equated to the new pension amount of S/600 in the ONP.

This condition would seek to discourage the seventh withdrawal of funds from the AFP, which has been widely criticized at a time when the economy is going through a period of progressive reactivation, although late in terms of formal employment.

It should be noted that this provision is not applicable to those who qualify to access the Early Retirement Regime (REJA) due to unemployment, according to the opinion of the Economy Commission.

AFP: it can also be withdrawn to pay for the beach house

There are other mechanisms previously established for the withdrawal of funds in the current law, such as 25% for a first home, or withdrawal in the case of a degenerative disease, such as cancer, that reduces the life expectancy of the contributor.

However, the opinion modified last Friday contemplates an unexpected withdrawal of up to 50% of the funds to pay a mortgage loan, whether or not it is for a first home, and even for a beach house that has been acquired in the pastso it is not focused and would not have support.