Pension reform: minimum pension of S/600 will only apply to those who have contributed for 20 years

Pension reform underway. The withdrawal of 4 UITs from the AFPs that will be debated this Monday the 25th in the Economic Commission of Congress has captured the attention of citizens, but the opinion that will be presented today with changes introduced last Friday brings conditions for the application of a pension minimum of S/600, which could make more than one member despair.

According to the opinion that will be discussed in the working group led by Congressman César Revilla, all contributors of retirement age who accredit at least 240 effective contribution units, whether contributions, will be entitled to receive the minimum pension of S/600. mandatory or voluntary with a provisional purpose at the time of retirement “and do not make withdrawals of funds from the entry into force of this law.”

And for the others? Members who do not manage to accredit the 240 effective contribution units have the right to receive a “stepped pension” equivalent to a fraction of the minimum pension proportional to the years of contribution.

However, to access the aforementioned graduated pension it will be necessary to have a minimum fund equivalent to 120 contribution units, that is, to have contributed for at least 10 years. The amount of the graduated pensions and the requirements to access them will be established by regulation.

Later, the opinion details that the special proportional retirement pension for having contributed more than 10 years, but less than 15, is set at S/300; and the special proportional retirement pension for having contributed more than 15 years, but less than 20, is set at S/400.

“If the member belongs to the SPP, they must transfer their funds to the SNP as essential to access the minimum or graduated pension addressed in this article,” the document states.