On Monday, March 25, 2024, in the Congress of the Republic, it was approved in the Economy Commission the bill that allows the seventh withdrawal of AFP funds universally up to an amount of 4 ITU. This decision was made with 17 votes in favor, compared to 3 votes against and no abstentions, which represents an important step that has a direct impact on the economy of thousands of citizens.
However, it is important to emphasize that this progress is only the beginning of a legislative process that has yet to be fully developed. The approval of the opinion does not guarantee immediate access to the money mentioned. Several stages and procedures must still be followed exactly in the following process. Below, we explain all the details of the AFP withdrawal.
Can the AFP be withdrawn now?
Currently, no precise date has been established for access to the Tax Tax Units (UIT) of retirement savings funds. The procedure requires that the opinion be debated in plenary, which could happen this week or next. After approval by Congress, the bill will be sent to the Executive, which has the option of issuing observations or promulgating it.
Subsequently, the Superintendence of Banking, Insurance and AFP (SBS) must define the regulations for making withdrawals. Based on previous processes, withdrawals would be managed in tranches of a ITU every 30 days. Members have the possibility of submitting their applications in person or online within a period of 90 calendar days after the law is enacted.
Once the application is submitted, the Pension Fund Administrators (AFP) They will make payments monthly. It is mandatory that the regulation be published within 15 days after the promulgation of the law.
Who will be able to access the release of 4 UITs?
The financial release is open to all taxpayers of the Pension Fund Administrators (AFP), with the exception of those who qualify for the special early retirement regime. They are allowed to withdraw up to 95.5% of the total accumulated in their fund.
It is important to highlight that this special regime is aimed at taxpayers who, at the time of requesting it, are 50 years old or older and less than 65 years old (the legal retirement age) and who have been unemployed for a period of 12 months or more than consecutively before making your request.
How much is a UIT worth in 2024?
For this year, the ITU is worth S/5,150. With the withdrawal of pension fundyou can withdraw up to 4.
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.
