After approval of the ruling that allows AFP members to withdraw up to 4 UIT (S/20,600) from their individual capitalization accounts, many Peruvians are wondering what the next steps are to complete its implementation. Although this legislative proposal was approved in the Economy Commission last Monday, March 25, a series of administrative procedures still need to be completed so that it can be debated in the Plenary Session of Congress.
However, an agreement by the Board of Spokespersons could advance its incorporation to the agenda of this assembly of the Legislative Branch, which has a session scheduled for next Wednesday, April 3. Along these lines, Congresswoman Digna Calle, from Podemos Peru, demanded from the President of Congress, Alejandro Soto, that the debate on this ruling be scheduled with priority to finalize the disbursement of private pension funds.
AFP withdrawal: they demand that the opinion be debated in the next plenary session
The congresswoman from Podemos Peru, Digna Calle, sent a very urgent letter to the president of Congress, Alejandro Soto, in which she requested that the opinion of universal withdrawal of AFP funds of up to 4 UIT (S/20,600) be exempted from the publication deadline and included in the next session of the Plenary for debate and final approval.
“Request that, in accordance with your powers, you take the necessary steps to ensure that the opinion of bill No. 4201/2022-cr, ‘law that authorizes members of the Private Pension Fund Administration System, to optional withdrawal of its funds up to an amount of 4 UIT’ and others was approved yesterday, March 25, 2024, in the Economy Commissionbe exonerated from the publication period and incorporated where the opinion that allows the optional withdrawal of contributions from AFP funds is debated.”says the document.
Likewise, the parliamentarian recalled that, for several months, members of the Pension Fund Administrators have been waiting for the respective authorization so that they can withdraw up to the amount of 4 UIT, with the purpose of facing the impacts of the current crisis and boost the economy of Peru.
“Millions of Peruvians urgently need to recover their 4 UITs. Strong actions now! It’s time to comply with the people!” he wrote on his X account (formerly Twitter).
What would the AFP withdrawal of up to 4 UIT be like?
The Economy Commission chaired by César Revilla approved, by majority, the opinion of the law that allows AFP members to withdraw up to 4 UIT from their individual savings accounts, without restrictions. However, there are some changes to the replacement text that we list below:
- Applications will be entered physically or virtually within ninety calendar days after the publication and entry into force of the regulations of the law.
- An amount of up to 1 UIT will be paid every 30 calendar days after one month of submitting said request. It will no longer be effective in 3 fleets as planned.
- If the member refuses to withdraw funds from his or her individual account, he or she may request it, one time only, from his or her AFP 10 days before the next disbursement.
AFP withdrawal from 4 UITs: what is missing for its final approval?
As is public knowledge, the Economy, Banking, Finance and Financial Intelligence Commission approved, with 17 votes in favor and 3 against, the opinion that authorizes AFP members to withdraw up to 4 UIT (S/20,600) of their individual capitalization accounts. The legislative proposal was ready to be debated in plenary; However, some prior administrative procedures need to be followed.
For the opinion to be debated in the Plenary Session of Congress, the Board of Directors must incorporate it into its regular agenda or the Board of Spokespersons can exempt it through an agreement. “No opinion can be debated that has not been published on the Congress website at least seven calendar days before its discussion in the Plenary, unless a waiver of one of these requirements is approved by the Board of Spokespersons,” it reads. Article 78 of the Regulations of the Legislative Branch.
The latest statements by César Revilla, head of the Economy Commission, indicate that the administrative procedure would take about 15 days and that its debate could take place in the last week of April or the first week of May. It is worth emphasizing that the next Plenary Session of Congress will be held on Wednesday, April 3, to address the request for a vote of confidence from the cabinet chaired by Gustavo Adrianzén.
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.
