The possibility of accessing a new withdrawal of up to 4 UIT (S/20,600) from AFP funds has generated expectations among citizens. Although the opinion authorizing this disbursement has only been approved by the Economy Commission chaired by César Revilla, some administrative procedures still remain for subsequent debate in the Plenary Session of Congress.
Meanwhile, members of the Private Pension System (SPP) have other possibilities to access their money without having to reach the age of 65. Below, review the requirements and modalities to request early retirement that has been in force since the enactment of Law No. 31332 in 2021.
AFP 2024: what is early retirement?
Early retirement is a modality that allows members of the Private Pension System in Peru to withdraw from the labor market before reaching the conventional retirement age, which is generally set at 65 years. This option offers the possibility of accessing the funds accumulated in the individual capitalization account (CIC) starting at age 50, under certain conditions established by law.
Let us remember that regulation No. 31332, published in September 2021, standardized the age to access early retirement in the SPP. Thus, AFP members have the option of requesting the withdrawal of up to 95.5% of their fund or requesting their pension before turning 65. If the first option is chosen, the remaining 4.5% will be used to cover the benefits offered by EsSalud.
Who can access early retirement and what are the requirements?
According to the legislation that establishes the Special Early Retirement Regime (Reja), three different modalities are contemplated. To access any of them, it is necessary to meet the following requirements:
- Ordinary early retirement: Affiliates can access this modality from the age of 50, as long as they have sufficient funds to finance a pension equal to or greater than 40% of their average remuneration. Likewise, they must have at least 72 months of contributions in the last 120 months prior to requesting the benefit.
- Early retirement due to unemployment: This modality is aimed at members who are unemployed for a period of 12 consecutive months before requesting retirement. You must be at least 50 years old and meet the background requirements established by the AFP.
- Early retirement for risky work: intended for workers who carry out activities considered high risk such as underground mining, open pit mining, in mining, metallurgical and steel production centers that are exposed to toxicity, danger and unhealthiness.
How can I request an early retirement?
Before requesting early retirement, it is important that you verify your situation with the AFP to which you are affiliated. To do so, you can contact the corresponding numbers according to the administrator to which you belong.
- For AFP Habitat: (01) 230-2200 (Lima) or 0801-14224 (provinces)
- For Prima AFP: (01) 615-7272, option 1, (Lima) or 0801-18010 (provinces)
- For AFP Integra: (01) 513-5050 (Lima) or 0800-40110 (provinces)
- For Profuturo: (01) 215-2828 (Lima) or 0800-11434 (provinces).
After making these queries, you can request early retirement through the website of the AFP to which you are affiliated. Simply follow these steps:
- Provide your application with your ID and date of birth. Choose the early unemployment retirement procedure and fill out the information requested in the form.
- Select the bank of your choice to receive your pension or withdraw your funds.
- Request the quote to find out the amounts offered by the AFP and insurance companies.
- Check all the information and choose the pension type that interests you.
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.
