AFP Withdrawal 2024: who will be able to access it, how would the money be collected and what is missing for it to be approved?

The Economy Commission chaired by parliamentarian César Revilla approved, last Monday, March 25, the opinion that seeks to authorize a new withdrawal of up to 4 UIT (S/25,600) from AFP funds without restrictions. Said legislative proposal was ready to be debated in the Plenary Session of Congress after undergoing some modifications to its replacement text.

However, some prior administrative procedures need to be followed for its final approval, which were explained by the head of this parliamentary working group in statements to La República, in response to the request of various congressmen for it to be exonerated from its term. publication and prioritized in the next plenary session of the Legislature.

AFP Retirement 2024: who could access the release of up to 4 UITs?

With 17 votes in favor and 3 against, the Economy Commission approved last Monday, March 25, the opinion that authorizes a seventh withdrawal of pension funds of up to 4 UIT, equivalent this year to S/20,600.

The modality validated by legislators establishes that the free disposal of up to S/20,600 of AFP funds is aimed at all contributors, except those who already participate in the special early retirement regime. Other than that, there are no exceptions or restrictions.

Let us remember that members who are 50 years old or less than 65 years old, and are unemployed for a period greater than or equal to 12 consecutive months, are part of the special early retirement regime.

As of the publication of the law, 15 days later, the withdrawal will be effective after the request has been submitted and the maximum period indicated has elapsed.

It should be emphasized that the withdrawal is intangible, that is, it cannot be seized for any debt, except for food debts, which can affect up to 30% of the amount withdrawn.

What would the procedure be like to make the AFP 2024 withdrawal?

If the opinion for the universal withdrawal of up to 4 UIT of AFP funds is approved, this would be carried out in 4 armies. According to the text of the approved opinion, up to 1 UIT will be paid every 30 calendar daysafter one month has elapsed from the submission of the application.

Previously, members must submit their applications virtually or physically within 90 days after the law is published. Additionally, payments will be made as follows:

1. The first payment will be 1 UIT (S/5,150) within 30 days after the request.
2. The second will also be 1 UIT and will be made 30 days after the first disbursement of funds.
3. The third will be for up to 1 UIT (S/5,150) within 30 calendar days also counted from the previous withdrawal.
4. The process would culminate with a fourth payment that would be 1 UIT, according to the replacement text.
5. 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 Retirement 2024: what is missing for the disbursement of funds to be approved?

Although the Economy, Banking, Finance and Financial Intelligence Commission approved by majority the opinion for the effective withdrawal of up to 4 UIT (S/20,600), this measure is still required to be debated in the Plenary Session of the Congress of the Republic .

According to the president of the Economy Commission, César Revilla, in statements to La República, the debate on this opinion would take place at the end of April or in the first days of May. “Due to our own administrative processes. Remember that everything in the Plenary is important and all the projects are in queue,” he said.

Once the rule is approved by the Plenary of the Legislature, the signature of the law must be sent to the Executive Branch, which could observe it or authorize its publication in the newspaper El Peruano. If the latter is your decision, the regulations are established on how the withdrawal procedures would be, the preparation of which is assumed by the Superintendence of Banking and Insurance (SBS).