AFP 2024 Withdrawal: if I have less than 4 UIT, will I be able to access the disbursement of funds?

The approval of the seventh withdrawal of private pension funds in the Congressional Economic Commission has generated the expectations of thousands of affiliates, who await its final validation in the Plenary. Although more than two weeks have passed, the Board of Spokespersons has not reached an agreement to exempt the deadlines of the opinion and achieve its incorporation into the agenda of this legislative assembly.

According to the new replacement text of this bill, citizens will be able to access an optional disbursement of up to 4 UIT (S/20,600) from the AFP in four groups and without restrictions. However, one of the doubts that arises is whether members who do not have this amount in their individual capitalization accounts will be able to withdraw their funds. If you want to know the answer, read the following note.

If I have less than 4 UIT in my funds, will I be able to access the AFP withdrawal?

Unlike the initial ruling proposal, the substitute text that was approved by the Congressional Economy Commission establishes that the withdrawal of up to 4 UIT (S/20,600) of AFP funds will be for all contributors and no longer only for unemployed people. In that sense, the disbursement procedure would be carried out in 4 fleets. That is, every 30 calendar days, up to 1 UIT (S/5,150) will be paid after one month has passed since the application was submitted.

In this regard, one of the most recurring doubts regarding the ruling is whether those affiliates who have less than 4 UIT in their accounts will be able to access the disbursement of funds. According to its article 1, the purpose of this legislative proposal is to “authorize in an extraordinary manner all affiliates of the Private Pension System, without exception, the optional withdrawal of the funds accumulated in their accounts up to an amount of 4 UIT.”

This means that, if the opinion of the Economy Commission is approved, those who have funds less than S/20,600 will also be able to withdraw their money. For example, if you have S/1,000 in your AFP fund, it is possible for you to access a disbursement amount of S/100, S/200, S/500 or S/1,000, depending on your criteria and needs.

In the case of those affiliates who have more than 4 UIT in their accounts, they will not be able to withdraw all of their savings and, if it is the exact amount, they will be able to access these amounts in the four armies established by the ruling or a smaller amount. , according to your own considerations.

What would the AFP withdrawal procedure be like?

The Economy Commission, chaired by parliamentarian César Revilla, approved, on March 25, the opinion of the law that authorizes AFP affiliates to withdraw up to 4 UIT from their AFP funds, without any restrictions. The disbursement modality would be carried out in four installments, each of up to S/5,150, until reaching S/20,600. Next, review the procedure:

• Affiliates will submit their requests 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 (S/5,150) will be paid every 30 calendar days and the first disbursement will be made 30 days after the application is submitted to the AFP to which the affiliate belongs.
• If the member refuses to withdraw the funds from his individual capitalization account, he may request it, one time only, from his AFP 10 days before the next disbursement.

AFP Withdrawal: when would it be debated in plenary?

The Board of Spokespersons of Congress did not obtain the necessary votes to exempt the deadlines of the opinion that seeks to authorize a new AFP withdrawal of up to 4 UIT. That is, the legislative proposal will not be debated in the plenary session scheduled for this Thursday, April 4, despite the request of various parliamentarians.

“Yesterday (at the Board of Spokespersons), it was asked to put the withdrawal of the AFP on the agenda and prioritize in the Plenary, but it was not approved. The votes of Fuerza Popular, Renovación Popular and Avanza País were missing. What I asked was for it to be exonerated the opinion of the publication period. The necessary votes were not reached,” José Luna Gálvez, from Podemos Perú, told Exitosa Noticias.

Along the same lines, legislator Jorge Montoya told Canal N that the request to exempt the AFP withdrawal ruling from processing was not approved and that it would take two more weeks to address this issue. Finally, Luna Gálvez indicated that she will insist on her request at the next Board of Spokespersons and stressed that there is no excuse or justification to prevent her debate in the Plenary.

“Next week, the publication deadlines will be met. There is no longer any reason to postpone it. They would have to support their justification, there is no possibility of a veto from other groups when a group, like ours, which has 10 members, asks to prioritize a project “he sentenced.