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AFP withdrawal from 4 UITs: which banks would support a new disbursement of up to S/20,600?

AFP withdrawal from 4 UITs: which banks would support a new disbursement of up to S/20,600?

After back and forth, the Plenary Session of Congress will debate this Thursday, April 11, the ruling that seeks to authorize AFP members to withdraw up to 4 UIT (S/20,600) from their individual capitalization accounts. For this legislative proposal to be approved, a simple majority is required according to article 52 of the Regulations of the Congress of the Republic.

As is public knowledge, the Ministry of Economy, the Central Reserve Bank and the AFP Association have warned of the negative impacts of this measure on retirees’ pensions. However, the Legislative Branch is preparing a new disbursement of private pension funds that would mean an outflow of S/34,000 million. Below, we tell you all the details about the position of the benches and a projection of votes within the framework of the next Plenary Session.

AFP withdrawal: which benches voted in favor of the ruling?

Last Monday, March 25, the Economy, Banking, Finance and Financial Intelligence Commission approved the opinion that authorizes a new withdrawal of up to 4 UITs from the AFPs. On that occasion, the bill was validated with 17 votes in favor, three against and no abstentions, after the working group chaired by César Revilla decided to separate said initiative from the prediction of modernization of the Peruvian pension system.

To have a better overview of the voting carried out by each bench, review the following list:


  1. César Revilla (Popular Force)
  2. Víctor Flores (Popular Force)
  3. Juan Carlos Lizarzaburu (Popular Force)
  4. Tania Ramírez (Popular Force)
  5. Americo Gonza (Free Peru)
  6. Segundo Montalvo (Free Peru)
  7. José Mita (Free Peru)
  8. Edith Julón (Alliance for Progress)
  9. Jorge Flores Ancachi (Popular Action)
  10. Álex Paredes (Teaching Block)
  11. Germán Tacuri (Magisterial Block)
  12. Isabel Cortez (Democratic Change – Together for Peru)
  13. Nieves Limachi (Democratic Change – Together for Peru)
  14. José Luna ( Podemos Peru)
  15. Elías Varas (Peru Bicentennial)
  16. Carlos Anderson (ungrouped)
  17. Ilich López (not grouped)


  1. Jorge Montoya (Popular Renewal)
  2. Adriana Tudela (Avanza País)
  3. Alejandro Cavero (Avanza País)

What will be the vote of congressmen on the AFP withdrawal?

The Republic spoke with some representatives of various parliamentary groups to find out their position in the framework of the upcoming debate on the seventh disbursement of private pension funds, which has received a series of questions from the heads of the Ministry of Economy and Finance, of the Central Reserve Bank, of the Superintendence of Banking, Insurance and AFP (SBS) and of the Association of Pension Funds.

According to parliamentarian José Luna of Podemos, there are the necessary votes to achieve approval of the proposal. However, he noted that he hopes to get more votes to achieve an irrefutable result. “I have been able to talk with other parties, there is a will to approve it. There are only a couple of benches left to join. “That’s what I’m going to dedicate myself to now.”he said.

For his part, Congressman Guido Bellido of Peru Bicentenario assured that his entire bench will vote in favor of the ruling on the optional withdrawal of the AFP and urged President Dina Boluarte to promulgate the rule when it is approved, since it will benefit millions of Peruvians who They need this money to alleviate their immediate needs.

A similar opinion is shared by parliamentarian Jaime Quito, who stated that “The AFPs have led to a dead end, since they raised funds by promising to exchange the pension for the return of contributions at the time of retirement, but now thousands want to release their money sooner because they know that there is no future with the administrators’ schemes “.

Along these lines, the ungrouped congressman Carlos Anderson said that he will vote in favor of people having the freedom to decide what to do with their pension funds and pointed out that, if the rule is observed, it will be approved by insistence in the Plenary. .

“I have repeatedly pointed out that the AFP pension system—as it exists—constitutes a failed system. I prefer voluntary savings systems with incentives to save and disincentives to retire. In that context and in the absence of a system with those characteristics, my vote It will be in favor,” he said.

AFP Retirement 2024: Review the projection of votes in the Plenary

In addition to the 17 congressmen who voted in favor of the AFP withdrawal ruling in the Economy Commission, we must note that since the beginning of the congressional period, 29 bills in this regard have been presented, the authors of which are the congressmen who make up the following parliamentary groups. In this case, we do not record those legislators who paid for the validation of the proposal:

  • AFP withdrawal of up to 4 UIT (S/20,600) – Digna Calle (We can Peru)
  • AFP withdrawal of up to 3 UIT (S/15,450) – Víctor Cutipa (Peru Bicentennial)
  • AFP withdrawal of 50% of funds – Elías Ávalos (We can Peru)
  • AFP withdrawal of 50% of funds for home purchase – Patricia Juárez (Popular Force)
  • AFP withdrawal from 5 UIT (S/25,750) – Jaime Quito (not grouped)
  • AFP withdrawal of 25% to pay debts with mortgage guarantee – Melissa Córdova (Country Advances)
  • AFP withdrawal from 4 UIT (S/20,600) – Kelly Portalatino (Free Peru)
  • AFP withdrawal from 4 UIT (S/20,600) – Luis Aragón (Popular Action)
  • AFP withdrawal from 4 UIT (S/20,600) – María Taipe (Free Peru)
  • AFP withdrawal from 4 UIT (S/20,600) – Flavio Cruz (Free Peru)
  • AFP withdrawal of up to 3 UIT (S/14,850) – Edgard Reymundo (Democratic Change-Together for Peru)
  • AFP withdrawal from 4 UIT (S/20,600) – José Pazo (We are Peru)
  • AFP withdrawal from 4 UIT (S/20,600) – Wilson Quispe (Free Peru)
  • AFP withdrawal of 90% of funds due to terminal illness – Katy Ugarte (Parliamentary Unity and Dialogue)
  • AFP withdrawal of 1 UIT (S/5,150) – Jeny Lopez (Popular Force)
  • AFP withdrawal in cases of terminal illness or cancer – Germán Tacuri (National Concertation Magisterial Block)
  • AFP Withdrawal of 5 UIT (S/25,750) – Segundo Quiroz (National Concertation Magisterial Block)
  • AFP retirement from 4 UIT (S/20,600) – Alfredo Pariona (Not grouped).

As we see, the parliamentary groups that have the largest number of bills on AFP withdrawal are:

  1. Free Peru (7)
  2. Podemos Peru (4)
  3. Popular Force (4)
  4. Popular Action (3)
  5. Peru Bicentennial (2)
  6. Magisterial Block (2)
  7. Democratic Change-Together for Peru (2)
  8. We are Peru (1)
  9. Country Advances (1)
  10. Parliamentary Unity and Dialogue (1)

Except for the Renovación Popular bench and some parliamentarians from Avanza País who have spoken out against the AFP withdrawal of up to 4 UITs, there is a simple majority that could approve this opinion of the Economy Commission in the next plenary session this Thursday, the 11th. April.

If this ruling is validated, 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. After the rule is promulgated, the withdrawal procedure will be regulated and will be in charge of the Superintendency of Banking and Insurance (SBS).

Source: Larepublica

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