What are the 3 AFP withdrawal methods and what requirements do you need?

AFP Withdrawal 2024 |Today, Thursday, April 11, the Plenary Session of Congress will debate in an ordinary session the opinion that seeks to approve the universal withdrawal of up to 4 UIT (S/20,600) from the Pension Fund Administrators (AFP). To date, there are 28 bills that must be reviewed by the Economy, Banking, Finance and Financial Intelligence Commission, headed by Congressman César Revilla.

around this seventh retreat There is great expectation and one of the reasons that generates the biggest questions has to do with the modalities for withdrawing the money. Below, we show you what they are.

AFP Retirement 2024: how to access early retirement?

The early retirement It is one of the alternatives that has captured the attention of AFP members. This modality allows workers to withdraw part of their funds before reaching the official retirement age under certain conditions. It is an option especially valued by those who face unemployment situations or urgent economic needs.

According to the Law No. 31332, a member aged 50 or older can use 95.5% of his or her funds if he or she is unemployed for 12 consecutive months. The remaining 4.5% is allocated to Social Health Security coverage. There are three ways to advance retirement:

By ordinary modality

1. Be over 50 years old.
2. Have a pension calculated in Private Pension Systemwhich must be greater than or equal to 40% of the average of your remunerations received and income declared during the last 120 months, that is, in the recent 10 years.
3. Demonstrate 72 months of contributions in the last 120 months prior to requesting the extra benefit.

Due to unemployment

1. Be at least 50 years old at the time of starting the process and less than 65 years old.
2. Being unemployed for 12 months or more, continuously.
3. Attach an affidavit of unemployment status.
4. Present the document of a certain date that certifies the termination.

For risky work

• To access this regime, high-risk work must be carried out such as underground mining extraction activities, open pit, in mining, metallurgical and steel centers that are exposed to toxicity, danger and unhealthiness, as well as work in civil construction, among others. .
• Said pension will be financed with mandatory contributions, the Recognition Bonus—if any—and the State contribution through the Complementary Recognition Bonus.

AFP withdrawal requirements to buy a home

According to the Law No. 30478, an AFP member can request up to 25% of their pension fund to purchase their first home. This option allows you to cover the initial payment or amortize the mortgage loan. These are the necessary requirements to request this type of disbursement:

• Not having been or being the owner of a property acquired personally.
• Not having been or being the owner of a property in a community property regime.
• Not having been or being a co-owner, 50% or more, of a property registered or registrable in the Sunarp Property Registry.
• You must not be the owner, either individually or under a community partnership regime, of a mortgage loan or have the position of co-debtor with a responsibility of 50% or more on a property registered or registrable in the Property Registry of the Sunarp.

How to request the AFP withdrawal to purchase a home?

1. Go to the financial institution to request the mortgage loan and present the Sunarp Real Estate Index Search document. Then, your order will be evaluated and, if approved, you will be given the pre-conformity document.
2. With this document, go to your AFP and request the provision of a percentage of your pension fund (up to 25%). According to this, your AFP will carry out the respective evaluation and, if it is favorable, will send a communication of origin to the financial institution within a period of 10 business days.
3. Once said entity has received the order to disbursement, the AFP must transfer 25% of the funds to the financial system account. It is important to mention that, in the case of two members who are spouses, both may demand 25% of their pension fund, either for the purchase or amortization.

AFP Withdrawal: how can I withdraw the surplus from my pension fund?

As members of the Private Pension System (SPP), insured people have the possibility of accessing a minimum pension.

For this, there are two types of pensions, according to Law No. 27617 and Law No. 28991, each of them with specific requirements.

The law proposes the creation of minimum pensions and the expansion of voluntary contribution alternatives for AFP members to promote a better pension culture. It allows the contributor to decide the amount of the pension they will access upon retirement to ensure that it is not less than the amount of the basic consumer basket published by the INEI.

The regulation establishes that the minimum retirement salary will be updated until the member processes it. Furthermore, the AFP They must periodically inform their users of the amount pending to achieve the savings goal.

How many AFPs are there in Peru?

In Peru, the system of Pension Fund Administrators (AFP) It is made up of a specific number of entities in charge of administering the pension contributions of workers under the private regime. To date, 4 operate AFP in Peruvian territory. These are:

• AFP Integra: It is one of the AFP leaders in the Peruvian market, highlighted for its investment management and member services.
• AFP Premium: Recognized for its extensive network of care and investment options, it offers various retirement products.
• AFP Profuturo: Focuses on offering personalized pension plans, in addition to having financial advisory tools.
• AFP Habitat: The most recent addition to the Peruvian system of AFPfrom Chile, has brought innovation and competition to the sector.

AFP Retirement 2024: what are the pending bills?

• AFP Withdrawal from 2 UIT (S/10,300) – Segundo Montalvo Cubas (Free Peru)
• AFP withdrawal of up to 4 UIT (S/20,600) – Digna Calle (Vamos Perú)
• AFP withdrawal of up to 3 UIT (S/15,450) – Víctor Cutipa (Peru Bicentennial)
• AFP withdrawal of 50% of funds – Elías Ávalos (Vamos Perú)
• AFP withdrawal of 70% of funds – Américo Gonza (Perú Libre)
• AFP withdrawal of 50% of funds for home purchase – Patricia Juárez (Fuerza Popular)
• AFP withdrawal from 3 UIT (S/15,450) – Víctor Flores (Fuerza Popular)
• AFP Withdrawal from 5 UIT (S/25,750) – Jaime Quito
• AFP Retirement from 4 UIT (S/20,600) – Guido Bellido (Peru Bicentennial)
• AFP withdrawal of 25% to pay debts with mortgage guarantee – Melissa Córdova (Avanza País)
• AFP withdrawal of 100% for home purchase – Ilich López (Popular Action)
• AFP withdrawal from 4 UIT (S/20,600) – José Luna (Vamos Perú)
• AFP withdrawal from 4 UIT (S/20,600) – Jorge Luis Flores Ancachi (Popular Action)
• AFP withdrawal from 4 UIT (S/20,600) – Kelly Portalatino (Perú Libre)
• AFP withdrawal from 4 UIT (S/20,600) – Luis Aragón (Popular Action)
• AFP Withdrawal from 4 UIT (S/20,600) – Mariza Taipe (Free Peru)
• AFP withdrawal from 4 UIT (S/20,600) – Flavio Cruz (Perú Libre)
• 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 (Somos Perú)
• AFP withdrawal of 100% of funds in cases of death of the member – Digna Calle (Vamos)
• AFP withdrawal from 4 UIT (S/20,600) – Wilson Quispe (Perú Libre)
• AFP withdrawal from 2 UIT (S/10,300) – César Revilla (Fuerza Popular)
• AFP withdrawal of 90% of funds due to terminal illness – Katy Ugarte (Parliamentary Unity and Dialogue)
• AFP Withdrawal from 1 UIT (S/5,150) – Jeny López (Fuerza Popular)
• AFP retirement in cases of terminal illness or cancer – Germán Tacuri (National Concertation Magisterial Block)
• AFP withdrawal from 4 UIT (S/20,600) – Isabel Cortez
• AFP Retirement of 5 UIT (S/25,750) – Segundo Quiroz (National Concertation Magisterial Block)
• AFP retirement from 4 UIT (S/20,600) – Alfredo Pariona (not grouped).