Congress approves new withdrawal of up to S/20,600 from the AFP

With 97 votes in favor, 5 against and 5 abstentions, the Plenary Session of the Congress of the Republic approved this afternoon the seventh withdrawal of up to 4 UIT (S/20,600) from the AFP pension funds.

During its debate in the plenary session, the Fuerza Popular bench proposed that the withdrawal ruling be voted again together with the pension reform project, which had not yet been approved by the Economy Commission. A previous question allowed the debate to continue separately.

Both the Ministry of Economy and Finance (MEF) and the four AFPs that operate in our country (Prima, Integra, Profuturo and Hábitat) have warned that a new withdrawal would lead to the departure of S/34,170 million from the Private Pension System (SPP) , distributed among the 9 million contributors.

The Superintendency of Banking, Insurance and AFP (SBS) also considered that the seventh optional withdrawal of up to 4 UITs from the AFPs would cause some 7 million members to be left without a pension in old age, that is, with zero funds in their accounts. saving.

Withdrawal of 4 UITs from the AFP: debate in Congress

During the previous debate, Congressman José Luna assured that a fund of S/40,000 in the SPP represents a pension of S/175 until the age of 113, but, since his real average lifespan is 85, his family will only receive S/. /78.

“And if he doesn’t have a wife or parents, he only receives S/25. These are numbers, mathematics. That’s why 99% withdraw everything, invest it or put it in a box,” Luna said.

For his part, legislator Américo Gonza considered that the AFPs receive more than S/600 million in commissions each year, under a system that, in his opinion, only serves to later relocate the money to the market through bank loans with high interests.

“It shouldn’t stop there. The AFPs have sold us a great deal to make it grow, when, deep down [previsional]we can see our account statements that month by month the savings decrease,” Gonza said.

A different position is that of the Fuerza Popular congressman, Eduardo Castillo, who asked for a fourth intermission to return to the opinion the reforms that other congressmen decided to present separately.

“Retirement yes, together with a minimum pension. Retirement yes, together with a consumption pension. Retirement yes, together with a performance commission. Retirement yes, together with opening of competition,” said Castillo.