What did the AFP say after the approval of the withdrawal of up to 4 UIT of funds?

After the approval of the withdrawal of funds from the AFPs for up to an amount of S/20,600 (equivalent to 4 UIT), various companies have issued statements in this regard. In this context, companies such as Habitat, AFP Integra, Prima and Profuturo have expressed their positions.

Below, we present the statement of each of the Pension Fund Administrators (AFP) that operate in Peru, along with the steps to follow after the approval of this withdrawal.

AFP Habitat

Through its social networks, the company informed its affiliates about the withdrawal of funds for up to 4 UIT. Along these lines, he mentioned that “The Executive Branch has 15 business days to review the bill.” “Once the law is approved and published, the Superintendency of Banking, Insurance and AFP will publish the operating procedure that the AFP must follow”he added.

On the other hand, the company stated that, as soon as the information is available, it will be communicated in a timely manner regarding the step-by-step process for withdrawing retirement funds.

AFP Premium

For its part, Prima AFP has detailed the steps to follow after the approval of the withdrawal of AFP funds in the Plenary Session of Congress. They indicated that, if the Executive Branch observes the law, Congress has the option of approving it upon insistence.

Profuture

Along the same lines, Profuturo provided updated information on this approval of the withdrawal of funds from the AFPs. In his official communication, he highlighted that the evaluation, approval and promulgation of this law by the Executive has a period of up to 15 business days. Likewise, they invited citizens to stay informed through their digital channels.

AFP Integra

The entity emphasized that AFP funds cannot yet be withdrawn. “Although the signature of the law has already been approved by Congress, the Executive Branch has up to 15 business days to review it,” he declared on his social networks.

What would the AFP retirement disbursement schedule be like?

1. Start of first withdrawal (up to 1 UIT): 07/03/24 (30 calendar days after request).
2. Start of the second withdrawal (up to 1 UIT): 08/02/24 (30 calendar days after the first delivery).
3. Start of the third withdrawal (up to 1 UIT): 09/01/24 (30 calendar days after the second delivery).
4. Start of the fourth withdrawal (up to 1 UIT): 10/01/24 (30 calendar days after the third delivery).

According to the financial expert, Jorge Carrillo Acosta, the deadline to request withdrawals would end on September 1, 2024, which corresponds to 90 days after the entry into force of the operating procedure.

AFP withdrawal: who is eligible to access up to S/20,600?

The approved legislative proposal will allow all members of the Private Pension System (SPP) to make an extraordinary and optional withdrawal of part of their accumulated funds, without exceptions. However, affiliates must adhere to the process and schedule established by the Superintendency of Banking, Insurance and Private Pension Fund Administrators.