After the recent approval of the withdrawal of funds from the Pension Fund Administrators (AFP) in Congress, many people are wondering what the next step is to request and access up to four tax units (ITU), equivalent to S/20,600, in order to mitigate the impact of the economic crisis.
The withdrawal, the seventh of its kind since the start of the pandemic, has generated diverse opinions, but it was a request from thousands of Peruvian citizens who demand access to their pension fund. Below, we will clarify all doubts about this law, what is missing for it to be enacted, possible schedule, and more, so that you do not have problems when requesting your money.
Who will be able to withdraw up to S/20,600 from their funds?
He Withdrawal of up to S/20,600 from the AFP will be available to all affiliates, which includes those who are active or not in the workforce. This benefit seeks to offer economic relief to those who have been directly affected by the economic crisis.
What would be the AFP 2024 withdrawal schedule?
The schedule established by law indicates that withdrawals will be made in four tranches: the first, 30 days after approval of the request. This scheduled disbursement seeks to facilitate an orderly distribution of funds, thus avoiding significant negative impacts on the financial market and the country’s economy.
- First part: up to a UIT (S/5,150) that would be delivered 30 days after the request is sent and approved.
- Second part: up to a UIT (S/5,150), 30 days after the first delivery of money is made.
- Third part: up to one UIT (S/5,150) 30 days after the second delivery.
- Fourth part: up to one UIT (S/5,150) 30 days after the third delivery.
AFP Withdrawal: when would payments begin?
On Friday, April 12, it was sent to the Executive power the signature of the law that allows the withdrawal of funds from the AFP. From there, President Dina Boluarte has up to 15 business days to enact the law or return it to Congress with observations. If enacted before May 6, it will go into effect the next day.
The Superintendency of Banking, Insurance and AFP (S.B.S.) will have another 15 business days to draft the necessary regulations. If this entire period is usedthe release of funds could begin in the second half of Mayeither.
What has the Executive said about the withdrawal of AFP?
José Arista had previously expressed his disagreement with the retirement of the AFP, as he pointed out that there would be a loss of profitability for members. When the bill was approved in the Economy Commission, the minister once again spoke out on the issue with a little more caution.
“It has just been approved by the Economy Commission. All the potential consequences that this decision could have will be evaluated with them. I could not anticipate now what actions could be taken because the decision is not in the hands of the Executive, but rather the legislature,” explained the head of Economy.
How much do I have accumulated in my AFP?
To find out the accumulated balance in their pension fund, members can consult directly on the web portals of their respective AFPs. This information is crucial to making informed decisions about withdrawing your funds and properly planning your financial future.
- AFP Integra: Click on the following link www.afpintegra.pe/iniciar-sesion to see the history of your contributions.
- AFP Premium: Enter this link https://www.prima.com.pe/wcm/portal/PrimaAFP/inicio and in ‘My account’ enter your ID number and password.
- AFP Habitat: If you want to check how much you have in your fund, click here: www.afphabitat.com.pe/mi-cuenta.
- Profutur AFP: You can go to https://enlinea.profuturo.com.pe/zonaprivada/login to check your account status.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
