If your relative died, how much money does the AFP give to relatives?

Losing a loved one is never easy, and financial issues can make these difficult times even more complicated. Therefore, if your relative died and was affiliated with any Administrators of pension funds (AFP)it is important that you know that you have the right to be reimbursed for the funeral expenses you incurred.

This is a way to ensure that families can say goodbye to their loved ones with dignity and that it does not represent a blow to personal finances. Below, we will explore in detail what this benefit entails, who is entitled to it, and the requirements to access this financial aid.

If I die and I am from the AFP, how much money does my family receive?

The AFPs In Peru they provide a specific economic benefit to cover funeral expenses. According to the SBS (Superintendency of Banking, Insurance and AFP), this amount is adjusted periodically and seeks to cover a significant portion of the costs associated with funeral services. Currently, it covers expenses of up to S/5,434.20.

To access this money, family members must present certain documentation that proves the death and the relationship with the deceased, as well as receipts that prove the payments were made.

Who is entitled to the funeral expense benefit?

The families of those workers who are in any of the following cases are entitled to this amount:

• Affiliates as active workers.
• Affiliates as disability pensioners.
• Affiliates as retirement pensioners.

Funeral expenses: what are the requirements?

The SBS points out that to receive the funeral expense benefit, family members must meet a series of requirements. Each AFP has an established procedure that must be carefully followed to ensure the delivery of the money. However, it is essential that the person submitting the request is the one who made the payments and, therefore, their name appears on the ballots.. We detail what the documentation is:

• Simple copy of the identity document of the person who made the expense or the legal representative of the company.
• Original of the invoices and/or sales receipts, containing the applicant’s data: names, full surnames and identification document number.
• Original or notarized copy of the medical death certificate or the autopsy certificate or the judicial resolution of presumed death.
• Copy legalized by a notary or certified copy of the death certificate or certificate.
• Copy legalized by a notary or copy certified by the competent authority of the police report, in case of death by accident.

What are the AFPs in Peru?

Peru has several AFPs that manage the pension funds of their members. Among them are Profuturo, Integra, Prima and Habitat. Each one offers different plans and benefits, including funeral plans, and they adapt to the needs of their members.

What is the AFP?

The Pension Fund Administrator is a financial entity that manages the pension contributions of affiliated workers. Its main objective is to maximize the return on these funds to ensure an adequate pension at the time of retirement.