The AFP 2024 withdrawal is now official!: when could you submit your application and access the first disbursement?

The government of Dina Boluarte promulgated today, April 18, the law that authorizes the withdrawal of up to 4 UITs from the Administrators of pension funds (AFP). As previously recalled, the minister of economy, José Arista had announced that the Executive was not going to observe the project, which is now official.

The next step is the responsibility of the Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS), entity that must determine the operating procedure within a maximum period of 15 days. Below, we detail the approximate dates on which you should submit your application and obtain your first disbursement.

What is the AFP withdrawal request procedure?

In accordance with Law No. 32002, the procedure for the withdrawal of the AFP is the following:

• Members submit their request physically or virtually within ninety calendar days after the regulations of this law come into effect.
• The amount of up to one UIT is deposited every thirty calendar days. The first disbursement occurs thirty calendar days after the request is submitted to the AFP to which the affiliate belongs.
• In the event that the member does not continue withdrawing funds from his or her individual capitalization account (CIC), he or she may request it only once from the private pension fund administrator ten calendar days before the next disbursement.

AFP Retirement 2024: when could you submit your disbursement request?

Because today it was published in the official newspaper A Peruvian man The law that allows the withdrawal of AFPs, the deadlines have been shortened so that you can access the money in your funds. Economist Jorge Carrillo Acosta asks us what would be the date on which the registration of applications would begin.

• May 3 is the deadline for the publication of the operating procedure by the SBS.
• Applications could begin to be sent from May 13. The regulation should provide a deadline for the AFPs to execute the process, which involves establishing a schedule to submit withdrawal requests based on the DNI, creating a link to process the requests, among others.

When would the first AFP withdrawal be executed?

If the dynamics indicated for the AFP disbursement are followed, then the first withdrawal of a maximum of 1 UIT would be taking place on June 12. We show you the approximate dates so you can access the rest of your money:

• First withdrawal of up to 1 UIT begins on 06/12/24 (30 calendar days after the request).
• Second withdrawal of up to 1 UIT begins 07/12/24 (30 calendar days after the first withdrawal).
• Third withdrawal of up to 1 UIT begins on 08/11/24 (30 calendar days after the second withdrawal).
• Fourth withdrawal of up to 1 UIT begins on 10/90/24 (30 calendar days after the third withdrawal).

The deadline to request withdrawals would be August 11, 2024, 90 days after the start of the operating procedure.