AFP Withdrawal 2024: what documents and banking information do you need to request your money?

In the context of a growing economic need, the Peruvian Government has promulgated the law that enables the process of withdrawal of Administrators of pension funds (AFP). Now, the Superintendency of Banking, Insurance and AFP (S.B.S.) has until Friday, May 3 to publish the operating procedure.

The regulations allow affiliates to withdraw up to 4 UIT from their accumulated fund, although the disbursement will be made in four parts and in each one up to 1 UIT will be released. In addition, the process involves a series of steps and documentary requirements that are crucial to understand to avoid setbacks.

What information do you need to withdraw your AFP?

To request the withdrawal of your AFP It is necessary that you have certain information on hand so that the entire process is easier and faster. Write down everything you need:

• Personal information: It is crucial to have your full name, national identity document (DNI), an active phone number and email address.
• Banks: You need an active bank account and its number to request your funds.
• Secure Access: Make sure you have the web password for your online banking and the digital key for your AFP, you will require these data to carry out online transactions.

AFP disbursement: what comes next after the promulgation of the law?

Once the law is enacted, the Superintendency of Banking, Insurance and AFP (S.B.S.) publishes the operating procedure within a maximum period of 15 calendar days. Finance expert Jorge Carrillo Acosta estimates that withdrawal requests could be registered as early as Monday, May 13.

The regulations for the new withdrawal of funds from the AFPs should establish an ideal period, a schedule in relation to the ID for the submission of applications.

What is known about the pension fund withdrawal schedule?

The withdrawal schedule is published on the SBS website and on the respective AFP portals. It is vital that members review these schedules to know when and how they can proceed with their withdrawal request. Proper planning allows for a smoother transition and avoids unnecessary delays. We show you the possible dates when you could enjoy your money, according to Carrillo Acosta.

• Start of first withdrawal (up to 1 UIT): 06/12/24 (30 calendar days after request)
• Start of the second withdrawal (up to 1 UIT): 07/12/24 (30 calendar days after the first withdrawal)
• Start of the third withdrawal (up to 1 UIT): 08/11/24 (30 calendar days after the second withdrawal)
• Start of the fourth withdrawal (up to 1 UIT): 10/90/24 (30 calendar days after the third withdrawal).

AFP: how do I know how much I have in my pension fund?

To find out the amount accumulated in their pension fund, members can consult their account statement online through the AFP portals or through mobile applications. These platforms also offer withdrawal simulators, which allow you to view the approximate amount that would be received when making the withdrawal under current conditions.

• AFP Integra: enter to see your account statement in this AFP through THIS LINK.
• Profutur AFP: See how much you have in your fund on the next page at THIS LINK.
• AFP Habitat: check your account statementclicking THIS LINK and enter your information.
• AFP Premium: If you want to verify your account status in this AFP, go to THIS LINK. In the part that says ‘My account’, write your ID number and password.

How many AFPs are there in Peru?

In Peru, there are several AFPs that manage workers’ pension funds. Among them are Profuture, Cousin, Integra and Habitat. Each of these administrators offers different plans and benefits, allowing members to choose the one that best suits their financial needs and retirement expectations.

It is necessary for members to have all the pros and cons data so that they can make informed decisions and thus maximize their benefits when receiving their pensions.