The Labor Commission of the Congress of the republic approved, this last Tuesday, April 30, the legislative initiative so that companies can cover up to 4% of the contribution to the Pension Fund Administrators (AFP) so that it is not covered by the affiliates themselves. In this sense, it is also stipulated that 1% be paid by the State. Likewise, it occurs within the framework of the reform of the Peruvian Pension System (SPP).
The proposal was supported with 7 votes in favor, 3 against and 1 abstention, which must be admitted in the plenary session of Congress. The opinion states that “in the case of the insured dependent on the public and private sectors, they contribute 9% of their monthly remuneration, the employer contributes 4% of it and the State, 1% of the monthly remuneration.”
In this way, it modifies the contribution rate, which is why its purpose is to make changes in the pension financing scheme, which until now only falls on the employee. Likewise, it was emphasized that commissions should be determined based on the profitability generated by each individual monthly, given that not everyone earns the same.
“The commissions, remunerations or any other concept that fund managers charge for the administration or management of funds must be determined based on the profitability generated for the insured in a monthly period, the characteristics, conditions, particularities and limits will be established in the regulations of the Law”, reads the project.
In this framework, there is an interesting point about the non-contributory pension for adults over 65 years of age, which is based on granting a pension to those who have had minimal income. The pension would reach 50% of the minimum pension, which would represent social support.
Congressional Labor and Social Security Commission is chaired by parliamentarian Pasión Dávila. Photo: Congress
When does the AFP withdrawal begin?
After the approval of the withdrawal of the Pension Fund Administrators (APF), the Superintendency of Banking, Insurance and AFP (SBS) He will be the one who regulates and grants the operating procedure for the disbursement of money, for which he was granted a period of 15 days. Therefore, when this date passes, the pensioners of the different AFP They will be able to request their money of up to S/20,600, which represents 4 UIT.
How many AFPs exist in Peru?
In Peru there are 4 AFPs, they are:
- AFP Habitat: arrived in Peru in 2013 and is currently present in more than 40 countries.
- AFP Integra: was founded on May 19, 1993.
- Prima AFP: was founded in 2005 and is backed by Grupo Crédito.
- Profuturo AFP: was founded in 1993.
Along these lines, the population considering withdrawing their money is urged to have a bank account on hand where the corresponding payment will be paid, in addition to having the data updated within the corresponding applications. AFP and above all, have the password updated to avoid mishaps.
Source: Larepublica
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