AFP and CTS Retirement 2024: which of the two would be delivered first and from when could it be accessed?

Workers are eagerly awaiting the arrival of the month of June to access the withdrawal of their money accumulated in the Pension Fund Administrators (AFP) and the Compensation for Time of Service (CTS), after the approval of two regulations in Congress that authorize these disbursements.

As is public knowledge, since Monday, May 20, the registration of requests for the release of up to 4 UIT (S/20,600) of AFP funds begins, while the law authorizing the withdrawal of 100% of The CTS is still pending observation or promulgation by the Executive Branch. Next, find out what dates workers will be able to access these disbursements and which will be the first to be deposited.

AFP and CTS Retirement 2024: which of the two will I be able to access first?

According to the schedule published by the AFP Association, members of the Private Pension System will be able to submit their disbursement requests from Monday, May 20, according to their last digit of their DNI. In this regard, the Superintendency of Banking, Insurance and AFP (SBS) specifies that the first withdrawal would be effective no later than Friday, June 14, about 20 days after the first registration.

On the other hand, the law authorizing formal workers to release 100% of their CTS until December 31, 2024 is in the hands of the Dina Boluarte government, which has not observed or published it in the official newspaper El Peruano. The maximum period that this power of the State has to pronounce expires on Friday, May 24.

If it is subject to a review, the rule must return to the Labor and Economy commissions of Congress for subsequent debate and approval at the insistence of the Plenary. But, if this is promulgated in the legal regulations bulletin, it will come into effect the next day, as happened in 2021 and 2022.

According to the only final complementary provision, the Ministry of Labor and Employment Promotion must regulate the standard within a period of no more than 10 days. In that sense, Withdrawals could be made in the first days of June and before the initial disbursement of private pension funds that would begin on Friday, June 14. However, it must be taken into account, as indicated by the SBS, that said release of the AFPs could be carried out before.

Check the AFP Retirement schedule HERE 2024

The Association of Pension Fund Administrators (AAFP) published the official schedule for AFP members to register their applications starting Monday, May 20. Next, write down all the dates according to the last digit of your ID:

• If your ID ends in 1, register your withdrawal request on May 20 and 21, and June 18.
• If your ID ends in 2, register your withdrawal request on May 22 and 23, and June 19.
• If your ID ends in 3, register your withdrawal request on May 24 and 27, and June 20.
• If your ID ends in 4, register your withdrawal request on May 28 and 29, and June 21.
• If your ID ends in 5, register your withdrawal request on May 30 and 31, and June 24.
• If your ID ends in 6, register your withdrawal request on June 3, 4 and June 25.
• If your ID ends in 7, register your withdrawal request on June 5 and 6, and June 26.
• If your ID ends in 8, register your withdrawal request on June 10 and 11, and June 27.
• If your ID ends in 9, register your withdrawal request on June 12 and 13, and June 28.
• If your ID ends in 0, letter or other, register your withdrawal request on June 14 and 17, and July 1.
• Between July 2 and August 17, register your request in no established order.

When does the CTS payment start?

Compensation for length of service is a benefit that is deposited twice a year and that serves to protect workers registered on the payroll against future contingencies such as dismissals or resignations. According to the National Superintendency of Labor Supervision (Sunafil), employers have until May 15 of this year to deposit this amount, which is equivalent to an annual remuneration and is paid in two parts. Below, find out the respective semester period:

1. From November 1 to April 30: May deposit.
2. From May 1 to October 31: November deposit.