The withdrawal of 100% of Compensation for Time of Service (CTS) is now a reality. The Government of Dina Boluarte published this Sunday, May 26, the regulations of the law that authorizes formal workers access to all the money they have accumulated in their accounts until the end of this year.
Supreme Decree 003-2024-TR establishes that citizens registered on payrolls may request from the respective financial entity that the required amount be transferred to the bank account they have available. In this way, more than 6 million workers could benefit from the scope of this law, which covers the second CTS deposit of November and whose objective is to guarantee liquidity to cover their needs.
They publish CTS withdrawal regulations: since when will I be able to access them?
The Ministry of Labor and Employment Promotion published this Sunday, May 26, the regulations of the law that allows workers registered on the payroll to freely dispose of 100% of their CTS until December 31 of this year. This norm bears the signature of the President of the Republic, Dina Boluarte; the head of the Council of Ministers, Gustavo Adrianzén; and the Minister of Labor and Employment Promotion, Daniel Maurate.
Unlike the withdrawal of up to 4 UIT (S/20,600) from the AFP, the free disposal of the CTS can be made from the day following the entry into force of the legal system. This means that access to the accounts of this economic benefit may be requested from this Monday, May 27as happened in 2021 and 2022.
It is worth mentioning that article 4 of the regulations specifies that once the disbursement request is received, “the financial institution makes the transfer to the accounts of the worker indicated, within a period of no more than two business days.” In other words, until Wednesday, May 29.
Until when can I withdraw my CTS at 100%?
According to Law 32027, which authorizes formal workers to freely dispose of 100% of the Compensation for Time of Service (CTS), The maximum deadline to release this economic benefit is until December 31 of this year. As recalled, the Plenary Session of Congress approved this norm with 98 votes in favor, which seeks to cover the basic needs of citizens in the face of the economic crisis in the country.
If you want to know the deadlines in which you will be able to access all of your funds, read the following:
- Workers will be able to make the disbursement request effective from Monday, May 27.
- Within a maximum period of two business days, workers will be able to access their money. That is, Wednesday, May 29.
CTS Withdrawal 2024: what is the procedure?
According to article 4 of the regulations for the withdrawal of Compensation for Time of Service, this is the procedure that formal workers must follow:
- Workers may make these withdrawals, total or partial, of the amount available in their respective deposit account.
- Then, they must request by digital means the corresponding entity to make the disbursement through transfers to the CTS account that they indicate.
- Among the institutions that can order the transfer are companies in the financial system, savings and credit cooperatives not authorized to collect resources from the public or operate with third parties, or electronic money issuing companies.
- Request received disbursement Through transfers, the financial institution makes the transfer to the accounts of the worker indicated, within a period of no more than two business days.
Source: Larepublica
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