Although compensation for time of service (CTS) serves as a support for workers unemployed, the Judiciary indicates that for only one reason they can withhold part of this emergency fund.
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The Judicial Branch of Peru has established a crucial measure that could affect parents with food debts during the withdrawal of your CTS (compensation for time of service). Starting in 2024, 30% of funds withdrawn from banks will be withheld to guarantee compliance with certain judicial obligations.
This measure, announced by the head of the National Judicial Registry, Vicky Távara, seeks to implement a effective mechanism for the protection of the rights of children and adolescents in a situation of economic vulnerability. This effort aligns with the country’s social justice and child protection policies.
If I withdraw my CTS, in what cases can they retain a part of my savings?
The retention of 30% savings CTS will apply exclusively to those parents who have registered food debts. This process will be supervised by the Power of attorney and will be executed through a formal demand for food. The withholding is made with the objective of guaranteeing that the withdrawn funds are used for the well-being of minor children, who have the right to receive financial support from their parents.
It is essential that parents with food debts Please be aware of this provision, as failure to comply with these obligations may result in additional penalties and affect the withdrawal process of your funds. In addition, this measure ensures that the beneficiaries of alimony pensions receive the necessary resources for their development and well-being.
When can I withdraw my CTS?
The withdrawal of the compensation for time of service (CTS) for the year 2024 is designed to facilitate access to these funds, ensuring that members can dispose of their savings in an orderly manner. You can withdraw your CTS starting Monday, May 27, 2024, based on recent approval by Congress and the promulgation of the law by the Executive Branch. This provision will be in force until December 31, 2024, and will allow workers to freely dispose of 100% of the accumulated deposits.
How can I withdraw my CTS?
Below, we attach the steps you must follow to withdraw your CTS starting Monday, May 27.
- Verify your CTS account: First, make sure you know in which bank or financial institution your employer has made your CTS deposits. You can consult your company’s human resources area or review your account statement.
- Access the bank platform: Enter the online platform of the bank in which you have your CTS deposited. Most banks have mobile apps or websites where you can manage your funds.
- Request withdrawal: Within the platform, look for the option to withdraw your CTS. You will not need to submit any special request, but you will need to specify the amount you wish to withdraw. In some cases, you could do it directly from an ATM if the financial institution allows it.
- Deadlines: Starting May 27, 2024, you will be able to make withdrawals from your CTS until December 31, 2024, according to the rules established and approved by the Ministry of Labor and Employment Promotion.
Bachelor in Communication and Journalism from the Peruvian University of Applied Sciences. High interest in analysis related to political and social issues. Experience in internal communications, editing and video production. Regions web editor for La República newspaper.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
