Attention! In Peru, the Office of Pension Standardization (ONP) establishes that workers can access retirement from the age of 65. However, there is the option of retiring early from the age of 65. 50 yearsThis alternative may be attractive for those who wish to stop working earlier than usual, although it involves certain conditions and reductions in the amount of the pension.
It is crucial that those who have contributed to the system and are considering early retirement understand the requirements and economic impact of this choice. Below are all the relevant aspects regarding early retirement in the ONP. Take note!
Early retirement ONP 2024: what does this option consist of?
Early retirement in the ONP This is a benefit designed to allow workers who have made contributions for at least 25 years to retire before reaching the age of 65. This system is designed for those who, for various reasons, wish to access their pension early. The requirements and procedure for applying for this benefit are specific and require meeting certain criteria in order to access the benefits.
Early retirement ONP: what are the requirements?
In order to be eligible for early retirement, members must be at least 50 years old and have met the 25-year contribution requirement. It is important to note that this decision implies a permanent reduction in the amount of the pension, which is a crucial aspect to consider before taking this step. It is essential to carefully evaluate the financial implications and plan appropriately to ensure economic stability at the retirement stage.
In addition, those who apply for disability retirement must present a resolution from the National Council for Disability, be at least 55 years old and have contributed for 20 years. To prove these contributions, the presentation of documents such as work certificates, pay slips, settlements of service time and proof of contributions issued by the IPSS or EsSalud, among others, is required.
Before turning 65, ONP retirees can apply for their early retirement pension. Photo: LR/Andina/ONP composition
What happens if I decide to advance my ONP pension?
In the case of retirement, it is generally established that people must retire at 65 years and have at least 20 years of contributions. However, by choosing to retire at the age of 18, 50 yearsthe conditions change significantly. In this scenario, the pension amount is reduced by 4% for each year of early retirement, which is 65 years. This progressive reduction means that if you retire 15 years earlier, your pension could be considerably lower.
Andrés Escalante, director of the Administration and Finance program at UPC, told Andina that while the main drawback of early retirement is the reduction in percentages, which could result in a cut of more than 20% in the pension, it is essential to consider that all of this will be subject to the current ability to generate income in order to ensure a better financial future.
How do I apply for early retirement from the ONP?
The process to request early retirement in the ONP It can be done virtually or in person. If you decide to do it virtually, you must access the onpvirtual.pe platform, select the option “I am contributing” and then choose “I want my pension”. Afterwards, you must complete your personal and contact information. ONP advisors will contact you to follow up on the process.
If you prefer the in-person procedure, the ONP cIt has service centers available from Monday to Friday from 8:00 am to 5:00 pm, as well as in the MAC Centers which operate from Monday to Saturday. It is important to take these options into account in order to carry out the retirement application process properly and efficiently.
Source: Larepublica
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