AFP won more than S/491 million in 2024, despite retreats and generate low in -depth profitability of affiliates

Despite the tremors of the seventh withdrawal of savings and generate a profitability Almost null in all types of funds, the four pension fund managers (AFP) operating in Peru (habitat, integr, profutur and cousin) registered earnings at the end of 2024, from S/491 million 450,000.

This amount It represents an increase of 1.04% more than in the accumulated of 2023 when they obtained S/486 million 399,000, according to data from the Banking, Insurance and AFP (SBS) data.

“This result is mainly explained by the increase in gross income (4.2%). That is, the Commissions that the AFPs charge to the affiliates, ”explained the economist Cesar Antunez to the Republic.

“That’s why AFP They are making lobby so that they do not do withdrawals, because their commission depends on the amount administered. When this amount is smaller, minors are the income“He added.

In detail, AFP cousin was the one greater utilities obtained when reaching S/169 million (+7.3%). It is still integrated with S/156 million (+12.2%), Profuturo with S/112 million (its gain decreased 24.1%) and Habitat reported S/53 million (+28.9%).

AFPs do not stop winning by commissions

Only for the Commissionsconcept paid by affiliates to AFP For keeping and making their funds profitable, the entities earned S/1,186 million, upper amount at 4.21% compared to S/1,138 million in 2023.

The commissions continue to be the main source of income for AFPs. These amounts are charged to affiliates every month, regardless of whether the funds administered generate profits or losses. These commissions are calculated depending on the flow (the monthly salary of the affiliate) and the balance (the total amount of the fund).

“AFPs will not have a loss because they always have a fixed commission. The current scheme is not efficient, It does not give incentives to generate greater profitability. Lose or win, they charge the commission. If they generate a negative profitability, the affiliate should not pay a commission, ”said Antunez.

The AFP that registered the highest commissions is AFP Integra by reporting S/387 million, more than in 2022 (S/359 million). It follows AFP cousin which reported a commission of S/372 million, while Profuturo reached S/276 million and Habitat registered S/150 million.

AFP: Low Fund Profitability

The real profitability, which considers the impact of inflation and measures the true purchasing power of the funds, was 4.36% 12 months in the Fund 0 (Conservative and almost null risk, where they are 65 years old). In the same period, the Fund 1 (also conservative, destined for 60 -year members or close to pension) -0.6%.

He Fund 2where most affiliates are registered, registered a real profitability of 2.24%. “If you take a term deposit rate that pays between 6% and 7%, compared to what AFP offers in a year, I am losing money,” he said.

“The profitability of the stock exchange until December 16 was in 14%. If the AFP had invested in the stock market, it would be twice what is paid by fixed time deposit,” he added.

Finally, the Background 3the most aggressive or risky, where young and new contributors are, had a real profitability of -0.64%. In a five -year horizon, Fund yield 1 is -1.11%, Fund 2 records 0.03%and Fund 3 reaches -07%.

However, in the opinion of economist Arturo García Los pension funds They are long -term investment and “what matters the most is the annual average profitability instead of the last year.”

It also points out that the nominal rate should be reviewed (it does not discourage inflation), although it acknowledges that the performance remains lower. “He Fund 1 (1.35%) and Background 3 (1.31%) have been low due to the high volatility of financial markets such as US elections and increases in increasing measures duty“, said.

He also warned that retreats force AFPs to invest in more liquid and less profitable instruments. “It was a meager profitability in the last year, but in 10 years, its annual average profitability has been 5%,” he said.

Propose new AFP retirement in 2025

Congressman Américo Gonza of the Free Peru bench presented the first AFP retirement project of up to 4 Tax Tax Units (ITU) equivalent to S/21,400.

In the foundation of your proposal, the objective of the initiative to use these funds is to mitigate the effects of cost of living and the low economy.

In his trade, he adds a different argument in contrast to other scenarios of AFP retirement as is the current current problem of the criminal situation. “The increase in the crime rate generates uncertainty and closing businessmaking the highest cost of living every day, ”he said.