The Office of Pension Standardization (ONP) establishes a series of requirements for workers to access a Retirement pension. This pension modality is financed under a solidarity scheme, in which the contributions of the affiliates allow the payment of pensions to the retirees. One of the main aspects that determines eligibility to the pension is the time of contribution.
Affiliates must Comply with a minimum of years of contributions To obtain a complete pension or, failing that, a proportional pension. In addition, the amount they will receive varies depending on the years of contributions and the average of their latest registered remuneration.
How many years should I contribute to the ONP to access the minimum S/600 pension?
To access the minimal retirement pension in the ONP, affiliates must meet certain requirements established in Decree Law No. 19990. It is essential to have reached the Minimum age of 65 years and have made contributions for at least 20 years. Without these requirements, it is not possible to receive the full pension.
However, if not reached 20 years of contributions, the SNP contemplates the possibility of accessing a proportional pension if contributions have been made for at least 10 years. To do this, the documentation that provides the contribution time and the labor link with the companies in which it worked were submitted.
How much pension do the ONP retirees receive if they contributed less than 20 years?
In the Pension Standardization Office (ONP), the amount of the pension varies according to the years of accumulated contributions. Workers with 20 years of contributions can receive a maximum pension of S/ 893.00, while the minimum pension is S/ 600.00. These amounts are subject to a 4% discount for Essalud.
On the other hand, those ONP affiliates that have quoted between 15 and 19 years can access a pension of S/ 400.00, and those who are between 10 and 14 years of contributions will receive S/ 300.00. In all cases, it is required to meet the minimum age of 65 years.
EPP early retirement: What is the new age to request it?
According to current regulations, it is relevant to consider that the minimum age to request early retirement in the ONP has been modified for 55 years. This modification gives affiliates the opportunity to access their retirement pension in advance, up to ten years earlier than previously established. It is essential to meet the established requirements to make use of this alternative.
What is the ONP in Peru?
The Office of Pension Standardization (ONP), As an entity responsible for pension management, it plays a crucial role in the Social Security System of Workers in Peru. Through the effective administration of workers’ contributions, the ONP ensures that at the time of their retirement, they can have a pension that ensures them a decent standard of living.
Source: Larepublica
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