After that between 2020 and 2021 the Executive and Legislative Power authorized extraordinary withdrawals of pension funds for members of the Private Pension System (SPP), this year the Congress of the Republic would seek to approve a new availability of AFP funds.
And it is that, In just 16 days, at least three bills have been entered that seek to release the funds, which are promoted by congressmen from the Podemos bench.
Proposals
Among the legislative initiatives presented, the proposal that seeks to authorize the withdrawal of up to 50% of AFP funds for the purchase or amortization of a first property stands out.
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Daniel Paniura, lawyer of the labor area of the study Philippe Prietocarrizosa Ferrero DU & Uria, explains that currently the affiliate is empowered to withdraw his fund for the purchase of a first property, but only up to 25% can be disposed of, Therefore, this proposal seeks to allow up to 50% of the funds accumulated in your Individual Capitalization Account to be withdrawn.
Likewise, the initiative seeks to give the green light so that contributors can withdraw their funds so that credit debts are paid.
“This aspect is being equated so that people can withdraw 50% and allocate them to pay the debts they have in the financial system. This is quite dangerous,” Paniura commented.
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The other two initiatives presented seek that affiliates can withdraw up to S / 18,400 of their funds (4 UIT). The difference between the proposals lies in the fact that one would only benefit those who have not made contributions for at least three previous consecutive months. The other does have a general scope, with the exception of those that qualify the Early Retirement Scheme for Unemployment.
For Paniura, these proposals would affect pension savings, however, he considers that since we are already in an economic recovery, this benefit can be limited for those who really need this money.
“The availability should be given for cases in which there are people who have lost their jobs due to the pandemic context, who are not receiving economic income and for these people it may be justifiable,” said the labor worker.
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For its part, Jorge Guillen, associate professor at ESAN, points out that, although the initiative could be justified in some exceptional cases, It is no longer necessary that more withdrawals be enabled, as they are populist measures.
Given this, the teacher exhorted that, instead of proposing measures that seek to release funds, the congressmen should already be proposing initiatives for a comprehensive reform of the pension system.
They propose free availability of the CTS for all of 2022
congressman Jose Luis Elias de Podemos has proposed that the workers can once again have 100% of the deposits of the Compensation for Times of Service (CTS) throughout 2022.
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As recalled, this measure was already in force until December 31 of last year; however, with this proposal it is sought again to give this possibility to workers to make use of their CTS.
For Jorge Guillén, this initiative could indeed be viable, taking into account that not much money is released; however, it recommends that you put locks on it, such as only making one-time withdrawals.
reactions
Daniel Paniura, labor lawyer
“People who are unemployed and finally need it are not even being considered, because the structure of the norm they are proposing is a retirement regardless of whether you have a job or not.”
Jorge Guillen, professor at ESAN
“This type of initiative does not help, a well-thought-out reform would have to be carried out with a technical team to improve coverage, pensions and the scheme of commissions and costs, but not to go easy”.
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