The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, pointed out that the ideal for reforming the pension system is to opt for a scheme with individual accounts – like that of the AFPs – and with mandatory contributions. “Individual accounts have the advantage that they do not defund the (public) budget, […]
Tag: pension system
What is known about the pension increase for ONP retirees? Beneficiaries and amount for pensioners
President Dina Boluarte and Alex Contreras, head of the MEF, announced on Friday, August 25, an increase in the minimum pension that would benefit more than 600,000 retirees from the Pension Normalization Office (ONP), covered under Legislative Decree 19990. Despite the intentions of the Minister of Economy for this increase to be implemented starting in […]
Pension system reform: Executive prohibits the withdrawal of 95.5% for new affiliates
Within the pension system reform bill sent by the Executive power to Congress, the withdrawal of 95.5% of the funds, currently applied for early retirement for people between 50 and 55 years old, is put to an end. Nevertheless, The proposal prepared by the Ministry of Economy and Finance (MEF) eliminates the possibility of withdrawing […]
Reform of the pension system: they ask Congress to evaluate the Executive’s project by listening to members
The Peruvian Association of Consumers and Users (Aspec), in front of executive branch bill Regarding the reform of the pension system, he considered that this initiative should be evaluated carefully by the Congress of the Republic and listening to the voice of the affiliates, which has not happened until now. For Aspec, the Executive Branch’s […]
AFP withdrawal: in which cases can I use my pension fund and what requirements do I need to meet?
The Pension Fund Administrators (AFP) are private institutions that have spent many years in our country regulating the amounts corresponding to citizens in terms of retirement, disability and survival, as well as burial expenses. In this sense, there are various mechanisms to access the money you have saved in your private pension fund, such as […]
AFP 2023: what is known about a possible seventh withdrawal of funds?
The Second Legislature of the Congress of the Republic came to an end and various bills were shelved. Some of them are those related to the seventh withdrawal of the Pension Fund Administrators (AFP), which were not prioritized by the Economy Commission to become an opinion and achieve their subsequent approval in plenary. In this […]
Joining a pension system would be mandatory from 2025
The Ministry of Economy and Finance (MEF), portfolio that presided over the Multisectoral Commission In charge of carrying out a technical evaluation of the pension system, it made public its proposal to create a new pension system. The initiative is structured around four pillars with the aim of expanding coverage to all Peruvians, as well […]
Germán Alarco: “The (social security) system must be open, not only for the AFPs”
These are key weeks for the future of the pension system in Peru, considering that in Congress the debate of the opinions that seek to reform it is awaited while waiting for the final initiative of the Executive power. In this regard, the researcher Germán Alarco questions the lack of consensus and considers that the […]
AFP Withdrawal 2023: what is known so far about the projects seeking the release of funds?
Four months have passed since the first proposal for a seventh AFP withdrawal was presented. However, to date, the initiative led by Congresswoman Digna Calle is on file without registering any progress in its debate. What is known so far about the others? Projects requesting a new release of funds individual? We tell you here. […]
Chileans “will not tolerate a new failure” in pension reform, warns Boric
Chilean President, gabriel boricwarned this Thursday that Chileans “they will not tolerate a new failure” in the pension reform and therefore urged the opposition to dialogue and advance “with speed, responsibility and commitment” in the processing of a law that solves what it considers a “national urgency”. During the speech of his second public account, […]