The prices of the foods that are part of the basic family basket They have been increasing for a long time and this has caused millions of Peruvian families to be going through a difficult economic situation. In that context, in the Congress of the republic are analyzing the possibility that the contributors to the AFP (Pension Fund Administrators) can again request the withdrawal of a determined amount from their pension fund.
To know the situation, Depor has prepared this article with information on the projects that are currently being analyzed by the country’s authorities and the amounts that each one proposes. Remember that if approved, the withdrawal will depend on the amount of money you have in your pension fund.
When can you request the AFP 2023 Retirement?
There is still no date because Congress is still analyzing whether it will be possible for contributors to make additional withdrawals from pension funds. Remember that they must determine the amounts and armadas, analyzing the consequences.
What proposals have been presented in Congress for the release of the AFP in 2023?
Currently, there are several bills in Congress that propose to allow affiliates to access their funds. Seven highlight the need of the population due to the increase in the cost of the basic family basket, while three that this money can be used to pay debts. Below are the amounts indicated by each one.
- AFP withdrawal of up to 4 UIT (S/19,800)
- AFP withdrawal of up to 3 UIT (S/14,850)
- AFP withdrawal of 50% of funds
- AFP withdrawal of 70% of funds
- AFP withdrawal of 50% of funds for home purchase
- AFP withdrawal of 3 UIT (S/14,850)
- AFP withdrawal of 5 UIT (S/24,750)
- AFP withdrawal of 4 UIT (S/19,800)
- 25% AFP withdrawal to pay mortgage-backed debts
- 100% AFP withdrawal for home purchase.
How to know the balance in your AFP in 2023?
Find out here the amount you have in your pension fund, according to the AFP to which you belong.
How much do they deduct from your salary to deposit it in your AFP?
- 10% of your salary goes to your pension fund (amount depends on salary)
- Commission for AFP administration.
- The discount depends on whether the affiliate is in commission on the flow (between 13.21% and 13.43%) or in the mixed commission (between 11.74% and 12.41%).
Why are the projects that propose the 2023 AFP Retirement still not approved?
The main reason is because the Commission on the Economy, Banking, Finance and Financial Intelligence of Congress, chaired by the parliamentarian of Fuerza Popular Rosangella Barbarán, must place it on the agenda so that she and her work team can analyze each of the projects.
What is the link to carry out the AFP 2023 Retreat?
The proposal is not yet approved, so no link has been shared to complete the process. Remember that the moment it happens, the Government will be reporting on its official networks.
Can you currently request the withdrawal of your AFP?
Yes, thanks to Law No. 30478, affiliates have the possibility of requesting the release of 25% of their funds in order to use it for the initial payment of their first home or to repay the mortgage loan associated with said property. Therefore, if you are considering buying a house or apartment, you can explore this option so that you are not completely dependent on your savings.
How to request the withdrawal of your AFP if you are going to buy a home?
- The contributor must request a mortgage loan in an entity regulated by the SBS (Superintendency of Banking, Insurance and AFP).
- After receiving the pre-conformity document, the person can request the withdrawal of 25% of the pension fund as an initial.
- Now, the AFP evaluates if it meets the requirements and will later indicate whether it approves or not. If everything is fine, then the disbursement will be made in 10 days.
What would happen to Peru’s economy if the withdrawal of the pension fund is allowed?
According to Moody’s, allowing contributors to withdraw a portion of their AFP could affect the government’s rating and credibility and thus also affect Peru’s finances in the long term.