For several months now, Congress has been analyzing the possibility of allowing members of the Pension Fund Administrators (AFP) can withdraw their money, as doing so means that their retirement fund will decrease and in some cases may even go to zero.
In fact, so far 17 projects on the subject have been presented and three of that number have been analyzed. Because the year is almost over, many are wondering what is going to happen, fortunately there is already a possible date for the announcement of the ruling.
When would they publish the opinion on the withdrawal of the AFP?
According to the president of the Economy, Banking, Finance and Financial Intelligence Commission of the Congress of the Republic, César Revilla, at the end of November the opinion of the bill that authorizes a new withdrawal from the pension fund would be presented. The delay is because it is a complex project that involves a lot of analysis.
Who would benefit from the new AFP withdrawal?
The Minister of Economy, Álex Contreras, specified that “If there is a legitimate concern that there is a group of people who are not having a good time at the moment, let it be restricted, that withdrawal be limited so that neither the sustainability of the system nor the pension reform is affected.” .
“That it be limited to those who are not working, but not all, because the proposal, as it stands, is that even congressmen who have their pension fund can retire, even a general manager of some company, who earns very well, I could withdraw”he added.
What are the projects presented in Congress for the withdrawal of the AFP?
Currently, there are 17 bills in Congress that propose allowing members to access their funds. So far three of them have been debated without a response from the authorities in charge of analyzing the proposals to decide whether they will allow them or not.
- AFP withdrawal from 2 UIT (S/9,950) – Segundo Montalvo Cubas (Perú Libre) (ALREADY DEBATED)
- AFP withdrawal from 4 UIT (S/19,800) – Guido Bellido (Peru Bicentennial) (ALREADY DEBATED)
- AFP withdrawal of up to 3 UIT (S/14,850) – Víctor Cutipa (Peru Bicentennial) (ALREADY DEBATED)
- AFP withdrawal of up to 3 UIT (S/14,850) and 95% of the fund for terminally ill patients – Edgard Reymundo (Democratic Change – Together for Peru)
- AFP withdrawal from 4 UIT (S/19,800) – Luis Aragón (Popular Action)
- AFP withdrawal of up to 4 UIT (S/19,800) – Digna Calle (Vamos Perú)
- AFP withdrawal of 50% of funds – Elías Ávalos (Vamos Perú)
- AFP withdrawal of 70% of funds – Américo Gonza (Perú Libre)
- AFP withdrawal of 50% of funds for home purchase – Patricia Juárez (Fuerza Popular)
- AFP withdrawal from 3 UIT (S/14,850) – Víctor Flores (Fuerza Popular)
- AFP Withdrawal from 5 UIT (S/24,750) – Jaime Quito (Not grouped)
- AFP withdrawal of 25% to pay debts with mortgage guarantee – Melissa Córdova (Avanza País)
- AFP withdrawal of 100% for home purchase – Ilich López (Popular Action)
- AFP Retirement from 4 UIT (S/19,800) – José Luna (Vamos Perú)
- AFP withdrawal from 4 UIT (S/19,800) – Kelly Portalatino (Perú Libre)
- AFP withdrawal from 4 UIT (S/19,800) – Jorge Luis Flores Ancachi (Popular Action)
- AFP withdrawal from 4 UIT (S/19,800) – Flavio Cruz (Perú Libre)
How to find out how much money I have in my AFP in 2023?
To find out the amount you have saved in your pension fund, according to the AFP to which you belong, you just have to activate your account in any of the following links:
How do I know which AFP my money is in?
If you don’t know which AFP you are affiliated with, don’t worry, since here we show you the step by step so you can obtain this important information:
- Login to Superintendency of Banking, Insurance and AFP (SBS).
- Go to the “Inquiries and procedures” section. If you do not have an account, “Register”, but first read the conditions of use and if you agree, accept them and click “Next”.
- Enter your ID number and an email. You will receive a verification code and after that you can activate your account.
- Once you have registered and can access with your username and password, choose the “Pension situation report” option and that’s it.
- If you are a foreigner, click on the corresponding option that will appear in point 3.
How much do I get a discount to deposit it in my AFP?
- 10% of your salary goes to your pension fund (amount depends on the salary)
- Commission for administration of the AFP.
- The discount depends on whether the affiliate is on flow commission (between 13.21% and 13.43%) or on mixed commission (between 11.74% and 12.41%).