In 2023, the people who work in a micro, small, medium and large company and who receive CTS (Compensation for Time of Services) still have the possibility to withdraw a part or the total amount of that deposit to use that money in the payment of loans or perhaps to start a business.
But how long will that be possible? Is there a minimum amount? What are the steps you must follow to complete the process? Among other questions, there are some that collaborators probably have. Therefore, Depor has prepared an article to help you solve them.
When do you make the next CTS deposit?
The companies deposit the CTS twice a year, the first in May (already completed) and the following in November (15 of that month is the last to do so). Remember that the amount may vary, since it depends on your time in the company and the salary you receive.
How long can you withdraw your CTS?
The last day to withdraw the CTS is the December 31, 2023. Remember that if you resigned or were fired, you do not need to rely on the norm to carry out this process. Likewise, after that date, workers will be able to draw their CTS if they have accumulated the excess of four salaries.
What is the amount you can withdraw from your CTS?
Currently, there is no specific amount that workers can withdraw. Actually, the amount depends on the balance you have in the account and the money you need to dispose of. Remember that as long as the law remains in force and you have a balance in your account, you can withdraw the amount you want and also as many times as you want.
What do you need to withdraw your CTS?
This procedure can be done in person or online (through the bank’s app). To choose the right one you must take into account the amount you want and also the bank where your money is located.
face-to-face
Go to the bank where you have your CTS account and use its ATMs or go to the window if the amount is greater than 2,500 soles. Remember that to carry out the process with an advisor you must bring your ID and the account card.
From a website or app
Download the app of the bank where your money is and look for the alternative transfer between accounts. You should know that if the money will be sent to another bank, they will probably charge you a commission that will be deducted from your compensation for time of service. To carry out the procedure on the web, you only need to enter the page of the bank.