AFP Withdrawal: Economic Commission sets start date for discussion on financial release | Economy

There are 11 proposals in Congress that would require the AFP to divest. Photo: Andina

Commission on Economics, Banking, Finance and Financial Intelligence Congress of the Republic It announced that the debate on the withdrawal of funds from the Pension Fund Administrators (AFP) will begin at the end of the parliamentary representation week scheduled for September 25 to 29. That means the debate will begin in October.

Cesar Revilla, president of the aforementioned commission, pointed out that the members of Congress who presented the bill authorizing the new separation from the AFP should support their initiative and respond to the arguments against it. Ministry of Economy and Finance (MEF), Banking Supervision, Insurance and AFP (SBS), and AFP Association.

“Colleagues in Congress will begin to support their bills after the week of delegation, so they will begin to refute the arguments. MEF and other organizations in the opposition. We are going to start the discussion, all topics will be discussed under my leadership,” Revilla said during the last session of the Economic Commission.

The announcement was made by the Congressman of Peru Bicentenario Guido Bellito He welcomed the release of AFP funds on the agenda as it would provide relief to families facing rising food prices.

“A relief measure for families in the economic crisis caused by the increase in the cost of living, the withdrawal of 4 UITs from the AFP. We salute Congressman Revilla for scheduling a debate date for a real commitment to the working people who demand their money,” said Bellito.

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AFP Retirement 2023: How many bills have been submitted so far?

A total of 11 legal initiatives have been issued till date and 5 UIT, 4 UIT, 3 UIT, 50% and 70% of Individual Capital Accounts (CIC) have been released.. In addition, other schemes propose to increase the withdrawal amount for buying property or paying off loans through mortgage guarantees.

  • AFP withdrawal up to 4 UIT (S/19,800) – Digna Calle (Vamos Perú)
  • AFP withdrawal up to 3 UIT (S/14,850) – Víctor Cutipa (Peru Bicentenary)
  • 50% Withdrawal of AFP Funds – Elias Avalos (Vamos Pero)
  • 70% refund of AFP funds – Américo Gonza (Peru Libre)
  • AFP Withdrawal of 50% of Funding for Home Purchase – Patricia Juárez (Fuerza Popular)
  • 3 Withdrawal of AFP from UIT (S/14,850) – Víctor Flores (Fuerza Popular)
  • 5 Withdrawal of AFP from UIT (S/24,750) – Jaime Quito
  • 4 AFP Retirement from UIT (S/19,800) – Guido Bellito (Peru Bicentenary)
  • 25% AFP Cashback on Pay Off Loans with Mortgage Guarantee – Melissa Cordova (Avanza Buys)
  • 100% AFP withdrawal for home purchase – Ilich López (popular action)
  • 4 Withdrawal of AFP from UIT (S/19,800) – Jose Luna (Vamos Perú).

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