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Last Wednesday, October 4, the Congressional Committee on Economics, Banking, Finance and Financial Intelligence discussed the possibility of contributors. Administrators of Pension Funds (AFP) They can withdraw fresh money up to 4 UIT in their fund. During the working group meeting, the pros and cons of the new issue of contributory pension were put on the table. Many people already believe that they can access this advantage, however, this is still not possible, we tell you everything you need to know in this note prepared by us at Depor.

When will the money be released from my funds?

There’s no date yet because Congress is still studying whether it’s possible for contributors to take more money out of the pension fund. Remember that they need to determine size and weapons, and analyze possible outcomes.

The proposal has not yet been approved, so no link has been shared to complete the process. Remember that when that happens, the government will report on its official networks.

Under what mode can I request withdrawal of my AFP?

Yes, Act no. Thanks to 30478, members have the opportunity to request the release of 25% of their AFP funds for a down payment on their first home or to repay the mortgage loan associated with that home property. . So, if you are considering buying a house or apartment, you can explore this option so that you are not completely dependent on your savings.

When did you discuss plans to withdraw up to 4 UITs from AFP 2023?

Due to the insistence of various members of parliament to discuss the possibility of new withdrawal of up to 4 UIT from their funds to Pension Fund Administrators (AFP), the Intelligence Congress held a debate on initiatives in the Economic Commission, Banking, Finance and Finance on Wednesday, October 4.

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After the meeting, it was decided not to take any decision on releasing the pension fund. However, Economy Minister Alex Contreras highlighted that there may be approval regarding allowing contributors to use their pension funds.

Contreras pointed out that in order for a release from the AFP to occur, it should be more specific about potential beneficiaries. For this reason, after the debate, Cesar Revilla, chairman of the Economic Commission, indicated that a new proposal to withdraw the pension fund would be sent no later than next Tuesday.

What are the plans for the release of AFP?

Currently in Congress 14 bills Allows members to access their funds. Some point to the increase in the cost of the basic family basket as a result of the population’s need, while others point out that this money can be used to pay off debts. Below are the indicated amounts for each.

  • Withdrawal of AFP up to 4 UIT (S/19,800) – worthy street (We can Peru)
  • Withdrawal of AFP up to 3 UIT (S/14,850) – Victor Kutiba (Peru Bicentennial)
  • 50% withdrawal of AFP funds – Elias Avalos (We can Peru)
  • Withdrawal of 70% of AFP funds – American Gonza (Free Peru)
  • AFP Withdrawal of 50% Finance for Home Purchase – Patricia Juarez (Popular Force)
  • AFP Retreat 3 ITU (S/14.850) – Victor Flores (Popular Force)
  • AFP Retreat 5 ITU (S/24,750) – Jaime Guido (not grouped)
  • AFP Retreat 4 ITU (S/19,800) – Guido Bellito (Peru Bicentennial)
  • 25% AFP withdrawal to repay loans with mortgage guarantee – Melissa Cordova (Country Developments)
  • 100% AFP withdrawal on home purchase – Ilyich Lopez (popular action)
  • AFP Retreat 4 ITU (S/19,800) – Jose Luna (We can Peru)
  • AFP Retreat 4 ITU (S/19,800) – Kelly Portalatino (Free Peru)
  • AFP Retreat 2 ITU (S/9,950) – Second Mandallo Cubas (Free Peru)
  • AFP Retreat 4 ITU (S/19,800) – Jorge Luis Flores Ancachi (popular act)
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How do I know how much money is in my AFP in 2023?

To find out the amount you have saved in your pension fund, according to the AFP you belong to, you need to activate your account at one of the following links:

How do I know which AFP I am affiliated with?

If you don’t know which AFP you are affiliated with, don’t worry because we will show you step by step how to get this important information:

  • to login .
  • Go to “Inquiries and Procedures” section. If you don’t have an account, click “Register”, but first read the terms of use and if you agree, accept them and click “Next”.
  • Enter your ID number and email. You will receive a verification code after which you can activate your account.
  • Once you’ve registered and accessed your username and password, choose the “Retirement Status Report” option and that’s it.
  • If you are a foreigner, click on the relevant option that appears in point 3.

What are AFPs?

Pension Fund Administrators (AFP) are private entities responsible for managing the financial resources earmarked for pensions within the framework of individual accounts. These companies were born in 1993 and operate in the Private Pension System (SPP) sector.

AFPs play a significant role in providing benefits in the form of pensions covering areas such as pension, disability and survivor protection. Additionally, they play a role in assisting with funerals.

How much discount do I get for depositing into my AFP?

  • 10% of your salary goes towards your pension fund (amount depends on salary)
  • Commission for AFP Management.
  • The discount depends on whether it is on Flow Commission (between 13.21% and 13.43%) or Blended Commission (between 11.74% and 12.41%).
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What is the difference between ONP and AFP?

Choosing between the Pension Fund Administrator (AFP) and the Pension Normalization Office (ONP) in Peru is an important decision because the economic future of workers after their retirement depends on it.

In the AFP scheme, the amount of pension received is influenced by two factors: the amount of savings accumulated throughout one’s working life and the profits generated by the executives’ investments. Here, the responsibility falls on the individual to manage their contribution and the way they invest their funds.

Meanwhile, the ONP model takes a different approach. Here, workers’ contributions are added to a common fund that serves as a source of pension for multiple beneficiaries. But there is one very important thing to keep in mind: individual contributions do not generate profits, which means no additional increases.

This difference directly affects the amount of pension that workers can expect. Those who opt for AFP have the opportunity to leverage their savings and grow them; Those who opt for ONP will get a pension determined only by the amount contributed.

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