AFP Retirement: when will the official schedule to access up to S / 17,600 begin to apply?

The pension fund administrators (AFP) have already revealed the official schedule so that affiliates can access the withdrawal of up to S / 17,600 from their accounts, a measure that will take effect from this week.

The announcement was made hours after the Superintendency of Banking, Insurance and AFP (SBS) will publish the operating regulations for the withdrawal of funds of up to 4 UIT.

According to the AFPs, the schedule has been prepared based on the last digit of the National Identity Document (DNI) of the affiliates, which is the following:

SIGHT: AFP: this you should know to make the withdrawal of up to 17,600 soles from the pension fund effective

  • If your ID ends in 0, letter or another, you can request the withdrawal on May 27 or 28
  • If your ID ends in 1, you can request the withdrawal on May 31 or June 1
  • If your ID ends in 2, you can request the withdrawal on June 2 or 3
  • If your ID ends in 3, you can request the withdrawal on June 4 or 7
  • If your ID ends in 4, you can request the withdrawal on June 8 or 9
  • If your ID ends in 5, you can request the withdrawal on June 10 or 11
  • If your ID ends in 6, you can request the withdrawal on June 14 or 15
  • If your ID ends in 7, you can request the withdrawal on June 16 or 17
  • If your ID ends in 8, you can request the withdrawal on June 18 or 21
  • If your ID ends in 9, you can request the withdrawal on June 22 or 23

Steps to register the application

Enter www.consultaretiroafp.pe. Then you need to perform the following steps:

  • Select the type of identity document.
  • Enter the document number.
  • Enter the check digit.
  • Enter your date of birth
  • Click on “I am not a robot”.
  • Click on “consult”.

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Procedure to withdraw up to S / 17,600

The withdrawal schedule has been determined as follows:

  • First disbursement of up to 1 UIT (S / 4,400): Within a maximum period of 30 calendar days, computed from the date the request was submitted to the AFP.
  • Second disbursement of up to 1 UIT (S / 4,400): Within a maximum period of 30 calendar days, computed from the date of the first disbursement by the AFP.
  • Third disbursement for the remainder of the requested amount up to 2 UIT (S / 8,800): Within a maximum period of 30 calendar days, computed from the date of the second disbursement by the AFP.

The value of the UIT to be taken into account for the optional withdrawal is that which is in force on the date of submission of the request by the affiliate to the AFP. It is currently equivalent to S / 4,400.

The AFPs will disclose on their website or that of the union that represents them (AFP Association) all information of a general nature and on the status of the affiliate process.

SIGHT: AFP Withdrawal: When will the first disbursement of the requested contributions be made?

The companies will also be responsible for carrying out judicial or conventional withholding only with respect to those pronouncements derived from maintenance debts, up to a maximum of 30% of the amount withdrawn in each army.

Who applies to this retreat in 2021 and who does not?

It is estimated that some 5’623,000 members of the Private Pension System (SPP) will be able to apply. However, according to the SBS, those who qualify to access the Early Retirement System for Unemployment (NEw).

In addition, it was reported that the funds withdrawn maintain their status as intangible, except for those judicial withholdings for maintenance debts, up to a maximum of 30% of the amount withdrawn.

Therefore, the procedure established by the SBS indicates that the fund managers must review the accounts to evaluate the income from April 2020 to March 2021, considering the cut-off date of April 30, 2021, to know if they access the REJA.

The REJA is a special retirement scheme created for people who are unemployed that allows them to access 95.5% of their pension fund. To apply for this type of retirement you must be 50 years old if you are a woman or 55 years old in the case of men. Also, you must be unemployed for 12 or more consecutive months. This period is counted from the month prior to submitting your application.

If at the time you were officially unemployed, but you had fourth category income, that is, as an independent worker, these cannot have been higher than 7 UIT or S / 30,800.

SIGHT: AFP Withdrawal: Who will be able to request the withdrawal of the S / 17,600 as of May 27?

Retirement for citizens abroad

The AFPs will be responsible for establishing the communication protocols that allow them to identify the requesting holder who is abroad or is physically unable to enter the request for withdrawal of funds through the channels and formats that are enabled for this purpose.

Said protocols must be disseminated by the AFPs, prior to the start date of the submission of applications, on their website and in other means of dissemination that they deem necessary.

MORE ABOUT AFP

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