:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/QZJNFHY4JFDNPDRSDAOE4BBQPM.jpg "How do I know if I can access the new AFP direct debit?")
From last year to date, up to five legislative initiatives have been presented to the Congress of the Republic whose objective is to authorize the early withdrawal of funds from AFP affiliates.
AFP Retirement 2023: What it takes to materialize a new collection of up to 19,800 soles
Currently, three bills are being promoted by different parliamentary groups. One of them is written by the legislator Digna Calle, from Podemos Peru.
Before the end of the first ordinary legislature of the Annual period of sessions 2022-2023in the Finance Committee of the Parliament It was called for these initiatives to be prioritized “urgently”, so that affiliates can have income to cope with the current economic crisis.
The strongest proposals for its next plenary debate are the legislative project of the deputy Digna Calle which promotes withdrawal of S/19,800 funds from members of the private pension system; while another initiative promoted by the legislator Víctor Cutipa was authorizes the withdrawal of S/14.800.
Withdrawal AFP 2023: 10 keys to know about the proposed withdrawal up to 19,800 soles
Among the proposals promoted by the parliamentary benches, there is also another to collect 14,850 soles from pension funds.
However, if any of these projects are given the green light, not all affiliates would be able to have these resources as most of the funds were withdrawn during the pandemic and they were left with zero sole in their accounts, a- he warned. David Tuesta, former Minister of Economy and President of the Privy Council for Competitiveness.
According to Superintendence of Banks, Insurance and AFP (SBS)between the years 2020 and 2021, the Executive power and the Congress of the Republic authorized five extraordinary retirement savings withdrawal programs for members of the Private pension system.
Minister of Economy for the proposal of the new withdrawal of AFP: “It’s a populist measure”
The Minister of Economy and Finance has questioned a new initiative that aims to allow Peruvians to withdraw their pension funds again up to 19,800 soles (4UIT).
These programs meant, from December 2021, the withdrawal of S/65.942 million from the pension funds which was carried out by 5,691,478 affiliates. This means that 70% of affiliates have totally or partially withdrawn their retirement savings.
And according to the AFP Association, if added to the new amount withdrawn last year with the previous five, from Private pension plan (SPP) S/ 87.962 million left between 2020 and 2022, or 10% of gross domestic product (GDP).
“The withdrawal of funds will lead to less monetary availability and in some cases, users will not have money when they want to retire as they consume their future savings, which implies an expansion of social programs to support the retirees in the future; however, it increases the government’s budget expenditure, the official said. economist and professor at the University of Piura, Brenda Silupú.
According Giovanna Prialé, President of the AFP Associationin an interview for Diario Gestión, indicated that to date, 2.3 million SPP affiliates have no balance in their accounts and therefore would not have the financial resources to face their old age.
And if a new withdrawal is approved in Congress, the Professor ESAN Arturo Garcia provided that 6.5 million contributions would be deducted from the 8.8 million Peruvians affiliated to the PSP, who could dispose of their resources. However, they could not make new releases to those who are close to retirement age.
According to data from the SBSTo date, there are 82,643 contributors between the ages of 56 and 60. In this sense, the AFP Association presented a proposal for a reform of the pension system that would be more profitable and fair for all.
The legislative initiative of the parliamentarian Digna Calle which authorizes the withdrawal of 4 fiscal units (ITU) establishes that the mentioned withdrawal of funds from the individual accounts of the AFP Affiliates it will not apply to those who meet the conditions to access the Special Early Retirement Scheme due to unemployment. In addition, it is specified that this will be of an extraordinary and optional nature.
earn money the withdrawal establishes a schedule of three disbursements. The first includes up to one ITU and will be granted within 30 days of the request made to AFP.
He second disbursementoh –also equivalent to up to one ITU– will have a similar duration, counting the days from the first disbursement. The third will include the rest of the amount whose withdrawal has been requested, and the deadline for it to become effective is also 30 calendar days.
In his request to the Economy Committee of the CongressMP Calle points out that there are more than 8.6 million members of the AFP those who urgently need their money. With this, they would have resources to “face the economic crisis that our country is going through”, underlines the parliamentarian in the letter.