El Peruano (03.12.2020) Law N ° 31068 approved on November 18 authorizes that people who have not worked on the payroll in the last 12 months will be able to withdraw up to four tax units (UIT), that is, 17,200 soles. The first deposits would be made before January 9, 2021.
Law N ° 31068 approved on November 18 authorizes that people who have not worked on the payroll in the last 12 months will be able to withdraw up to four tax units (UIT), that is, 17,200 soles. The first deposits would be made before January 9, 2021.
12/03/2020 Law N ° 31068 authorizes a retirement of pension savings of up to 17,200 soles.
The first deposits to comply with Law N ° 31068, which authorizes a retirement of pension savings of up to 17,200 soles, would be made before January 9, 2021, said the deputy superintendent of AFP of the Superintendency of Banking, Insurance and AFP ( SBS), Elio Sánchez.
He explained that the regulations, approved by the regulatory entity on Saturday, November 28, establishes that withdrawal records begin on the 9th of this month, and hence the term for the first withdrawal is up to 30 calendar days.
“The law provides that there is, once the request is made, a period of 30 days to receive the first part of the money. We established that this is a maximum term, that is, it could be deposited earlier ”, he stated during the program Economía para todo, of Andina Canal Online.
Process
He recalled that the law approved on November 18 details that people who have not worked on the payroll in the last 12 months will be able to withdraw up to four tax units (UIT), that is, 17,200 soles. This amount will be delivered in three parts.
In the case of workers who did not work in September of this year, they will be able to withdraw - for one time only - up to one tax unit (UIT), that is, 4,300 soles.
"There is a group of people with an oncological diagnosis who will be able to remove 4 UITs in a single army, but for them the Ministry of Health published a regulation," he stressed.
Furthermore, employers were identified who withheld pension contributions from their workers and deposited them in an extemporaneous manner, which could have altered the withdrawal of funds in the AFPs.
He clarified that the regulation allows workers not to be affected by untimely contributions.
On the other hand, Sánchez reported that the funds of the Private Pension System (SPP) have registered, from their creation to date, a nominal return of 11%.
"We have a nominal profitability of around 11%, if we consider from the beginning of the system and discounting inflation of approximately 7% in that period," he said.
He asserted that the October contributions to the AFP must prove that the withholding was made in September of this year.
"If not, the qualification for retirement is not affected," he added.
“After the falls in profitability in February and March due to the start of the pandemic, many workers wanted to go to fund 0, but it would have been a mistake; between April and October fund 0 grew 2% and fund 2 reached 20% ”, he said.
Better decisions
The AFP deputy superintendent advised SPP affiliates to think carefully about retirement and further evaluate short-term decisions.
"We agree with helping people who today, due to the pandemic, have needs and urgencies but it is also important to think about old age, because at this stage the productivity of any worker drops and, therefore, the level of income ”, He pointed.
“I see a lot of optimism in young Peruvians and they think that the withdrawals that are applied will be recovered in the course of the next few years. Unfortunately, I tell you that these withdrawals are going to impact on your pension anyway, ”he emphasized.