AFP withdrawal: SBS approved the operating procedure

The request must be entered in accordance with the channels and platforms established by each AFP

The Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) approved the operating procedure for the extraordinary and optional withdrawal of AFP funds.

According to the resolution, which bears the signature of the superintendent Sergio Javier Espinosa Chiroquehe regulation comes into effect from May 20, 2024and the first disbursement must be made, at most, starting June 14.

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SBS: deadlines for withdrawal of AFPs

Affiliates who wish to withdraw their funds must present a request within a maximum period of 90 dayscounted from the day of its entry into force.

Likewise, he points out that Affiliates who wish to withdraw their request for withdrawal of funds can communicate it to the AFP for only this time up to ten calendar days before the scheduled date for disbursement.

• He first disbursement (up to 1 UIT) It will have a maximum period of 30 calendar days, computed from the date on which the request was submitted to the AFP.
• He second disbursement It may be made within a maximum period of 30 calendar days, calculated from the date on which the first withdrawal was carried out.
• Likewise, the third disbursement It has a maximum period of 30 calendar days from the date of the second withdrawal.
• Finally, the fourth disbursement or, failing that, the remainder of the requested amount has a maximum period of 30 calendar days from the date of the third withdrawal.