Learn how to go from the ONP to the AFP

And what happens to the fund that he had gathered?

It is possible to change pension systems. That is, a user of the Pension Normalization Office (ONP) can go to one Private Pension Fund Administrator (AFP) and vice versa.

One of the main concerns of contributors interested in making this pension fund change is what will happen to the money contributed. For all people interested in changing from an ONP to an AFP, it is important to know that they could lose all of their contributions made so far, in addition to being subject to various restrictions.

CONDITIONS

According to the Association of Private Pension Fund Administrators, if contributors seek to migrate from the ONP to AFPit is necessary to take into account the following points:

– To leave the National Pension System and join the Private Pension System, you must request the recognition bonus from the AFP to which you belong, which has a period of 60 days to review your request and send it to the ONP.

– It is important to compare the pension you receive in the ONP versus the amount in the AFP.

STEPS

In order to migrate from ONP to AFP, the first thing is to disaffiliate from the National National Pension System. To do so and join a private system, you must complete the following steps:

– Go to one of the ONP headquarters with your ID and ask for the attention of an advisor.

– Next, submit your request for disaffiliation and transfer in writing.

– Before disaffiliating, check your contributions to the ONP through your account statement, as it will help you know if you qualify for any of the recognition bonuses.

– Save your proof of disaffiliation that the ONP will give you.

– Then, go to the AFP offices of your choice and sign the membership contract.

– Present your ID at the office along with a copy of the payment slips for the last two months.

– Finally, attach your ONP disaffiliation document.

IF I DON’T QUALIFY?

According to information from the AFP Association, it is possible to migrate from an ONP to an AFP; this option is available to all contributors. However, not everyone has the possibility of accessing the recognition bonus. It is important to be clear that the bonus is essential to be able to transfer the money contributed from one fund to another. Remember that if you do not qualify for the bonus, you will lose all your contributions made to the ONP.

If you have made your contributions to the National Pension System until 2001, it is possible to transfer them to an AFP with the recognition bonus. However, to date, this is the last update on the accessibility of the bonus, promulgated by the Executive. Currently, there is no bonus available for people who have moved from the ONP to an AFP and who have made their contributions for a period of 4 years between January 1, 2002 and December 31, 2020.