ONP: Two requirements for workers to access a pension of S/ 893

Know the requirement regarding contribution time

One of the main concerns of millions of workers close to retirement is receiving a pension worthy of guaranteeing economic stability and peace of mind after years of work.

In Peru, citizens affiliated with the National Pension System (NPS)who are part of the Office of Pension Standardization (ONP)they must meet a series of requirements to access a pension greater than S/800.

Currently, the maximum amount that retired workers subject to the SNP can receive is S/893, as established.

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There are two minimum requirements that you must meet to be able to obtain the maximum retirement pension of S/893: be at least 65 years old and prove at least 20 years of contributions to the SNP at the time of registering your application at the ONP offices.

It is important to mention that, in mid-2019, the Government approved an increase in pensions, establishing a range from a minimum of S/500 to the aforementioned maximum of S/893. This amount is subject to a 4% deduction for EsSalud.

It should be noted that, according to the information provided by the SNP, the contributions of workers are of a solidarity and intangible nature. In addition, the pension amounts depend on the number of years of contribution and the average of their last effective remunerations as a worker.

SPECIAL PROPORTIONAL RETIREMENT

In the SNP, the special proportional retirement is an alternative for Peruvian workers who have not completed the 20 years of contributions required to obtain a full pension. Those who have accumulated at least 10 years of contributions can also access this modality, receiving a reduced pension instead of a full pension.

It is important to note that the amount of the special proportional pension is calculated based on the average earnings and the number of years of contributions made. Therefore, a longer period of contributions may result in an increase in the monthly pension amount.

However, workers who opt for this option must be aware that, although they will receive a monthly pension, it will be lower compared to the full pension obtained after completing 20 years of contributions.