S/ 34 million approved to pay ONP recognition bonuses

Government promulgates Supreme Decree

New news about the recognition bonuses of the Pension Normalization Office (ONP). The Government of Dina Boluarte has promulgated Supreme Decree No. 057-2024-EF, which approves the granting of a guarantee of more than S/34 million in favor of the Recognition Bonds of the ONP.

As is known, there are currently three types of these bonds. However, the one that was approved in April 2023 is still pending resolution. In January, the Government filed a lawsuit against the Recognition Bonus Law—which authorized payment to ONP contributors who transferred to the AFP— . The Constitutional Court was expected to resolve this in March.

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The standard issued by the Government approves a guarantee for the Recognition Bonds, Complementary Recognition Bonds y Complementary Minimum Pension Bondswhich will be issued by the Pension Normalization Office (ONP) during 2024.

This would ensure that the amount of these benefits for ONP members is insured for up to S/34 million 311 thousand 283, which the ONP would be preparing for 2024, which are considered to be of three types.

Likewise, it is detailed that the “MEF will approve, by means of a ministerial resolution, the complementary regulations that are necessary for the application of this supreme decree.”

In April 2023, Congress enacted the law that proposed updating the recognition bonus for contributors and former contributors to the Pension Normalization Office (ONP) who moved to the Private Pension System (SPP)from 2002 to 2021. This rule was added to the current recognition bonuses in force for ONP contributors who migrated to the private system (under the recognition bonus law of 1992, 1996 and 2001).

Thus, although this new recognition bonus was approved by insistence with 85 votes in favor, 7 against and 13 abstentions, on April 13, 2023 in the Plenary Session of Congress, the signature of this law was observed by the Executive . Likewise, in January of this year, the Government presented itself to the constitutional Court a claim of unconstitutionality against this law (previously, the Executive had expressed concern given that this measure could harm the fiscal coffers).