Monday, March 4, 2024

3 requirements to access early retirement in Peru | ONP | AFP | Pension System | eCONOMY

In our country, the retirement age is 65 years, a time when working life usually ends after contributing a lot of time to the Peruvian pension system. However, that has changed since Law No. 31332 was enacted in 2021 so that members of Pension Fund Administrators (AFP) get access to Early Retirement Regime (REJA) from 50 years old.

For this reason, it is important that those insured in the Private Pension System (SPP) know that there are a series of requirements to access this benefit that allows them to generate regular income and fulfill the condition of retired in all aspects. Next, find out which modalities exist and write down all the steps to apply for them.

What is early retirement?

the early retirement allows the insured to access the benefit before the ordinary age (65 years), as well as to ease the economic burdens of those who are unemployed and do not receive financial subsidies from the State. Likewise, this economic benefits It is very helpful to solve family problems that arise due to the lack of adult presence at home or to enjoy more time with loved ones.

In this way, AFP members from the age of 50 can request to withdraw 95.5% of their total fund or part of it and, in this way, have access to retirement with the remaining balance. If the first of them is chosen, the remaining 4.5% will remain for coverage for the benefits provided by EsSalud.

What are the methods of early retirement and the requirements to access them?

According to the law establishing the Special Early Retirement Regime, there are three ways. To access any of these, these requirements must be met:

  • Ordinary early retirement: You must be over 50 years of age and the pension fund must be equal to or greater than 40% of the average of the last three salaries of the applicant member. Also, you must have at least 72 months of contributions in the last 120 months before claiming the additional benefit.
  • Early retirement due to unemployment: Those who wish to access this REJA modality must be at least 50 years of age and less than 65 years of age, as well as unemployed for a period greater than or equal to 12 consecutive month before submitting the application.
  • Early retirement for hazardous work: To access this regime, high-risk jobs must be carried out such as underground mining extraction activities, open pits, in mining, metallurgical and steel production centers that are exposed to toxicity, danger and poor health, as man work in civil construction, among others.

How to request early retirement?

Before proceeding with the request for early retirement, you must check your status AFP where you are with. To achieve this, you can call the following numbers according to the administrator to which you belong:

  1. AFP Habitat: (01) 230-2200 (Lima) or 0801-14224 (province)
  2. Press AFP: (01) 615-7272, option 1, (Lima) or 0801-18010 (province)
  3. AFP Integra: (01) 513-5050 (Lima) or 0800-40110 (provinces)
  4. Profuturo: (01) 215-2828 (Lima) or 0800-11434 (province).

After making these questions, you have the possibility to request early retirement on the company’s website. AFP where you belong. Just follow this procedure:

  • Submit your request with your ID and date of birth. Select the early unemployment retirement method and fill in the information requested in the form.
  • Select the bank of your choice to receive your pension or withdraw your funds.
  • Request a quote to find out the value offered by AFP and insurance companies.
  • Check all the information and choose the type of pension that interests you.
World Nation News Desk
World Nation News Desk
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