Minister José Arista speaks out against a new withdrawal of the AFP: “it is a bad decision for Congress to insist”

The Minister of Economy, José Arista, spoke out against Parliament authorizing new withdrawals of funds from the AFPs, since he considered that it could negatively affect pensioners and the economy in general.

In an interview with RPP, he considered that “it is a bad decision by Congress to insist on more withdrawals because in the end, I believe that of 10 pensioners, eight no longer have pensions.” He added that this measure “affects the capital market and the development of bonds in the Peruvian market.”

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Since 2020, Parliament has authorized six withdrawals from AFP pension funds, amounting to a total of S/ 90 billion. According to figures from the Superintendency of Banking, Insurance and AFP (SBS), 2.3 million members no longer have savings in their Individual Capitalization Accounts (CIC).

As is known, Parliament is debating a bill that seeks to authorize a new withdrawal from the AFP of up to four Tax Tax Units (UIT), that is, up to S/ 20,600.