How long do you have to enact the 4 UIT law for all members?

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The Executive already has the signature of the AFP retirement law of up to 4 UIT for all affiliates in its hands. How long can it take to enact it? – Infobae/MEF Composition Credit

The AFP withdrawal law of 4 UIT for all affiliates is still awaiting its promulgation by President Dina Boluarte. Recently, the head of the Ministry of Labor and Employment Promotion (MTPE), Daniel Maurate, indicated in the program ‘It is never too late’ on RPP that they were still evaluating the rule that is in the Executive (on April 12, a day after If approved in Congress, the President of Congress highlighted that he had already sent it to the Executive).

“At the time, which will not take long, we are going to make a statement, and surely the President will announce whether it is observed or not. […] Faced with the norm, we are going to look at what the fundamentals are. Let’s see what is inside that has convinced the majority of parliamentarians to approve this law. And we will find reasons that will convince us or not,” Maurate explained without giving much away.

However, the head of the Ministry of Economy and Finance (MEF), José Arista, already announced that the Government will not observe the rule. So we are now waiting for its promulgation. As recalled, there were requests from congressmen for the president to urgently enact the law, as well as representatives of AFP who believed that the Executive would observe the rule (Aldo Ferrini, CEO of AFP Integra was confident in this, and told Gestión that “the Executive has to show responsibility. Now that it is known that the law will be enacted, how long does Dina Boluarte have to decide on this matter?

The Ombudsman has asked Dina Boluarte to observe the seventh AFP withdrawal. – Credit Composition Infobae/Diffusion

After the approval of the seventh AFP withdrawal, of 4 UIT (S/20,600) and all affiliates, last Thursday, April 11, and its sending to the Executive, the following day, President Dina Boluarte has 15 business days to promulgate the law or decide to observe it.

This means that from that Friday, April 12, counting the valid days (not including weekends and May 1), the Executive should promulgate the law no later than Tuesday, May 7.

However, in the meantime, the Executive is still deciding whether it will observe the AFP withdrawal law, which, as is known, has had constant criticism from the Ministry of Economy and Labor. Although, on the other hand, José Luna also revealed that after his meeting with Prime Minister Gustavo Adrianzén, the MEF would have changed its mind.

AFP withdrawal from 4 UITs is on hold. If enacted on May 7, members will be able to have their money in June. – Composition Credit Infobae/Edwin Montesinos/Diffusion

While members wait for the President to finally enact the law for the seventh AFP withdrawal, some are already calculating when the dates would be to submit applications, as well as finally access amounts of up to 4 UIT (S/20,600) from the private pension fund accounts.

This is how the dates would be given, tentatively.

• Maximum on Tuesday, May 7, if the Executive does not observe it, the law would be promulgated
• On Wednesday, May 22, at the latest, the Superintendency of Banking, Insurance and AFP would publish the regulations
• If these deadlines are followed, then on Thursday, May 23, affiliates could begin sending their requests to access AFP amounts.
• Thus, you would have from Thursday, May 23 to Tuesday, August 20 (90 calendar days) to present these requests to access up to 4 UIT (S/20,600) before the corresponding pension administrator.
• According to this, contributors would receive up to 1 UIT (S/5,150) of the amount requested on Saturday, June 22, and the remaining amount every 30 days for each UIT. That is, Monday, July 22, Wednesday, August 21 and Friday, September 20 would be the other dates on the schedule.
• These dates will change, however, if Dina Boluarte decides to observe the law, with which the rule would return to Congress, increasing the dates by a maximum of 15 business days. In this way, applications would only be made in June and the first amounts would be received in August.