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Peru Advances 8th AFP Withdrawal as Argentina Executes September Pension Boosts

Implementation now awaits presidential promulgation followed by an SBS rule expected within 30 days.

Overview

  • Peru’s Congress approved an extraordinary withdrawal of up to 4 UIT (S/21,400) from private pension funds, to be delivered in four monthly payments of 1 UIT each.
  • After publication of the law, the SBS has up to 30 days to set the operational procedure, which will open a 90‑day window for affiliates to file requests via AFP portals or in person.
  • Funds withdrawn will be intangible against most seizures, with deductions permitted only for child‑support obligations, and affiliates may halt future payouts with advance notice.
  • Officials and media estimate first disbursements could start in late October or, more likely, early November 2025, contingent on timely promulgation and regulation.
  • In Argentina, ANSES is paying September benefits with a 1.9% CPI update and a $70,000 bonus for minimum pensions, while Beneficios ANSES offers automatic discounts and reintegros at affiliated merchants when using the benefit‑linked debit card, with Banco Nación adding a 5% reintegro via BNA+ MODO subject to a monthly cap.