Overview
- Deputy Catherin Palomino filed the proposal on Friday to let affiliates of the private pension system make voluntary, progressive ninth withdrawals from their AFP accounts.
- The draft does not set a numeric limit or disbursement rules and must still pass normal parliamentary procedure where amounts, eligibility, and timing will be decided.
- Palomino and coverage cite BCRP research and ENFEN forecasts that an extraordinary-magnitude El Niño between September 2026 and January 2027 could create supply shocks, higher prices, and lower growth as the rationale for the bill.
- BCRP president Julio Velarde publicly attacked new withdrawal proposals as irresponsible and warned repeated early withdrawals erode retirement balances and weaken the pension system, citing demographic pressures from lower fertility and population aging.
- The proposal revives debate after the 2025 eighth withdrawal law that allowed up to 4 UIT and would require the SBS and AFPs to set operational rules if Congress approves any new access, with clear effects on future pension payouts for those who withdraw now.