Overview
- Congresswoman Norma Yarrow introduced the proposal on Monday to change Law 32322 so workers could withdraw 100% of their CTS savings until December 31, 2028.
- The current rule from Law 32322 still allows full withdrawal only through December 31, 2026 and would revert in 2027 to 50% withdrawals except for workers certified with cancer or a terminal illness.
- Employers must deposit the second 2026 CTS installment by November 16, 2026 and Sunafil has warned that firms that miss the deadline face financial sanctions.
- Yarrow’s draft would let any eligible private‑sector worker withdraw funds without proving they were hit by floods or landslides, while the bill itself notes that taking all CTS reduces the safety net for workers if they later lose their jobs.
- Supporters cite the scale of damage from the 2017 El Niño Costero and emergency housing aid in 2023 as reasons for extended access, while analysts say the proposal does not quantify effects on CTS balances in banks or on workers’ long‑term protection.