Overview
- The Superintendencia de Banca, Seguros y AFP (SBS) published a draft regulation on Monday, June 22, 2026, that would allow pension contributions to the private system to be made through mobile wallets and apps such as Yape and Plin.
- The proposal requires payment intermediaries to transfer collected money to pension accounts no later than the second business day after collection and keeps contribution valuation based on the day before payment.
- The draft creates a new class of payment-service providers called instituciones intermediarias that must meet rules on operation validation, custody, operational continuity, cybersecurity and anti–money‑laundering controls.
- Administradoras de Fondos (EAFs) must sign agreements with intermediaries and send copies to the SBS within three days, a step that could raise onboarding and compliance costs for fintechs but aims to ensure accurate crediting of affiliates’ accounts.
- The SBS paired this consultation with a separate proposal to loosen some investment rules for pension funds to permit more international diversification and benchmarking, and both drafts are open for a 15‑calendar‑day public comment period before final rules are issued.