Overview

• Congress approved the measure on September 17 to allow all SPP affiliates to withdraw up to 4 UIT (S/21,400) in as many as four monthly tranches of 1 UIT.
• The Executive has publicly backed the law, with the labor minister stating the president will sign it, yet the autógrafa had not reached the Palace as of September 19.
• After promulgation, the SBS has up to 30 days to issue the operational procedure, then affiliates will have 90 days to apply via AFP portals or in person.
• By rule, the first payout is made 30 days after a request; experts project applications could open in October and initial disbursements in early November, contingent on the pending steps.
• The SBS estimates potential outflows of about S/31,613 million; withdrawn funds are intangible except for court-ordered child support retentions of up to 30%.