Overview

• The law, promulgated on September 20, authorizes affiliates to withdraw up to 4 UIT (S/21,400) from their individual pension accounts.
• Requests may be filed virtually or in person once the regulation is published, with the process running for 90 calendar days.
• Payments are structured at up to 1 UIT every 30 days, with the first disbursement scheduled 30 days after the AFP receives the request, and affiliates may desist once with 10 days’ notice before the next payment.
• Media share tentative calendars such as first payments in early November or on November 28 with subsequent monthly disbursements, but these dates remain contingent on the SBS regulation.
• Authorities urge prudent use of retirement savings, and the SBS offers an online tool to verify AFP affiliation with Integra, Prima, Hábitat or Profuturo.