The Congressional Economy Committee debates the controversial withdrawal of pension funds from AFPs: Freedom or restriction?

The Economy Committee of Congress is preparing to resume the debate on the controversial withdrawal of up to 4 Taxable Income Units (UIT) from the funds of the Pension Fund Administrators (AFP) in an extraordinary session that will take place next Monday. The announcement was made by Congressman José Luna Gálvez, who highlighted the importance of this proposal at a time of economic crisis for many Peruvian families. The draft presented by the committee proposes the possibility of withdrawing up to S/ 20,600 from individual pension accounts, on the condition that applicants have not made contributions for at least six months until the end of 2023. However, Luna Gálvez has expressed his discontent with this restriction, arguing that all citizens affected by the economic recession should have the opportunity to access this voluntary withdrawal. The congressman emphasized the difficult situation faced by thousands of Peruvians, including unemployment and the decrease in purchasing power of salaries. In an urgent call in favor of the most vulnerable families, Luna Gálvez urged his colleagues to consider the need to allow all citizens affected by the crisis to have the freedom to access their funds without restrictions. Furthermore, the congressman highlighted the importance of separating the discussion on pension reform from the debate on the withdrawal of funds from individual AFP accounts. He also recalled the financial difficulties faced by numerous families in Peru, many of which are in debt and struggle to meet their economic responsibilities, especially in a context of recession and unemployment. In a call for solidarity and empathy, Luna Gálvez urged his colleagues to prioritize the well-being of the population above partisan interests or external pressures. At a time when many Peruvian families are facing uncertainty and economic precariousness, the congressman emphasized the importance of acting promptly and responsibly to protect the most vulnerable and ensure access to financial resources in times of crisis. The discussion on the withdrawal of funds from AFPs will continue to generate controversy and debate in the coming days, amid an uncertain and challenging economic scenario for many Peruvian families. Given the complexity of the situation, the final decision of Congress will have a significant impact on the lives of thousands of citizens struggling to cope with the consequences of the current economic crisis.