Peruvian President Martin Vizcarra on Monday announced that the Council of Ministers has approved that citizens who are affiliated to Pension Fund Administrators (AFP) and have not been on the payroll within the last 12 months can withdraw up to S/2,000 (about US$584) from their funds.
According to the top official, AFP resources are made up from workers' contributions; so it is time to make them available to people in vulnerable situations.
"We have approved a proposal to let workers, who have not been on the payroll within the last 12 months, withdraw up to S/2,000 (around US$584)," he pointed out.
This
measure will benefit more than 2.6 million contributors.
Mr. Vizcarra explained that said amount shall be withdrawn in two instalments (S/1,000 or US$292 each), so that the system is not affected.
Likewise, he disclosed that the measure amounts to a total of S/5.3 billion (around US$1.5 billion).
On this occasion, the President was joined by members of the Council of Ministers. The event was held at the Government Palace in Lima.
Monday marks the fifteenth day of mandatory social isolation.
(END) MDV/JJN/RMB/MVB
Publicado: 30/3/2020