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Peru Gov't considers access to pension funds for low-wage payroll workers

18:05 | Lima, Apr. 7.

Peruvian President Martin Vizcarra on Tuesday announced that his Government will consider if payroll workers should be allowed to withdraw up to S/2,000 (about US$584) from their pension funds just like pension savers who have not been on the payroll within the last 12 months are.

As is known, the Government approved that affiliates to Pension Fund Administrators (AFP), who have not been on the payroll within the last 12 months, can withdraw up to S/2,000 (about US$584) from their retirement pots.

Such measure is intended to benefit those who have been jobless over the last six months in the face of the national health emergency declared due to coronavirus (COVID-19).

The top official affirmed that he has asked Economy and Finance Minister Maria Antonieta Alva to consider extending this benefit to payroll workers who contribute to their pension funds, because the salary of some of them is low and, at this time of crisis, everyone needs this additional support.

"We are completing the assessment and no doubt we will take a decision —in the coming days— whether or not to increase the number of beneficiaries under these measures, so that they can make use of their AFP resources," he explained.

Remarks were made in a televised press conference, within the framework of a mandatory social isolation imposed to prevent the COVID-19 from further spreading in the South American country.

Initially set to last from March 16 to 30, the measure has been extended thru April 12.

On this occasion, the President was joined by members of the Council of Ministers. The event was held at the Government Palace in Lima.

Tuesday marks the twenty-third day of mandatory social isolation.

(END) MDV/JJN/RMB/MVB

Publicado: 7/4/2020