on Friday evening enacted the bill which allows each worker to make an extraordinary withdrawal of up to 4 tax units (S/18,400 = US$4,901) from pension funds of the private Pension Fund Administrators (AFP) system.
The Head of State said he hopes that in a maximum period of 15 days workers affiliated with this system will be able to submit their requests to withdraw the amount they decide from their personal accounts.
The top official explained that his administration supported the initiative for the extraordinary withdrawal of up to 4 tax units from AFP funds following an exhaustive analysis.
"This government owes it to the people (...). We listen to you, we will always listen to you, and we cannot deny the clamor of the people. Besides, we cannot deny you the money from your savings," he expressed.
Mr. Castillo emphasized that the enacted rule seeks to alleviate the economy of Peruvian families, who have the need to cover food and health expenses, as well as debts or other pending commitments, in a context of economic crisis.
Furthermore, the President mentioned that there are many voices which do not agree with the withdrawal of funds from the AFP, saying that these can affect the future retirement of affiliates to this system.
However, he called on citizens not to be afraid because his administration and teams from various sectors will work intensively to boost employment levels in the country.
Commission for pension reform
Moreover, President Castillo announced that a commission will soon be formed to work on the national pension system reform.
The Head of State also highlighted the signing of this law as a sign of the agreement that can be reached by the Executive and Legislative Branches if they put the country ahead of any interests.