AFP Modelo registers the largest departure of affiliates since its creation after withdrawal failures of 10%: more than 13 thousand people left

The failures that Modelo registered in the framework of the 10% withdrawal process took the toll: in September it registered the largest loss of affiliates since the creation of the AFP, since 13,318 people left in a single month.

This is revealed by figures released by Ciedess this morning, which shows that in the month of September 2020, the AFP that presented the highest number of net transfers (more additions than withdrawals due to transfers) was Habitat, with 5,079 affiliates, while The inverse case is shown by Modelo, with -13,318 net transfers.

This happens because Model registered 230 incorporations and 13,548 retirements. In any case, the exits represent 0.62% of the total affiliates in the AFP, since it has more than 2 million affiliates.

In the net, the only AFP, apart from Modelo, which registered exits, was Planvital, as it experienced a drop of 1,087 affiliates. Meanwhile, after Habitat Capital was located with the most incorporations (3,298), Provided (2,890), Cuprum (1,758), and UNO (1,268).

This historic departure of affiliates registered by Modelo in September is only surpassed by the flight of affiliates who marked Provida and Planvital when commissions rose a few years ago, since in the case of the first, at that time it had an exit of 14,696 people, and the second 19,644.

During 2020 (January to September), the AFP with the best net balance is Capital, with 26,101 transfers, while Modelo shows the opposite case, with a net outflow of -34,218 affiliates.

On the other hand, in the last 12 months Capital is the AFP with the best balance, with 26,748 net transfers, while Modelo shows the reverse scenario, with -39,806 net outflows.