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This Thursday begins the period to request the second withdrawal of up to 10 percent of pension savings.
The new process will start at 09:00 hours, in a first stage of applications that will be exclusively online, and contributors must request their withdrawal through the AFP website in which they are affiliated, only with their RUT and the serial number of the identity card.
On the eve, the general manager of the AFP Association, Fernando Larrain, explained that “we are making an effort to anticipate payments and that is why, as of December 17, the first payments will be available, but That does not mean that all the people who make their request on the 10th, will have the payment on the 17th … But they will still have it within 10 business days “.
“It is also important that people manage their data, avoid fraud, this is completely free, nobody can charge you to do this work for you … This is individual, there are no charges“added the representative.
All people who have a balance in their individual capitalization account can access the withdrawal. This includes old age, disability or survivor pensioners.
Furthermore, this is a universal retreat, that is, all AFP affiliates, without exclusion, can opt for this alternative. This considers the workers from both the public and private sectors and both Chileans and foreigners.
The AFP Association enabled the Mi10AFP.cl website to provide the necessary information for the process.
WHAT AMOUNT CAN BE WITHDRAWN?
The law states that the minimum retire will be 35 Development Units (UF), which is equivalent to approximately one million pesos.
The amount maximum will be equivalent to 150 FU, which are around 4.3 million pesos.
In the event that the 10 percent corresponds to an amount less than 35 UF, affiliates may withdraw up to said amount and, in the event that the total accumulated savings is less than 35 UF, all funds may be withdrawn.
The payment of the funds in cases of withdrawals of less than 35 UF will be made in a single installment and within a maximum period of 10 business days from the presentation of the request to the AFP.
Withdrawals greater than 35 UF will be paid in two installments, the first after 10 business days from when the request is submitted to the AFP and the second, 10 business days after the first payment.
It is not a requirement to have requested the first withdrawal to be able to access the second. In any case, those who have not yet requested the first withdrawal of funds, have until July 29, 2021 to do so.
While to make the second withdrawal effective, the deadline is until December 9, 2021.
HOW IS THE WITHDRAWAL REQUESTED?
In the withdrawal request, the affiliate must indicate their personal data, if you want to withdraw the entire amount allowed or another amount, if you have a debt for alimony and the method of payment (transfer to Account 2, to the sight account, checking account, RUT account or Cooperativa de Ahorro y Crédito account or by other means of payment). For security reasons, the payment will be transferred only to accounts whose RUT of the holder is the RUT of the requesting member. After completing the application, members will receive a voucher stating the date and details of the application.
The foreign workers Those who do not have their final RUT may request the withdrawal with the NIC (Identification Number for Quotation) together with their AFP code if they carry out the process remotely. If they apply in person, they must also present their passport or identity document from the country of origin.
Those Affiliates residing abroad can make their withdrawal request online if they have a bank account in Chile. Otherwise, they can do it through a third party mandated by means of a public or private deed legalized before a notary or Civil Registry.
Four business days after making this request, affiliates will receive an approval or rejection response by your administrator. The request may not be approved if the person does not have a balance in their individual account.
WHAT IS THE FORM TO REQUEST THE WITHDRAWAL OF FUNDS?
The form has a unique application format in which the same information will be required from affiliates: Identity card number and its series or document number, full address (optional), telephone and email, in addition to the respective filling instructions and the payment method, being able to select the transfer to the voluntary savings account (account 2), if you do not have an account 2, one will be created automatically, the deposit in a bank account (current or view ), RUT Account or Savings and Credit Cooperatives account, having for these purposes inform the account number, type of account and name of the entity.
Payment will be made via transfer to a Voluntary Savings Account (Account 2), to a bank account or to a Savings and Credit Cooperative account., for which the affiliate must inform the number and type of account in addition to the name of the entity that manages it. People who do not have an Account 2 open can still receive the funds in it, since it will be opened automatically with the withdrawal deposit.
The withdrawal amount will not be subject to the collection of administration fees.
Source: AFP Association.
WILL I HAVE TO PAY TAX FOR THE WITHDRAWAL?
The amount of the withdrawal of 10 percent of the pension funds will be considered income for those taxpayers who in their annual income declare income greater than 30 UTA (approximately 18.3 million pesos per year), equivalent to 1.5 million pesos per month.
The funds withdrawn and paid during 2020 will pay taxes in the 2021 income operation, while the amounts received by the affiliates in 2021 will be taxed in the 2022 income operation.
