One day after the first legal term for the deposit of retirement funds, the Superintendency of Pensions delivered a new balance of the process and reported the percentage of compliance by AFPs.
The regulator provided updated and disaggregated figures regarding the payments made according to the legal deadline, regarding the affiliates who should receive the deposit Yesterday -those who applied on the first day of the process, July 30- and today -who did the procedure the next day-, considering the period of 10 business days set in the reform.
In this way, AFP Modelo and UNO have recorded the lowest execution of payments within both legal terms: Modelo had a 86 percent of compliance yesterday, and of 89 percent this Friday. UNO, in turn, yesterday recorded 88.9 percent, while today it fell to 72.9 percent.
UNO is the most recent Administrator of the system and compared to the others, it has a much smaller portfolio of contributors: until today it has received 84.642 Total applications, according to the regulator, while the other AFPs range between one and two million.
For its part, the AFPs with the best numbers are PlanVital (100 percent yesterday and 97 percent today) and Cuprum (99.8 percent yesterday and 99.9 percent today).
They follow Habitat (86 percent yesterday and 100 percent today), Capital (93 percent yesterday and 91 percent today) and ProVida (90.19 percent yesterday and 89.60 percent today).
In the two weeks after the application has started and the first legal payment date has been completed, the Superintendent of Pensions, Osvaldo Macias, highlighted as “successful” the process.
????The AFPs on the blackboard. Superintendency of Pensions delivered compliance percentages within the legal term, as of today:
Model: 89%
Provided: 89.6%
One: 72.9%
Planvital: 97%
Habitat: 100%
Cuprum: 99,9%
Capital: 91%@Cooperative pic.twitter.com/afFEniBmbS– Felipe Gallegos (@ FelipeGallegos7) August 14, 2020
Meanwhile, until today 6.5 million affiliates have already received at least their first deposit, which is equivalent to 92 percent of those who corresponded according to the deadlines.
The amounts delivered amount to 8.6 billion dollars.
The remaining 8 percent is divided by withholdings for alimony notified by the Judiciary, and other cases that are being supervised by the regulator, which does not rule out opening sanctioning proceedings if breaches by the AFPs are detected.
In the event that an affiliate observes a delay in his payment, he must “approach his Administrator to find out the reason why he was not deposited, he must notify him. If he does not do so, and if they have doubts, through any of the channels you should call your Administrator, “Macias advised.
“If within that 8 percent any responsibility of the Administrator is detected, we will initiate the corresponding sanctioning processes “the superintendent warned.
Until this Friday, 8,819,599 requests for partial withdrawal of funds had already been entered, which corresponds to 80 percent of the total number of members of the system, which is estimated at 11 million.
????The Latest: 92% of the affiliates have already received their first payment of 10% of the pension savings, according to SPensiones.
What happens with the remaining 8%? They are pension and food debts and other causes that are being audited, not ruling out sanctions against the AFPs. @Cooperative pic.twitter.com/aW5jIx65pq
– Felipe Gallegos (@ FelipeGallegos7) August 14, 2020
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