What would be the savings necessary to get up to $1 million 125 thousand in Chile?

What would be the savings necessary to get up to $1 million 125 thousand in Chile?
What would be the savings necessary to get up to $1 million 125 thousand in Chile?

One of the most talked about topics in recent months is Self-payment of AFP funds. The legislative initiative seeks to ensure that members of pension administrators make early use of their money saved for retirement.

In detail, the project proposes get money from individual capitalization accounts in the corresponding administrators.

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It should be noted that this initiative is part of the pension reform and is in its second legislative process. In this way, this would allow us to obtain a sum of money that will then be returned through installments from the month following the request.

Self-loan of AFP funds: this is the amount of savings necessary to obtain the maximum amount per request

Specifically, the Self-Loan of AFP funds would allow obtaining a 5% of the accumulatedthanks to the work of the years and the corresponding contributions.

Under that context, the maximum amount of money that could be taken out of savings would be 30 Development Units (UF). Along these lines, for June 2024, the aforementioned amount corresponds to $1,126,680.

What would be the requirements?

In the event that the AFP Self-Loan Funds initiative is approved and promulgated, the requirements proposed to obtain the figure are the following:

  • Not being retired.
  • Have sufficient funds for an application.
  • Being five years or more from the retirement age in the country (55 years or less in women, 60 years or less in the case of men).
  • If it has been ordered previously, having paid said previous self-loan in full.

It should be noted that when paying the benefit, An additional 2% will be applied to contributions for the coming months, until the debt is paid off. This point, as long as the worker contributes through dependent or independent work.

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