In addition to the 10% withdrawals already made and the new initiatives that have recently emerged, Another proposal that seeks to use savings for retirement is the automatic loan of AFP funds in Chile.
In summary, the pension reform proposal would allow workers to get money directly from their accounts individuals in the administrators to which they are affiliated.
However, unlike other proposals, On this occasion, the money would be requested to be reimbursed in installments until the “debt” was completely settled. with the ability to reapply for the benefit once it has been completed.
Although it is still pending approval – currently in the second legislative process in Congress – its main details are already known, which include the central requirements and the amount of money that would be possible to obtain, measured in Development Units (UF).
Know the minimum and maximum amount per request
According to what is currently known, The self-loan establishes that the maximum amount that can be obtained is equivalent to 5% of what has been accumulated based on contributions.
In that sense, The maximum amount was established at 30 UF, which is equivalent to approximately $1,126,470 Chilean pesos to June 2024.
On the other hand, Until now it has not been indicated whether there will be a minimum amount established for each request. However, it will always be necessary to have sufficient funds to be able to make the request.
Requirements for self-loan of AFP funds in Chile
Although additional requirements may be added as the process progresses, For now, the people who could apply would be those who:
- They are not retired.
- They have sufficient funds in their accounts.
- They are five years or more away from their retirement age (whether men or women).
- They already paid for a prior application (in case it’s not the first time).
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