He self-loan of AFP funds It is one of the various articles that is part of the pension reform in Chile and which has mainly attracted attention because it proposes making a advance use of the money that would be accumulated for the pension after retiring.
As a proposal that would be available to both men and women, the application would have a withdrawal limit of 5% of the total in the respective account where the contributions go to the administrators, with 30 Development Units (UF) maximum Or what is the same, $1,226,800.
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And although the project is not yet approved -and is currently in Congress awaiting a discussion in the Senate-, the truth is that The main requirements for the applications have already been revealed.
Of course, the latter also accounted for a group of Chileans who could not use the benefitthe same that should be returned through a series of installments starting in the subsequent month after obtaining it.
Self-loan of AFP funds in Chile: this is the group of people who could not collect the benefit
As can be seen from his mandatory requirementsthe group of people who would not have access to the benefit, if it goes ahead, would be the those who do not have sufficient savings in their individual capitalization account.
At the same time, the circle widens further because the groups that are less than five years from the legal retirement age in the countrywhich would be one of the key points.
In a similar vein, you will also have to comply with not owing a previous request. Obviously this would apply in case it is not the first time that the self-loan of AFP funds is accessed.
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