How to know how much money I have saved and what are the requirements to collect it

One of the benefits which can be accessed by those people who are unemployed in our country, is the Unemployment Insurance.

In order to cover some expenses that may arise, Chileans who are looking for a job have the possibility of collecting Unemployment Insurance, which is covered by the Severance Fund Administrator (AFC).

In detail, the benefit allows the unemployed to collect part or all of the funds that are accumulated in their respective Individual Severance Account (CIC).

Regarding the latter, there is the possibility that people have never used the insurance during their working life, so they after retiring have the opportunity to withdraw the all of the funds that they accumulated.

Unemployment Insurance in Chile: What are the requirements?

As with most benefits, there are some requirements that people must meet in order to withdraw Unemployment Insurance. In addition to being unemployed, it is necessary:

• Have a minimum of contributions paidbeing 10 for indefinite contract and at least five for a fixed position or by work/task.
• Be unemployed under any of the causes of termination of employment relationship contemplated in the Labor Code.
• Have a severance pay, dismissal letter, resignation letter, record of appearance before the Labor Inspection, certificate from the Labor Inspection, court ruling or other document proving unemployment.

How do I know how much money I have saved?

Those who are interested in knowing the exact amount of money they have saved to date can consult it through the AFC website (available here).

Once inside the page, you can log in with the RUT and Unique Keyor otherwise with its respective password of the AFC.

After that, the platform will display the detail with the Total balance that the worker has in his or her respective Individual Severance Account.