CTS RETIREMENT 2024 | Check from when you will be able to access 100% of your money | ANSWERS

CTS RETIREMENT 2024 | Check from when you will be able to access 100% of your money | ANSWERS
CTS RETIREMENT 2024 | Check from when you will be able to access 100% of your money | ANSWERS

With 95 votes in favor, nine against and only one abstention, the Plenary Session of Congress approved this May 2 the opinion that authorizes workers to freely dispose of 100% of the Compensation for Time of Service (CTS) until December 31, 2024. Now, a new question arises: from when will the funds be available? In the following note we will tell you what you need to know.

  • AFP-2024 withdrawal schedule: when it is paid, beneficiaries and more, according to the DNI number

With 95 votes in favor, nine against and one abstention, the Congress of the Republic approved the substitute text for the opinion of bills 6495, 7010, 7130, and others, which authorizes the provision of 100% of the Time Compensation of Service (CTS) of the workers, until December 31, 2024. The text was exempt from a second vote, but it still must go through the Executive where it will be observed or finally promulgated.

The Executive could approve the regulations of the law within a maximum period of 10 calendar days from its entry into force. It is after the publication of the regulation that workers will be able to access their CTS funds. In 2022, the free withdrawal of the CTS was approved and postponed until December 31, 2023. For this to happen, a month passed between the approval of Congress and the promulgation of the regulations. If the scenario is repeated, workers could access their funds from the first week of June.

According to information from Mauricio Matos, associate partner of the Labor Area of ​​EY Peru, for the Andina agency, he explained how to calculate the CTS in this way:

  • For an employee who obtains an imprecise or variable main salary, the CTS will be the result of the average salary received by the worker in the six months that comprises each period. Therefore, the salary is averaged from November to April (May CTS) or from May to October (November CTS).
  • That employee who receives a fixed salary but has imprecise or variable complementary remuneration, that is, has overtime, so these amounts will be included in the calculation as long as they have been received 3 or more times in the November period of the year. prior to April (May CTS) or in the period from May to October (November CTS). In this way, the concepts are added and divided by 6.

It is important to mention that, to calculate the amount, you must take into account the monthly salary that the worker receives, then add 1/6 of the bonus (dividing the bonus by six). The total is divided by 360 and then multiplied by the days worked (for the entire semester, it would be 180 days).

All employees of the private regime who work, at least, a four-hour day every day.

Employees of small businesses who receive 15 daily payments per full year of service. The maximum daily remuneration is 90.

In the case of agricultural workers, the CTS is included in the daily remuneration at a rate of 9.72% of the basic salary. However, the employee can request the payment in a differentiated and semi-annual manner, as in the common labor regime.

Domestic workers have recently been included. They must be paid the CTS under the same conditions as the common labor regime.

The National Superintendency of Labor Supervision (Sunafil) informed workers that if they do not deposit the CTS within the established date, this is considered a serious offense for which they could receive a sanction as follows:

Small company: The fine ranges from 0.45 to 4.50 tax units (UIT), between S/2,070 and S/20,700.

Non-Mype companies: The monetary penalty ranges from 1.57 to 26.12 UIT, which is equivalent to amounts between S/7,222 and S/120,152.

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