translated from Spanish: Second 10% withdrawal: More than 4.6 million people have received their funds

Out of a total of 6,419,502 members and beneficiaries who have requested a second withdrawal of pension funds from their individual capitalization accounts within nine days of the new law authorizing the process, 73.1% already have the resources paid. These are 4,693,394 people who, on average, they have received a paid amount of $993,099.According to data collected by the Superintendency of Pensions (SP), until 17:00 today pension fund managers (AFPs) had made payments totaling US$ 6,443 million (equivalent to $4,661 billion). The new Law No. 21.295 authorizing an exceptional second withdrawal of pension funds began to govern last Thursday, December 10 and to date the system already has 6,558,371 applications to withdraw savings. Of these, 3.6% or 234,212 applications have been rejected. Individuals can re-enter such requests once they have re-submitted the reasons for the rejection based on the information provided by their administrator. The Superintendency of Pensions reiterated that under the new law, the administrators have a period of up to 10 working hours from the time the application is made to make the payments. This means that for those who entered their applications on December 10 – the day the second withdrawal began to rule – the payment deadline expires on the next 24th of this month. This is without prejudice to the voluntary advance of payments for their affiliates by some administrators.

Original source in Spanish

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