Are you going to change your AFP commission?

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If you have chosen to continue with the current scheme, find out what procedure you must complete.


Starting next year, the payment that workers make to the AFPs for managing their contributions will no longer be just a fixed percentage of their total salary, as it has been until now.
The AFP reform approved by Congress in July determined that these companies should be remunerated with a percentage of the fund accumulated with contributions, that is, on the balance.
NEW COMMISSION The Superintendency of Banking, Insurance and AFP (SBS) assures that this will encourage administrators to achieve greater israel number screening profits because, if the affiliate's fund grows, their payment will also increase.
However, the regulator has stipulated that this type of charge will not be applied for another 10 years. In the meantime, from 2013 to 2023 a mixed commission will be in force. This will have two components: a percentage of the salary and a percentage of the fund. The first will decrease until it reaches 0% in 2023.
OLD MEMBERS DECIDE The new system will be mandatory for new members starting in February next year.
Current contributors, however, can choose not to switch to this scheme if they are not convinced. What should be done? Just yesterday, the SBS issued Resolution No. 9353-2012, which regulates the process of choosing the commission and details the procedures that must be followed:
1. Workers who currently contribute to an AFP have between January 2 and March 31, 2013 to communicate their decision.
2. The procedure can be done in person at the Pension Advisory Office (OAP) of your AFP. You must bring your ID.
3. The AFPs must provide a document format in which this decision will be expressed.
4. It can also be done online and by mail. If it is done online, the worker must enter the website of his AFP. The company will provide him with two passwords. The first will be for him to enter his data, and the second, to confirm that he wants to continue with the salary commission.
5. If you prefer postal mail, you must send the form provided by your AFP and a copy of your ID to the place indicated.
6. For those who chose the web and postal mail processes, they should know that their AFPs will call them by phone and send them letters to certify the authenticity of the processes.
Get informed and compare well before making a decision.