Regulatory Alerts2026-04-17 | Resolución SBS 1120-2026SBS Resolution No. 1120-2026: Approves Operational Regulation for Retirement Pensions to Fishing Workers in the Private Pension System and Complementary Rescue Pension
The Superintendent of Banks, Insurance and Private Pension Fund Administrators (SBS) issued Resolution No. 1120-2026 to approve the Operational Regulation governing retirement pensions and Complementary Rescue Pensions (PRC) for fishing workers in Peru's Private Pension System (SPP). The regulation establishes specific eligibility criteria, including a minimum age of 55, twenty-five years of effective fishing work, and 375 contribution weeks, while detailing procedural requirements for application submission, fund administration, ONP evaluation, and payment processing. It repeals prior directives and mandates that affiliated workers and Fund Administrating Companies comply with standardized documentation, financial conversions, and supervisory oversight to ensure accurate pension accrual and disbursement starting August 1, 2026.