Regulatory Alerts2012-08-28 | Resolución SBS 6641-2012Added · Updated
Resolution SBS No. 6641-2012: Amends the Compendium of Superintendence Norms for the Private Pension System
The resolution establishes the assignment procedure for workers joining the Private Pension System (SPP) between September 24, 2012, and December 31, 2012, requiring them to affiliate with the Pension Fund Administrator (AFP) offering the lowest management commission. It mandates a specific commission submission process on September 13, 2012, sets a mandatory twelve-month retention period for these assigned affiliates, and updates regulatory definitions and reporting obligations for AFPs and employers.
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