Regulatory Alerts2002-08-22 | Resolución SBS 795-2002Added · Updated
Resolution SBS No. 795-2002: Operating Regulation for the Nullity of Affiliation to the Private Pension System for Having Right to a Retirement Pension under Decree Law No. 19990
The Superintendence of Banking, Insurance and Private Pension Fund Administrators (SBS) approves an operating regulation establishing the procedure for nullifying affiliation to the Private Pension System (SPP) when a worker had the right to a retirement pension under Decree Law No. 19990 at the time of joining. The regulation mandates that Affiliation Managers (AFPs) verify eligibility, calculate provisional contribution differentials owed to the National Pension Office (ONP), and transmit files to the ONP for qualification. It sets a ten-year statute of limitations for nullity requests due to employer responsibility and specifies that the calculation period for invalidity cases begins from the date the evaluation request was submitted. The resolution applies to pending or ongoing nullity requests and requires AFPs to provide orientation brochures to affiliates regarding early retirement benefits.
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