Regulatory Alerts2009-07-17 | Resolución SBS 8962-2009Added · Updated
Resolution SBS No. 8962-2009: Modifies Titles VII and V of the SPP Norms Compendium Establishing Conditions for Programmed Withdrawal with Bonus
Resolution SBS No. 8962-2009 modifies the Compendium of Norms of the Private Pension System (SPP) to establish conditions for Programmed Withdrawal with Bonus, allowing affiliates to receive two additional annual payments equivalent to the monthly pension in July and December. The resolution updates the calculation of Temporary Annuities to consider fourteen monthly installments when combined with a deferred life annuity with bonus and revises the definition of the Basic Pension Amount (MBP) to include readjustment factors for this modality. It also amends requirements for early retirement, specifically regarding contribution density and average remuneration calculations for independent workers, and strengthens transparency and advice mechanisms for AFPs and insurance companies regarding pension products and fund type changes.
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