Lima, 27 July 2007

S.B.S. Resolution No. 1041-2007

The Superintendent of Banking, Insurance and
Private Administrators of Pension Funds

WHEREAS:

That, by means of Law No. 28991, published in the Official Gazette "El Peruano" on 27 March 2007, the Law regulating informed free disaffiliation, minimum and complementary pensions, and the special early retirement regime was approved;

That, by means of Supreme Decree No. 063-2007-EF, the Regulation of Law No. 28991 was approved, which establishes the conditions and general guidelines regarding the requirements and procedures for informed free disaffiliation, minimum and complementary pensions, as well as the special early retirement regime;

That, in that sense, it is necessary to issue the operational provisions that allow the exercise of the rights and benefits linked to the informed free disaffiliation procedure and the special early retirement regime referred to in the preceding recital;

That, Article 6 of Supreme Decree No. 063-2007 grants both the Superintendency of Banking, Insurance and AFP and the Office of Pension Normalization (ONP) the power to issue the operational regulation in order to make viable the provisions contained in the aforementioned supreme decree;

Having regard to the opinion of the Deputy Superintendencies of Private Administrators of Pension Funds and of Legal Advisory, as well as to what was indicated by the ONP regarding matters within its competence; and,

In use of the powers conferred by numeral 9 of article 349 of the General Law of the Financial System and the Insurance System and Organic Law of the Superintendency of Banking and Insurance, Law No. 26702 and its amendments, subsection d) of article 57 of the Single Ordered Text of the Law of the Private System of Pension Fund Administration, approved by Supreme Decree No. 054-97-EF;

RESOLVES:

Article One.- To approve the Operational Regulation for informed free disaffiliation and the special early retirement regime of the Private Pension System, referred to in Law No. 28991 and Supreme Decree No. 063-2007-EF, whose text is contained in the Annex that forms an integral part of this Resolution.

Article Two.- This resolution shall enter into force on the day following its publication in the Official Gazette El Peruano.

Register, communicate and publish.

FELIPE TAM FOX
Superintendent of Banking, Insurance and
Private Administrators of Pension Funds

OPERATIONAL REGULATION FOR INFORMED FREE DISAFFILIATION, AND SPECIAL EARLY RETIREMENT REGIME OF THE PRIVATE PENSION SYSTEM

TITLE I GENERAL PROVISIONS

Article 1.- Scope.

This operational regulation establishes the procedures applicable to the treatment of informed free disaffiliation, and the special early retirement regime based on the provisions of Law No. 28991 and Supreme Decree No. 063-2007-EF.

Article 2.- Definitions.

For the purposes of the procedures carried out under the scope of this Operational Regulation, the following definitions shall be used:

• AFP: Private Administrators of Pension Funds;

• Affiliates: those workers who, as a result of their incorporation into the SPP, affiliated with an AFP;

• Mandatory Insured: Insured persons who work under an employment relationship, referred to in Article 3 of D.L. No. 19990;

• Optional Insured: Insured persons who, through an administrative resolution, are authorized to make contributions to the SNP;

• BdR: Recognition Bonds;

• CIC: Individual Capitalization Account;

• CUSPP: Unique Identification Code of the affiliate in the SPP;

• Disaffiliation from the SPP: situation whereby an affiliate of an AFP leaves the SPP, returning to the SNP;

• Days: calendar days, unless expressly indicated otherwise;

• Incorporation into the SPP: entry of a worker into the scope of the SPP, based on the signing of an affiliation contract with an AFP;

• Law: Law No. 28991 approving the Law of informed free disaffiliation, minimum and complementary pensions and Special Early Retirement Regime;

• ONP: Office of Pension Normalization;

• REJA 28991: Special Early Retirement Regime in the SPP, Law No. 28991;

• RESIT-SPP: Report of Situation in the SPP;

• RESIT-SNP: Report of Situation in the SNP;

• Regulation: Regulation of Law No. 28991, approved by Supreme Decree No. 063-2007-EF;

• SBS: Superintendency of Banking, Insurance and Private Administrators of Pension Funds;

• SNP: National Pension System;

• SPP: Private System of Pension Fund Administration.

TITLE II FREE DISAFFILIATION FROM THE PRIVATE PENSION SYSTEM (SPP) AND RETURN TO THE NATIONAL PENSION SYSTEM (SNP)

Article 3.- SPP pension information for disaffiliation1

The AFP must provide adequate guidance to the affiliate so that they initiate the SPP disaffiliation procedure. To this end, it must inform them, at a minimum, of the following:

i. Channels enabled to obtain the documents that must be attached to the disaffiliation application;

[1] Article amended by SBS Resolution No. 2906-2021, published on 01.10.2021.

ii. Conditions for determining the amount of the estimated or calculated pension in the SPuP and the SPP, as applicable;

iii. Amount owed for the contribution differential;

iv. Certificates of having met the requirements of years of contribution to have a pension in the respective pension regime;

v. Effects of disaffiliation, including its irreversibility and the convenience or not of disaffiliation.

vi. Effects and consequences of the figure of abandonment that applies, when not expressing a decision, whether confirming or claiming, on the RESIT SPP, within the period of three (3) months, after it has been delivered by the AFP.

Article 4.- Accreditation of entry into the SNP

In the case of Mandatory Insured Persons, entry into the SNP prior to 31 December 1995 shall be accredited by presenting the original of any documentary evidence of the existence of an employment relationship, showing that at least one contribution was made to the SNP, which may be:

• Pay slips for remuneration, duly signed and/or sealed by the employer.

• Settlement of Social Benefits with contributions to the SNP, duly signed and/or sealed by the employer.

• Documentary evidence of contributions issued by the former IPSS or ESSALUD.

• Certificate of fifth-category withholdings;

• Sworn Statement of the Employer, only in the case of a legal entity or indivisible succession, signed by the Legal Representative, a condition that shall be accredited with the literal copy of the corresponding record issued by the Public Registries, indicating that the corresponding withholding for the National Pension System in favor of the insured person existed;

• Sworn Statement of the insured person, in accordance with the conditions set forth in Supreme Decree No. 082-2001-EF;

In the case of Optional Insured Persons, registered with the SNP through the former Peruvian Institute of Social Security (IPSS), now Social Health Insurance (ESSALUD), entry into the SNP may be accredited by means of the corresponding registration resolution or original payment receipts.

In the event that such information forms part of the documentation accrediting the years of contribution to the SNP that support the ground for disaffiliation, it shall not be necessary to submit a new document.

Article 5.- Procedure for informed disaffiliation from the SPP

Numeral 1: Application for disaffiliation from the SPP and compliance with the requirements2

1.1 The disaffiliation procedure may be in person or remote, so that the member may submit their application and the documentation required for the procedure. The disaffiliation application may also be submitted by the beneficiaries of the deceased member, upon accreditation as such, in accordance with the rules of the SPP. For this purpose, the representative of the beneficiaries who carries out the aforementioned procedure must submit a Sworn Statement confirming their status as representative of the family group.

Likewise, the disaffiliation application may also be submitted by the beneficiaries of the deceased member, in the event that the latter has died, upon accreditation as such, in accordance with the rules of the SPP. For this purpose, the representative of the beneficiaries who carries out the

[2] Numeral amended by SBS Resolution No. 2906-2021, published on 01.10.2021.

aforementioned procedure must submit a Sworn Statement confirming their status as representative of the family group.

1.2 Pursuant to the provisions of the Law as well as its Regulation, the member may approach the AFP in order to receive guidance and information regarding the conditions and requirements of the disaffiliation process, so that they are able to gather all evidence that allows them to accredit compliance with the requirements provided by the regulation to initiate this procedure. In such circumstance, the member shall sign Section I of the Disaffiliation Application Form which, as Annex 1, forms an integral part of this operating regulation, and which shall contain at least the following information:

i. Names and surnames of the member;

ii. Type and No. of identity document;

iii. Date of birth;

iv. Place of domicile and telephone;

v. Before signing the free disaffiliation application, the member must submit a Sworn Statement declaring that they are aware of and will carry out the procedure established by each AFP for the restitution of all funds, in the event that they have withdrawn resources as a result of Laws No. 30425 and 30478 as well as other regulatory provisions related to extraordinary and optional withdrawals from pension funds, in which case said restitution is expressed in quotas, at the quota value registered on the date. For this purpose, the AFP must previously coordinate with the member the conditions and manner for carrying out the restitution of the funds.3

vi. Preliminary information on years of contribution to the SNP (expressed in months)

vii. Sworn Statement of having been informed that the mere submission of Section II of the informed free disaffiliation application entails rendering ineffective the procedures of transfer, fund change, relocation, nullity, multiple affiliation, transfers of funds abroad or others that involve movement of the CIC, as established by the SBS, as well as that it will not be possible to initiate a BdR procedure while the disaffiliation application is under evaluation, that is, as of the aforementioned Section II.

viii. Signature and/or digital fingerprint;

ix. Data of the AFP representative

x. Place and date.

1.3 When the member has gathered all the necessary documentation to accredit compliance with the requirements that will allow them to disaffiliate, they shall approach the AFP and sign both Section I and II of the Disaffiliation Application Form, indicating the ground supporting their disaffiliation as well as the pension benefit to which they would be entitled, for which purpose they shall attach the documents that support the requirements of age and/or years of contribution to the SNP, depending on the ground, on the basis of the documents indicated in the aforementioned form. In the case of workers covered under the special regimes of the SNP, the requirements and conditions established by their specific rules must be accredited and in accordance with the provisions of Annex No. 2, as well as the scope of the provisions of the Second Transitory and Final Provision of the Law.

In the event that after verifying that the member has not submitted the documentation that allows substantiating that, as of the date of his incorporation into the SPP, he met the requirements to access a retirement benefit under any of the regimes of Decreto Ley N° 19990 or that he has accumulated, at least, the minimum number of years of contribution between the SPP and the SNP that allow him to access a pension based on the specifications of the

[3] Section modified by Resolución SBS N° 2906-2021, published on 01.10.2021. Subsequently modified by Resolución SBS N° 2843-2022, published on 19.09.2022.

aforementioned special regimes, in accordance with the provisions of Anexo N° 2 or that he is included in the provisions of the Segunda Disposición Transitoria y Final de la Ley and the member insists that the application be received, the AFP shall give it the corresponding processing so that ONP issues a pronouncement regarding compliance with the requirements for access to a retirement pension or the minimum number of years of contributions to access a retirement pension in the SNP, for which purpose the member shall additionally sign Section II of the Desafiliación Application Form;

1.4 The AFP, within a period no greater than twenty (20) days from receipt of Section II of the application, must carry out the following activities:

i) Send to the ONP – within a maximum period of five (5) days from the signing of the aforementioned Section II – a duly paginated file, comprising the documents delivered by the member, in accordance with the provisions of numeral 1.3. The delivery of the files must be made in the presence of a representative of the AFP and of the ONP, so that both validate the documentation contained therein and make the corresponding delivery receipt;

ii) Issue the SPP Situation Report (RESIT-SPP), which shall contain the following information:

ii.1 Years of contribution (counted in months) made to the SPP, as well as the Number of the Recognition Bonus Application that the member has processed;

ii.2 Employment status (active as a dependent worker, or making contributions as an independent worker), reporting the member's last registered insurable remuneration in the event he performs work as a dependent worker;

ii.3 The amount of the estimated or calculated pension, depending on the cause invoked, that he would receive in the AFP, based on the balance of his CIC and the last recognized value of the BdR or BdR Title, in the event he is entitled to said benefit. In the event that the BdR is not in the situations indicated above, the value of the pension shall be determined considering the estimated value, under the conditions established by the ONP. In such case, the AFP must include the following message: “Dear member, the SPP Pension that has been estimated considers the estimated value of the BdR, adjusted based on the methodology established by the ONP, and therefore it (the pension) is subject to variation if, as a consequence of the verification process carried out by the ONP in relation to the BdR, it is determined that there is a change in the value.”

ii.4 Information on contributions accrued within the SPP, which must consider at least the following:

    - General data of the member: - Surnames and names - Current address - Type of identity document - Identity document No. - Date of affiliation to the SPP - First month of accrual to the SPP

    - General data of the employers - Name, denomination or business name - RUC No. - Start date of accrual (first contribution) - Date of last contribution

    - Contribution data by accrued period:

• Insurable Remuneration (taxable)

• Month of accrual

• Condition of the contribution (dependent or independent)

• Status of the contribution (Credited, in administrative collection or in judicial collection, insolvency proceeding, installment arrangement, paid to the SNP improperly, etc.)

• AFP

• CIC balance:

  • Mandatory Contribution to the Fund (includes interest)

  • Voluntary contribution with pension purpose (includes interest)

  • Profitability

It should be noted that, with respect to contributions accrued within the SPP and so that the ONP may have the information that allows it to calculate the differential of contributions to be paid, the AFP must guarantee that said document records all the contributions that the member had within the SPP, whether paid or not, and regardless of whether they correspond to the AFP to which he is currently affiliated or not. In such circumstance, the AFP to which he is affiliated must gather that contribution information that may have been recorded in other AFPs as a result of transfer processes.

The AFP must provide the member with a written report of the RESIT-SPP, within the period provided in this numeral. Accordingly, if the member does not agree with the RESIT-SPP, he may request its review, attaching for that purpose the evidence supporting his request, within a period no greater than fifteen (15) days counted from receipt of said information. In such circumstance, the AFP must notify the ONP on the third business day of the week following that of the filing of the claim, regarding said fact, and shall have a maximum period of ten (10) days from receipt of the review request to make available to the member a new RESIT-SPP, considering the result of the requested review. In those cases in which the member has not made any transfer throughout his pension trajectory, the AFP must issue the RESIT-SPP within a period no greater than five (5) days from receipt of Section II of the application. A similar period shall apply in those cases in which members file a claim.4

In the same manner, when the member fails to state their decision regarding the RESIT-SPP, whether by filing a claim or confirming, within the maximum period of three (3) months following the period established in the preceding paragraph, the procedure is deemed abandoned, an aspect that is notified by the AFP to the ONP, within the same period indicated in the case of Numeral 3 of Article 5 of this regulation. This condition does not prevent the submission of a new disaffiliation request if the member so desires. 5

1.5 The AFP shall send the RESIT-SPP to the ONP, within five (5) days of receiving the member's conformity with said report – under the conditions established by the Superintendency – or of the expiration of the period to file a claim regarding said document, so that the process of evaluating the member's request may be completed and it may be possible

[4] Paragraph amended by Resolution SBS No. 1597-2007 published on 09-11-2007.

[5] Paragraph incorporated by Resolution SBS No. 3693-2019 published 16-08-2019.

to determine whether the member meets the requirements that will allow them to disaffiliate, as well as for the determination of the contribution differential and the estimated pension value in the SNP. 6

Numeral 2: Qualification of the right to disaffiliation from the SPP

2.1 The ONP, once it has received the file referred to in literal i) of numeral 1.4, shall proceed to carry out the verification tasks related to the contributions made by the member within the SNP. Likewise, said entity shall have a maximum period of thirty (30) days counted from the receipt of the RESIT-SPP, delivered by the AFP, in order to evaluate and issue a decision regarding the request. Said period shall be twenty (20) days counted from the receipt of the RESIT-SPP in those cases in which the member has supported their contributions based on obtaining the Recognition Bonus. 7

2.2 To determine whether the applicant meets one of the requirements to be entitled to a pension, referring to years of contribution, the ONP shall take into consideration the following:

a) The periods in which there was effective contribution in the SNP shall be accredited, starting from the accrual period April 2007.

b) For periods prior to the month of April 2007, and only for purposes of the disaffiliation procedure, that were not recognized in the confirmed BdR or BdR Title, the accreditation of contributions made in the SNP shall be carried out through the verification of the withholdings thereof and the analysis of the additional evidence submitted by the applicant.

c) The accreditation of contributions to the SPP shall be carried out with the information contained in the RESIT-SPP sent by the AFP, validated or consented to by the member.

2.3 Once the evaluation has been carried out, the ONP shall adhere to the following procedure:

2.3.1 Actions to be taken by the ONP:

a) It sends a communication to the AFP attaching the RESIT-SNP, which shall contain, as the case may be, the following information:

• Certification of compliance with the requirements that would allow the member to obtain a retirement pension in the SNP, as well as the retirement regime to which they would be entitled or compliance with the years of contribution between the SNP and the SPP necessary to access disaffiliation, as well as the estimated SNP pension, taking into consideration the analysis of special regimes as well as the provisions of the Second Final and Transitory Provision of the Law.

• Years of contribution to the SNP;

• Years of contribution to the SNP during the period in which the worker was contributing to said system while affiliated with the SPP and that would be considered for purposes of the respective compensation. Only those contributions paid to the SNP prior to the entry into force of this operating regulation shall be subject to compensation; 8 9

• Calculation of the debt for the contribution differential between the SPP and the SNP to be paid to the ONP, for all accredited periods comprised during the

[6] Numeral amended by Resolution SBS No. 1597-2007 published on 09-11-2007.

[7] Numeral amended by Resolution SBS No. 1597-2007 published on 09-11-2007.

[8] By means of Circular No. AFP-087-2007, published on 01-11-2007, the criteria are established from which the AFPs shall conclude the collection processes carried out against employers that made the payment of contributions of their workers incorporated into the SPP, to the SNP, and that have been subject to recognition by the ONP in the contribution compensation process.

[9] By means of Resolution SBS No. 3693-2019, published 16-08-2019, it was ordered to leave without effect the deadline for the compensation of undue contributions made to the National Pension System.

permanence in the SPP, with the exception – if applicable – of those contributions that were erroneously paid by the employer to the SNP instead of the SPP and have not been returned to the employer. Said differential is determined without considering any type of surcharge, default interest, penalty or interest and shall be definitive in the event that disaffiliation occurs;

• Scenarios of the monthly installment of the cancellation of the debt for the SPP – SNP contribution differential that the member should pay, taking into account that it must not exceed 10% of the estimated SNP pension or remuneration, as the case may be, in accordance with the provisions of article 7 of Law No. 28991.

b) It keeps in its possession the file referred to in numeral 1.4 of this article.

2.4 The AFP, within a period no greater than five (5) days from receipt of the communication referred to in subsection a) of numeral 2.3.1, shall deliver or send to the member, as the case may be, under receipt, the RESIT-SNP.

2.5 In the event that said document determines that the member does not meet the conditions to disaffiliate, the AFP must inform the SBS within the aforementioned period of the list of members who would be in said condition so that the denying resolution may be issued.

2.6 The only administrative remedies that will be admitted are those filed against the resolutions issued by the SBS as a consequence of the disaffiliation request.

Numeral 3: Commitments of the affiliate

3.1 The affiliate, once having received the RESIT-SNP referred to in numeral 2.4, complying with the conditions that allow him/her to disaffiliate, may approach the AFP in order to receive guidance regarding his/her particular pension situation, and the effects of his/her disaffiliation, signs and delivers to the AFP Section III - Sworn Statement for Free Informed Disaffiliation of the Disaffiliation Request Form, in which the following must be expressly stated:

a) That he/she is aware of the scope of the irreversibility, his/her pension situation as a consequence of a possible return to the SNP, and that he/she has become aware of the terms of the calculation of the debt to the ONP for the differential of pension contributions between the SPP and the SNP; in accordance with numeral 2.3.1;

b) That he/she has become aware that the resources from his/her contributions, the profitability that they may have generated and, if applicable, the BdR, become part of the SNP, since this is a pay-as-you-go system;

c) That he/she has become aware of the estimated or calculated annual pensions that would correspond to him/her in the SPP and the SNP;

d) That he/she undertakes to assume the payment of the differential of pension contributions between the SPP and the SNP, and may make said payment according to the facilities established in article 7 of Law No. 28991 and in accordance with the schedule provided by the ONP; and,

e) That, having become aware, as the case may be, of the provisions established in Law No. 28991, its respective regulations and complementary provisions and, taking into consideration that he/she meets the conditions to disaffiliate, he/she has decided to proceed with the disaffiliation process in the SPP.

The process will be concluded, in the event that the affiliate indicates in writing his/her withdrawal from continuing with the disaffiliation procedure in accordance with the provisions established by Law No. 27444. In such circumstances, the AFP must communicate said situation to the ONP on the third business day of the week following that in which the written document was submitted, so that this entity takes note of said circumstance. However, the foregoing does not entail under any circumstance that the affiliate may not subsequently submit a new disaffiliation request, at the time he/she deems convenient.

Likewise, when the affiliate fails to submit the Sworn Statement referred to in this numeral within the maximum period of three (3) months of having been informed, by the AFP, of the RESIT-SNP, he/she will incur abandonment of the procedure, an aspect that will be notified to the ONP on the third business day of the week following the occurrence of said event. Said condition will not prevent the submission of a new disaffiliation request if the affiliate so desires.

Numeral 4: Proof of having complied with some of the disaffiliation assumptions

4.1 The accreditation of compliance with the disaffiliation assumptions will be made with the RESIT-SPP and RESIT-SNP, respectively.

Numeral 5: Issuance of the Disaffiliation Resolution

5.1 The AFP, once Section III referred to in numeral 3.1 has been signed, will send to the SBS, on the last day of each week and as a Sworn Statement, a report of eligible SPP disaffiliation requests referred to in Annex No. 3.

5.2 The SBS, once the documentation referred to in the previous numeral has been received, issues the corresponding SPP Disaffiliation Resolution, notifying it to the AFP. The issuance of the resolution and its respective notification must not exceed fifteen (15) days counted from the receipt of the information noted in numeral 5.1. 10

5.3 In said resolution the SBS will state the cause that motivates the disaffiliation. Likewise, in the event that the BdR has redeemed, it will order the return of the respective amount to the ONP plus the respective generated profitability, in accordance with the period provided by article 4 of the Regulation, counted from the date of notification of the resolution to the AFP.

5.4 The AFP, based on what is indicated in the previous numeral, proceeds to do the following:

a) Sends a copy of the disaffiliation resolution to the ONP within five (5) days of its notification, attaching a copy of Section III of the Disaffiliation Request Form - Sworn Statement - signed by the affiliate that generated the disaffiliation;

b) Communicates such situation to the affiliate, within five (5) days following receipt of the SPP disaffiliation resolution, in accordance with the provisions established in Annex IX of Title V of the Compendium, so that he/she informs his/her employer –if he/she is an employee– regarding his/her new pension situation;

c) Orders, within a period no greater than thirty (30) days from the issuance of the SPP Disaffiliation Resolution, the remission of the BdR Title to the ONP –if it has been issued in paper form– for its corresponding cancellation by this entity;

d) Proceeds with the transfer of the CIC resources, in accordance with the conditions and periods established in article 4 of the Regulation, differentiating the mandatory, voluntary contributions and profitability, as well as the periods and employers to which they correspond;11

e) Proceeds with the return of the voluntary contributions without pension purpose that the affiliate may register within a maximum period of fifteen (15) days from the notification of the Resolution of

[10] Numeral modified by SBS Resolution No. 1597-2007 published on 09-11-2007.

[11] By means of Circular No. AFP-093-2008 published on 21-05-2008, complementary provisions were established for the transfer to the ONP of the CIC balances for effects of the Free Disaffiliation of the SPP.

Disaffiliation. For said purpose, the AFP must notify –previously– the affiliate regarding the aforementioned return.

5.5 From the month following notification of the copy of the resolution to the employer by the ONP, the member shall begin accruing in the SNP, so from that month onward it shall be for the employer to deposit the withholdings in favor of the SNP. All payments made to the SPP by the employer for periods after the date of notification of the Disaffiliation Resolution constitute undue payments to the SPP and may be returned by the AFP at the request of the employer. The foregoing does not relieve the employer of its obligation to regularize payments to the SNP.

5.6 It should be noted that, for purposes of regularizing the contribution differential, the following must be considered:

5.6.1 Applicable payment modalities

a) The contribution differential to the SNP may be paid in installments, depending on whether the member is a dependent or independent worker, in the form, term and conditions established in the complementary rules issued for such purpose.

b) If there is debt for contribution differential, as of the date of applying for a retirement pension under the SNP, the total balance shall be deducted from the accrued amounts, once the pension is granted under the SNP, without prejudice to additional deductions of up to 10% of the monthly pension, in the event that the accrued amounts do not cover the balance of the contribution differential.

5.6.2 Responsibility for making the payment of the contribution differential in the event of a change in employment situation

The responsibility for making the payment of the contribution differential shall be determined according to the member's employment situation at the time the payment of the contribution differential corresponds and in accordance with the following paragraphs.

5.6.3 Payment of the contribution differential with withholding from remuneration

a) If the member who opts to return to the SNP is working under an employment relationship and decides to make the payment of the contribution differential in installments, the employer must withhold and pay, under its responsibility, the monthly amount of the installment quotas. The amount of these quotas shall be equivalent to 10% of the worker's current remuneration, and may be a lower percentage in the case of the last quota.

b) In cases where ESSALUD pays the subsidies directly, the insured persons themselves shall be responsible for making the payment of the differential under the same conditions as independent workers.

c) In cases where it corresponds to the employer to pay the subsidies directly, the employer shall be responsible for making the payment of the contributions.

In any case, it is the responsibility of the member to inform the ONP regarding any eventual changes in their employment situation that may affect the payment of the differential, insofar as regularization constitutes a requirement to access pension benefits under the SNP.

5.6.4 Payment of the contribution differential by members without an employment relationship

The payment of the contribution differential may be settled in installments, under the conditions and terms established for such purpose by the ONP.

5.6.5 Payment of the contribution differential by pensioners who opt for installment payment

a) The ONP shall deduct the contribution differential from the amount of the accrued amounts when issuing the pension resolution.

b) If after making this deduction there is an outstanding balance for contribution differential, it shall be settled with a monthly deduction of up to 10% of the pension.

Numeral 6: Administrative Appeals

6.1 The member, against the resolution issued by the SBS based on the information provided by the ONP and AFP, may file the corresponding administrative appeals, within the framework of the General Administrative Procedure Law, approved by Law No. 27444. If deemed appropriate, they shall submit said appeal to the AFP, which in turn shall forward it within a period no greater than five (5) days, counted from its receipt, to the SBS so that it may evaluate whether the administrative appeal is within the period established in Law No. 27444. If the appeal was filed within the period, according to the SBS's analysis, and it refers to the RESIT-SNP, it shall request a report from the ONP, so that the latter, within a period of twenty-five (25) business days counted from the request for information by the SBS, issues the corresponding report.

6.1.1 Once the pronouncement has been issued by the ONP, said report shall be transferred to the SBS, which in turn shall issue a resolution deciding the administrative appeal, whether it be Reconsideration or Appeal. Said resolution shall be sent to the AFP, which within a term no greater than five (5) days of receipt, shall deliver it to the member, thereby exhausting the administrative route in the case that the resolution is the one that decides the Appeal.

6.1.2 The foregoing does not imply the impossibility for the member to subsequently initiate a new disaffiliation procedure if they consider that, on that occasion, they meet the requirements established by the regulations for such purpose.

6.2 It should be noted that, in accordance with the provisions of article 1 of the Regulation, the Resolution authorizing disaffiliation does not generate an automatic retirement pension under the SNP, since the member must carry out their procedure before the ONP.

6.3 After the disaffiliation has occurred and at the time the retirement procedure is carried out before the ONP, the member may request the review of the years of contributions made to the SNP.

Numeral 7: Deadlines for non-in-person notification

The deadlines provided in this article, linked to the AFP's obligation to deliver to the member a certain type of document, shall be increased by ten (10) days, in those cases where - being an in-person procedure - the deadline for the member to collect them had expired and they had not done so and the AFP must send them via notification to the member's domicile.

Article 6.- Contributions withheld and not paid within the SPP

In accordance with the provisions of Article 8 of the Law, the AFPs are responsible for initiating the corresponding collection actions and continuing them until their conclusion, with respect to those contribution periods that are unpaid within the SPP. The amounts recovered by the AFP must be transferred to the SNP in accordance with the provisions of the complementary rules established for such purpose by the ONP in coordination with its collecting entity.

Article 7.- Public service channels. Administrative infraction12 .

[12] Amended by Resolution SBS No. 2906-2021, published on 01.10.2021.

The AFPs may choose to process the disaffiliation requests submitted by members at all their public service agencies and/or at other in-person establishments or virtual channels nationwide.

The AFP informs the members during the orientation carried out at the beginning of the disaffiliation process of the channels enabled for the submission of the information and documentation required at each stage of the process, as well as those enabled for the AFP to send information to the member.

In this sense, in the event that, individually or through the Association that groups them, other public service establishments are set up in order to serve the population affiliated with the SPP that wishes to disaffiliate, the AFP will continue to be responsible before the SBS with respect to compliance with the obligations and deadlines established in this Operating Regulation, in the activities that are within its competence, in which case, the references contained in this document must be understood as made to the aforementioned establishments.

In accordance with the provisions of the Fourth Final Complementary Provision of the Regulation, the breach of any aspect provided for in this operating regulation –with the exception of that indicated in the following paragraph–, as well as the refusal to attend to requests for information made by the AFP before which the disaffiliation process is being carried out, to the other AFPs in which the member had remained at some point as a result of a transfer, will be classified as a serious infraction, subject to sanction in accordance with the provisions of the regulations.

Likewise, the delay incurred by the AFP with respect to the deadlines provided for in this Operating Regulation constitutes a minor infraction, subject to sanction in accordance with the regulations of the SPP.

Article 8.- Systematization of the disaffiliation procedure

In order to facilitate the performance of the tasks related to the management and processing of disaffiliation requests, the AFPs may enable the means of registration and exchange of information -with official value among the entities participating in the process- that are necessary in order to optimize the process of sending and receiving relevant information related to the disaffiliation procedure. In such circumstance, the AFPs are responsible for guaranteeing, in addition to the operability of said tool, the security and confidentiality of the information that is supplied through said means.

In any case, if for any technical circumstance the tools that had been developed for the purpose of supporting the disaffiliation process are not operational, the AFPs must implement contingency procedures in order to maintain the continuity of the procedures, in accordance with the deadlines and conditions established in this norm.

Article 9.- Incompatibility of procedures within the SPP13

Given the nature of the free informed disaffiliation procedure, the procedures of transfer, fund change, relocation, nullity, multi-affiliation, transfers of funds abroad or others that the SBS establishes and that could involve the movement of the CIC, will be rendered ineffective with the mere presentation of Section II of the Disaffiliation Request. In such circumstance, the AFP must record said restrictions at the time the member approaches to receive orientation regarding the disaffiliation process. Likewise, with respect to the BdR procedure, no new procedures may be initiated while the Disaffiliation Request is under evaluation.

[13] Heading amended by Resolution 3693-2019 published 16-08-2019.

In accordance with the provisions of Articles 5 and 6 of the Informed Disaffiliation Law, Article 4 of its Regulation and section ii.3 of numeral 1.4 of Article 5 of this operating regulation, the balance of the CIC referred to in section ii.4, as well as subsection d) of numeral 5.4 of this regulation, comprises the totality of the mandatory contributions made in the capacity of member of the SPP, for which it is specified that, in the event that the pension resources had been affected by the effect of the availability referred to in Laws No. 30425 and No. 30478, in order for a disaffiliation request from the SPP to proceed, the totality of the withdrawn funds must have been restored in the AFP, valued on the date based on the number of quotas that were subject to withdrawal. For such purpose, the AFP must previously coordinate with the member the conditions and form to carry out the restitution of funds. 14

TITLE III SPECIAL EARLY RETIREMENT REGIME IN THE SPP (REJA 28991)

Article 10.- Procedure for access to REJA 28991.

The operating procedure for access to REJA 28991 shall be subject to the provisions of Supreme Decree No. 100-2002-EF and its complementary norms, with the following particularities:

Numeral 1: Presentation of Early Retirement Pension Requests

The member shall present, before the AFP, an Early Retirement Pension Request, attaching the following documents:

1.1 Those indicated in literals a), b) and c) of Article 43 of Title VII of the Compendium of Regulatory Superintendency Rules of the SPP, approved by Resolution No. 232-98-EF/SAFP and its amendments.

1.2 In the case of dependent workers: Annual Income Tax Return for Fifth Category, Settlement for Time of Service, Sworn Statement of the Employer, or legalized copy of the work certificate issued by the last employer where he/she had performed work as a dependent worker; in the absence of said document, legalized copy of the settlement of social benefits or of the certificate of withdrawal of the Compensation for Time of Service due to termination of the employment relationship, or the sworn statement referred to in numeral v. In those cases where the period of one hundred twenty (120) months includes some months in which he/she was not incorporated into the SPP, he/she must present a legalized copy of the pay slips.

1.3 In the case of independent workers: legalized copy of the Fourth Category Income Tax Withholding Certificate, copy of the Sworn Tax Statement or of the receipts of the payments on account, for income actually received in the last one hundred twenty (120) months prior to the unemployment situation, required of the worker who - as an independent worker - was not affiliated with the SPP.

1.4 In the periods corresponding to his/her affiliation with the SPP, the remunerations and income recorded as insurable remuneration effectively accredited for the purpose of payment of contributions shall be considered. However, in the case of the independent worker, in order to be consistent with the provisions of SBS Resolution No. 922-2007, both for the determination of the average remuneration referred to in literal c) of the Regulation and for the determination of the contribution density referred to in literal

[14] Paragraph incorporated by Resolution 3693-2019 published 16-08-2019.

d) of the aforementioned legal provision, only those contributions that are paid in the corresponding month shall be taken into account. Contributions that are regularized (payment made in months subsequent to their respective accrual) shall only have as their purpose the accumulation of funds in the balance of the CIC of mandatory contributions.

1.5 Sworn statement of not having received income classified as fourth and/or fifth category for Income Tax purposes, while in a situation of unemployment, for a period of no less than twelve (12) consecutive and uninterrupted months, prior to the month of presentation of the Application for Early Retirement Pension.

Numeral 2: Processing of applications, redemption of the BdR and quotation of definitive pensions

Once the AFP has received the documentation referred to in the previous article, it shall proceed to do the following:

2.1 Verify compliance with the requirements established in article 17 of the Law, as well as the conditions indicated in article 17 of Chapter IV of Title I of the Regulation, in order to determine access to the Special Early Retirement Regime.

2.2 For the purposes of accrediting the contribution density referred to in subsection d) of article 17 of the Law, the AFP shall take into consideration those contributions that, by virtue of the independent status, the affiliate had made during the period in which he/she was in a situation of unemployment, referred to in subsection b) of article 17 of the aforementioned Law.

2.3 The period of one hundred twenty (120) months that serves as a reference to determine the average remuneration referred to in literal c) of article 17 of the Law shall be computed from the last month in which contributions were made to his/her Individual Capitalization Account, prior to the longer period of twelve (12) consecutive and uninterrupted months in a situation of unemployment.

2.4 Once the documentation has been reviewed, it shall proceed, as applicable, with the evaluation provided for in numerals 3 and following of section II of article 3 of the Operating Regulation of the Special Retirement Regime for Unemployed Persons – Law No. 27617 referred to in SBS Resolution No. 561-2002.

2.5 If the affiliate qualifies with the requirements demanded in the Law, and as long as the BdR has not been redeemed, he/she shall be subject to the granting of preliminary pensions under Programmed Withdrawal referred to in article 121 of Title VII of the Compendium of Regulatory Superintendency Rules of the SPP, which shall be made against the CIC of mandatory contributions.

2.6 For the purposes of redeeming the BdR, six (6) months before the probable date of exhaustion of the CIC, the AFP must inform the ONP regarding said event, so that the appropriate measures are adopted to guarantee the continuity of the pension payments of the affiliates.

2.7 Once the redemption value of the affiliate's BdR has been accredited, as a result of the exhaustion of the CIC, he/she may initiate the contribution process referred to in Title VII of the Compendium of Regulatory Superintendency Rules of the SPP.

Article 11.- Information to the affiliate

The AFPs must place at the bottom of the Pension Application for accession to this type of benefit the following text: “Dear affiliate, you must take into account that access to this regime called REJA 28991 entails that the Recognition Bonus will only be redeemed once the balance of your CIC of mandatory contributions has been exhausted, so the definitive pension that you may contract could be below the values that would have corresponded to you if you had contracted a pension with the total of your account. Take special care of this aspect before signing this application, since, subsequently, you will not be able to invoke any benefit with state guarantee in the event that you meet the requirements to access that type of benefits. Be informed.”

Article 12.- Evaluation fee for access to the Regime

The technical interest rate to determine access to the Special Retirement Regime created by Law No. 28991 shall be 3.90%. Said rate shall likewise apply to the evaluation process of early retirement applications referred to in Article 42 of the Single Ordered Text of the SPP Law.

The aforementioned technical interest rate replaces that established in numeral 4 of Circular No. AFP-020-2002.

FINAL PROVISION

Sole.- With regard to the treatment applicable to self-employed workers who request access to REJA 28991, the provisions set forth in section 1.4 of numeral 1 of Article 10 of this resolution shall be enforceable with respect to those contributions made to the SPP as of the entry into force of SBS Resolution No. 922-2007, that is, as of 17.07.2007.

AFP Logo

ANNEX No. 3 REPORT OF SPP DISAFFILIATION APPLICATIONS

By this document, I ________________________________ representative of AFP ___________, with identity document No. [], state under oath the following:

a) That the documentation supporting each Report of SPP Disaffiliation Applications detailed below is true.

b) That a copy of the files listed in this report is in the possession of the Private Pension Fund Administrator.

c) That the grounds for disaffiliation from the SPP comply with the provisions of Law No. 28991 and the regulatory and complementary provisions issued thereunder.

d) That both the CUSPP and the disaffiliation file number correspond to each worker affiliated with the AFP mentioned in this list.

Surnames and names	CUSPP	Ground for disaffiliation	File No. (internal)

Lima, …… of …………………. of …….
Signature of the AFP Representative

ANNEX No. 1 REPORTED DISAFFILIATION APPLICATION (Reverse Section I)

REQUIREMENTS FOR DISAFFILIATION

Those affiliates of an AFP who fall under one of the following cases may request disaffiliation from the SPP and return to the SNP:

a) Those who had entered the SNP up to 31 December 1995, provided that at the date of the disaffiliation application they meet the corresponding years of contributions between the SNP and the SPP, in order to be entitled to a retirement pension in the SNP.

b) Those who, at the date of their incorporation into the SPP, met any of the following requirements:

b.1 Be at least 65 years of age and have 20 years of contributions to the SNP

b.2 If male, be at least 55 years of age and have 30 years of contributions to the SNP

b.3 If female, be at least 50 years of age and have 25 years of contributions to the SNP

b.4 Workers who met the requirements to be entitled to a pension under any of the special retirement regimes in the SNP, other than those indicated in subparagraphs b.2 and b.3 and detailed in Annex No. 2–Requirements to attain the right to a Pension in the SNP.

DOCUMENTS TO BE ATTACHED TO THE DISAFFILIATION APPLICATION

Dear affiliate: The information contained herein is for reference only. The ONP shall establish, by general provision, the type of documentation and its conditions, which shall serve to support this disaffiliation procedure.

1. Valid Identity Document.

2. Sworn Statement stating the information of your potential beneficiaries

3. Work certificate(s) with updated addresses of the location of payroll books.

4. In the case of an Optional Insured, registered with the SNP through the former Peruvian Social Security Institute (IPSS), now Social Health Insurance (ESSALUD), present the corresponding registration Resolution or payment receipts.

5. Water or electricity bill of the domicile where the applicant resides, in copy.

6. Settlement of social benefits with signature and/or seal of the employer.

7. Certificates of 5th category withholding.

8. Pay slips with signature and/or seal of the employer.

9. Sworn Statement of the Employer only in the case of a Legal Person or Undivided Estate, signed by the legal representative, a condition that shall be accredited with the literal copy of the corresponding record issued by the Public Registries, in which it is stated that the corresponding withholding to the National Pension System in favor of the affiliate existed.

10. Evidentiary documents of contributions issued by the former IPSS or ESSALUD.

11. Sworn Statement of the insured in accordance with the conditions set forth in Supreme Decree No. 082-2001-EF.

12. Other documents with which the contributions made to the National Pension System can be accredited in accordance with current legal provisions.

ADDITIONALLY IN CASE OF BEING:

Professional Driver Regime:

1. Driver's License/Permit or the report of its loss.

2. Proof of having belonged to a transport guild, if applicable (simple legible copy)

3. Property Card (Simple legible copy)

4. Payment Receipts (originals)

5. If the means of transport used was rented, rental contract. (Simple legible copy)

6. If you contributed as a self-employed professional driver, driver's license or police report for loss, payment receipts (originals), vehicle property card (simple copy) or rental contract (simple copy) if the means of transport was rented, and proof of having belonged to a transport guild, if applicable (simple copy).

Domestic Workers:

1. Sworn Statement of the Employer.

2. Sworn Statement of the Worker.

3. Payment Receipts.

4. If you worked as a domestic worker, you must present the payment receipts (originals) if they were not issued by the ONP and the original of the sworn statement of the employer and the worker.

Housewives:

1. Registration Resolution as Optional Independent or as Housewife, if it was not issued by the ONP.

Workers who performed tasks related to special retirement regimes (miners, civil construction, etc.)

1. Certificate of work, or similar document, indicating the type of tasks they performed.

POTENTIAL BENEFICIARIES

Both the SPP and the SNP have different criteria regarding potential beneficiaries, so you must declare both those who are considered in the SPP and those who, while not being recognized in the SPP, could be recognized within the SNP, in accordance with the following:

Beneficiaries for the SPP

a) The spouse or cohabitant as established in Article 326 of the Civil Code;

b) Children under 18 years of age, or over 18 years of age who are totally and permanently incapacitated for work, in accordance with the opinion of the competent medical committee;

c) The father and/or mother of the affiliated worker provided they meet any of the following requirements:

i) That they are totally or partially disabled, in the judgment of the competent medical committee; or,

ii) That they are over sixty (60) years of age and have been economically dependent on the deceased. Economic dependency is recognized for those parents who do not receive income or who, while receiving income from dependent or independent work, or having pensioner status, have a monthly income lower than the RMV in force at the date of occurrence of the accident.

Beneficiaries for the SNP

a) Spouse (in the case of men, the right is recognized if at the time of the deceased's death the beneficiary was over 60 years of age or, if younger, was incapacitated for work; likewise, they had to be economically dependent on the deceased at that date);

b) Children under 18 years of age always have the right to the pension, while those over that age only have the right if they continue basic or higher level studies, or are incapacitated for work); and,

c) Ascendants (mothers over 55 years of age or incapacitated for work and fathers over 60 or incapacitated for work at the date of death have the right to a pension. Additionally, they must have been economically dependent on the deceased and must not receive income higher than the probable pension). Likewise, there must be no beneficiaries of a widow's or orphan's pension, or if such beneficiaries exist, there must be a remaining balance of the deceased's pension after deducting the widow's and orphan's pensions.