Peru to allow pension transfers between AFP and ONP in 2027

Starting June 1, 2027, affiliates in Peru will be able to request their first transfer between the private pension system (AFP) and the national pension system (ONP) through a digital platform known as the Plataforma de Afiliación Segura y Transparente (PAST).

Key regulations for these transfers include a requirement for a minimum 24-month stay in a destination regime for any subsequent moves after the initial transfer. Experts advise that individuals should not merely compare current balances, but rather evaluate projected future pensions to ensure long-term financial security.

When transferring from the ONP to an AFP, contributions made to the national system are not immediately transferred as cash to the new individual capitalization account. Instead, the regulations establish a mechanism to recognize previous contributions, which may include access to a recognition bond once specific requirements are met.