Peru's Superintendence of Banking, Insurance and Private Pension Fund Administrators (SBS) has established a general framework requiring pension fund administrators to identify deceased affiliates in the Private Pension System and proactively contact and assist their beneficiaries or heirs when no survivor pension or inheritance claim has been started. The measure addresses cases where deceased affiliates still hold balances in individual capitalization accounts and is intended to help families access survivor pensions or, if there are no beneficiaries, the account balance as part of the estate. Each administrator must design a strategy with at least three actions: verify deaths by cross-checking data with entities that provide mortality information, send a notice to the deceased affiliate's last known address within 15 calendar days of learning of the death, and publish a semiannual list of deceased affiliates in a national newspaper and an updated list on its website. From September 2026, families will be able to use those website disclosures to seek guidance and start the relevant claim, and the SBS will publish links on its own website to the specific pages of each administrator. The framework also sits alongside the pension modernization law, under which unclaimed balances of deceased affiliates transfer to ONP after 10 years if there are no heirs.
Superintendencia de Banca, Seguros y AFP del Peru 2026-05-15
Peru's Superintendence of Banking, Insurance and Private Pension Fund Administrators requires 15 day notices and public disclosures for deceased affiliates' pension balances
Peru’s Superintendence of Banking, Insurance and Private Pension Fund Administrators has set a framework requiring private pension fund administrators to identify deceased affiliates and proactively assist beneficiaries or heirs when no survivor pension or inheritance claim exists. Administrators must verify deaths using external mortality data, notify at the last known address within 15 days, and publish semiannual lists of deceased affiliates in a national newspaper and on their websites, which the authority will also link to.