Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) published draft amendments to the rules governing the customer service channels of pension fund administrators (AFPs), aimed at requiring AFPs to develop, implement and promote alternatives to in-person servicing for members of the Private Pension System (SPP) and the general public. The proposal seeks to update the general framework to support a shift in operating models and greater use of technology, while maintaining service quality and enabling SPP procedures to be carried out without visiting AFP branches. Under the draft, AFPs would have to implement a channel-based service model that allows the registration and tracking of all SPP procedures, and the handling of requests and complaints from members and the public. AFPs would also need to keep an updated and accessible list of service channels, including branch addresses, phone numbers, website address and opening hours, and to inform users that third-party intermediaries are not required to complete procedures. Additional requirements cover matters such as channel opening hours and infrastructure, reasonable response times, and clarity of user-facing messages. Comments and suggestions from industry and the public are invited until 13 February 2025.
Superintendencia de Banca, Seguros y AFP del Peru 2025-01-13
Peru's Superintendency of Banking, Insurance and Private Pension Funds consults on updating AFP service-channel rules to expand non-face-to-face servicing
Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) released draft amendments to enhance customer service channels for pension fund administrators (AFPs). The proposal mandates AFPs to adopt technology-driven service models, enabling procedures without branch visits, and requires clear communication about service channels and third-party intermediaries.