Peru's Superintendency of Banking, Insurance and Pension Fund Administrators (SBS) approved an operational regulation setting principles and guidelines for Pension Fund Administrators (AFPs) to evaluate retirement access for fisheries workers affiliated with the Private Pension System (SPP), following changes to the fisheries workers’ social security regime. The framework is intended to improve access to pension and non-pension benefits through a more efficient assessment process that reflects the specific risks and conditions of this population. The regulation (Resolution SBS No. 1120-2026) establishes two routes: retirement as a fisheries worker within the SPP, allowing access to existing options including withdrawal of accumulated funds and/or an old-age pension via annuity or programmed withdrawal, and access to the Complementary Rescue Pension (PRC), under which the State guarantees lifetime financing for former Caja de Beneficios y Seguridad Social del Pescador (CBSSP) members when the SPP pension would be lower than what would have been received under CBSSP. Eligibility applies from age 55, with at least 25 years in fisheries work and at least 375 contribution weeks across the SPP and CBSSP, as set out in Supreme Decree No. 024-2025-EF amending regulations under Law No. 30003. To support execution, AFPs must provide ongoing clear information and guidance, ensure pension payment from the point of retirement with PRC top-ups while the National Pension Standardization Office (ONP) confirms entitlement, and streamline case evaluation through more efficient AFP–ONP interaction; the SBS will supervise compliance and service quality.
Superintendencia de Banca, Seguros y AFP del Peru 2026-04-17
Peru's Superintendency of Banking, Insurance and Pension Fund Administrators sets operational rules for AFPs to assess fisheries workers’ retirement access and Complementary Rescue Pension
The Superintendency of Banking, Insurance and Pension Fund Administrators of Peru has approved an operational regulation (Resolution SBS No. 1120-2026) setting principles and guidelines for Pension Fund Administrators to assess retirement access for fisheries workers in the Private Pension System. The framework defines routes for retirement and access to the State-backed Complementary Rescue Pension, sets eligibility criteria aligned with Supreme Decree No. 024-2025-EF, and requires enhanced information provision, coordinated processing with the National Pension Standardization Office, and supervisory oversight by the Superintendency.