Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) has amended the operating rules for the procedure that allows affiliates of the Private Pension System (SPP) to withdraw up to 25% of their pension savings to finance the purchase of a single urban residential property, implementing Law 32123 and its regulations. Under the updated rule, any reference in the previous framework (including SBS Resolution No. 3663-2016 and its amendments) to a “first property” is to be read as a “single urban property intended as a dwelling”. An “urban property” is defined as an asset covered by Article 885 of the Civil Code that is registered or registrable in the SUNARP property registry, classified as an urban property and used for housing. The 25% withdrawal may be used either as a down payment for the purchase or to amortise a mortgage taken out for that purchase, provided the loan was granted by a financial system entity or a savings and credit cooperative that operates only with its members, is not authorised to take public funds or operate with third parties, and is classified as level 2 or 3 in the national registry of non-deposit-taking savings and credit cooperatives.
Superintendencia de Banca, Seguros y AFP del Peru 2025-10-17
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators aligns 25% pension withdrawal rules with the single urban home requirement
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) has revised rules allowing affiliates of the Private Pension System to withdraw up to 25% of their pension savings for purchasing a single urban residential property, in line with Law 32123. The updated rules redefine "first property" as a "single urban property intended as a dwelling" and specify conditions for using the withdrawal as a down payment or mortgage.