At a glance
- Supreme Decree No. 189-2025-EF approves regulations for the Law on the Modernization of the Peruvian Pension System.
- The New Integrated Pension System (NSIP) introduces a clear and mandatory scheme for pension savings, more options, and digital channels.
- From June 2027, every Peruvian who turns 18 will have 12 months to choose between the public (SNP) or private (SPP) pension system.
- Contributions are mandatory for employees and independent contractors, with optional and voluntary contributions available.
Supreme Decree No. 189-2025-EF approves regulations for the Law on the Modernization of the Peruvian Pension System. The NSIP introduces a clear and mandatory scheme for pension savings, more options, and digital channels.
From June 2027, every Peruvian who turns 18 will have 12 months to choose between the SNP or SPP pension system.
The types of contributions
Mandatory:
- For employees, the current scheme will remain:
- SNP: 13%
- SPP: 10% + insurance + comission.
- Independent contractors: Contributions will begin in 2028, with progressively increasing rates.
Optional:
- For affiliates without an employment relationship.
- It starts in January 2028.
- At registration, they must declare income not lower than the statutory minimum wage.
- Designed to continue contributing during periods without employment.
Voluntary:
- Additional, discretionary contributions to improve the future pension.
- May be funded by the affiliate, the employer, the State (eg incentives), or third parties.
- Intangible and not subject to attachment.
The PAST platform ensures secure and transparent affiliation, neutrality, traceability, and data protection.
Independent contractors
As of 2028, independent contractors must register within ten days of starting to perform their services.
- The contribution is calculated on fee receipts (independent professional income), with a gradually increasing rate:
- 2% (2028–2029).
- 3% (2030–2031).
- 4% (2032–2033).
- 5% (as of 2034).
- The contracting party must verify affiliation on the PAST platform, withhold contributions, and transfer them to the system.
Foreign workers
- Mandatory if they work in Peru or earn fourth-category income (independent professional fees).
- The deadline for affiliation is ten calendar days after the first working date or, as from January 1, 2028, in case of starting activities for which fourth category income is received.
- They must demonstrate their affiliation to the employer or withholding agent, who should make the corresponding withholding.
- Exemptions apply to those covered by international treaties on social security, signed by Peru.
Special contribution based on consumption
Part of the affiliates' expenses can be converted into a pension contribution:
- Base for calculation (BC): Eight tax units per year. The contribution is capped at 1% of the BC.
- Only purchases up to PEN700 are counted.
- Amounts are deposited into an intangible, non-attachable account.
Transfer of contributions between pension systems
- Affiliates can switch between the SNP and the SPP.
- The process is carries out on the PAST platform.
- Mandatory and voluntary contributions are transferred without loss of accrued rights.
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