2023 Pension Increase for ONP Pensioners: New Amount and When to Get It | Answers

There are thousands of people who have joined a pension system. And, within this group, there are many others Office of Normalization of Pension (ONP). In this context, due to the loss of purchasing value due to inflation in our country, the government has officially announced an increase in pension to help ONP pensioners meet their needs.

Increase for ONP retirees: who are the beneficiaries and from when according to El Peruano

Based on the above, there are more than 600,000 pensioners of Decree Law No. 19990 who are beneficiaries of the minimum pension increase. Included in the increase is a proposal to reform the nation’s pension system that the executive branch will present at the end of September. The target is valid next year.

On the other hand, it is also reported that this is the first time that a pension of at least 360 soles has been granted:

-Fishery regime pensioners

– Beneficiaries belonging to Fisherman’s Fund in deduction.

In both the cases, unfortunately, it is worth mentioning that they get a small amount of pension, so this increase will help them meet their needs and have a better life. The increase already has the approval of the Supreme Decree, which will be published in the official gazette A Peruvian In the coming days.

Finally, according to Economy and Finance Secretary Alex Contreras, the proposal will be taken from the executive branch to the Republican Congress, with the proposal expected to be approved by the end of September.

What is ONP?

The ONP recognises, entitles, settles and pays pension entitlements in accordance with the legal framework.

ONP mission

“Guarantee the proper functioning of pension schemes and insurance and efficient management of allocated pension funds in order to achieve a greater number of insureds enjoying adequate pension benefits through quality care that builds confidence in citizenship”.

ONP: Operations

• 19990 to recognize, declare, qualify, verify, grant, liquidate and pay pension rights in accordance with the law of the National Pension System referred to in the Ordinance Law of 1999, entrusted or delegated pension regimes, as well as the regime of work accidents and occupational diseases, Ordinance Law no. 18846;
• inform the compulsory and optional insured and guide them on their rights and requirements to access pension and other retirement benefits within their jurisdiction;
• maintain accounting records and prepare financial statements relating to the pension schemes under your responsibility and the pension funds you administer;
• Eligibility, Grant, Liquidation and Payment of Recognition Bonus as specified in Private Pension Fund Management Organization Act, Additional Recognition Bonus – BRC Act no. 27252 referred to, Supplementary Minimum Retirement Bonus – BCPM and Early Retirement no. 19990 – Act no. 27617 of the BCJA, as well as Emergency Ordinance no. 007-2007 and Law no. 28991 for supplementary pensions and other obligations derived from its purposes, as per law;
• Coordinating with the National Surveillance of Customs and Tax Administration – Necessary measures to control the contributions collected by SUNAT; receiving information necessary for its administrative processes and supervising the use of delegated administrative powers in accordance with the provisions of the agreements between the signed institutions;
• Conduct administrative procedures connected with the contribution of pension systems, in accordance with the current legal framework;
• Periodically carry out studies and reports related to its organizational objectives, issue regulations that contribute to better compliance with these, and comment on projects of legal provisions directly or indirectly related to pension systems under its responsibility;
• Act as Technical Secretariat of the Board of Directors of Consolidated Pension Reserve Fund – FCR;
• approve and manage your budget in accordance with legal provisions on this matter;
• In this case, in accordance with current regulations and within the scope of the respective reinsurance contract, the Pension Standardization Office – ONP concludes with an insurance company duly authorized for this purpose. insurance;
• Eligibility, Issue, Settlement and Payment of Pension for Supplementary Insurance of Supplementary Risk Employment Insurance – SCTR vide Supreme Ordinance no. 009-97-SA approved by Act No. 26790 referred to in Section 88 of Regulation;
• design, rationalize and improve operational processes and procedures;
• Keep the technical platform of the Office of Pension Normalization – ONP operational and updated;
• Carry out periodic inspections and make necessary recommendations for the proper administration of pension systems under your charge;
• Carry out necessary inspection activities regarding pension entitlements in the organizations under their responsibility and ensure disbursement as per law. ONP may determine and impose sanctions and precautionary measures in accordance with legal and regulatory standards;
• Conducting or entrusting the collection of assessment and debts of pension schemes, as well as related interests, penalties and arrears;
• Providing measures to guarantee compliance with the actions indicated in functions “o” and “p” above, including, if necessary, the use of coercive means; and,
• exercise any other powers derived from its purposes and others expressly conferred by law.