Peru Congress bill allows AFP withdrawals up to S/22,000 for El Niño, bypassing pension reform limits

A Peruvian congressional proposal would permit up to four UIT withdrawals (max S/22,000) from private pension funds (AFP) for El Niño-related needs, exempting these from the pension reform's withdrawal restrictions while preserving the minimum pension of S/600. The bill is in early legislative stages; its passage and economic impact remain uncertain. If enacted, it could reduce pension savings and add fiscal pressure, but current market impact is limited.