How to check your AFAP, choose a manager, and whether you can withdraw the money

Your AFAP account is your retirement savings, in your name. But few people know how to look at it, how to choose a good manager, or what can be done with that money. Here are the answers, step by step.

1. How to find which AFAP you're in

If you don't remember your AFAP, the fastest route is the BPS. With your personal BPS user you can see it online:

Per the BPS:

«Si cuenta con Usuario personal BPS, podrá acceder a esta información ingresando a los servicios en línea, dentro de Mi información/Ver detalle.»

In English: If you have a personal BPS user, you can access this information by entering the online services, within My information / View detail.

2. How to see your balance (account statement)

To see how much you've accumulated, log in to your AFAP's portal or app (República, Sura, Itaú or Integración) with your digital identity. There you see your balance, the contributions received and the returns. The AFAP is also required to send you a periodic statement. If you've never looked, that's the first step.

3. How to choose your AFAP

The four AFAPs don't charge the same or perform alike, and that impacts your pension. Don't look at the advertising: look at the data. The Central Bank publishes, for each AFAP, the commission it charges and the net return (what it yields after fees). The simple rule: all else equal, prefer a lower fee and a higher net return.

4. How to switch (traspaso)

You're affiliated to a single AFAP at a time, but you can switch. The usual requirement is having at least six months of contributions in your current AFAP; the procedure is done directly at the AFAP you choose, with your ID document. Your accumulated capital moves with you. It's free.

5. Can you withdraw the money? (the million-dollar question)

The short answer is no: the AFAP account isn't a bank or a savings account you can draw from whenever you like. That money is earmarked for your retirement and is released only then. At retirement, the balance funds a monthly benefit (generally a life annuity). Withdrawing the accumulated capital exists only in specific cases (e.g. small balances or no retirement causal). The conditions are set by the BPS:

Two more things you can adjust

Without changing AFAP, you can switch sub-fund (more or less risk by your age) and you can make voluntary contributions to improve your pension. The details of how your account works are in our in-depth AFAP account post.

At a glance

In short: you check your AFAP at the BPS, your balance in the manager's portal, you choose by comparing at the BCU, you can switch every six months, but you can't withdraw the money before retirement. Check your account today and, when in doubt, ask your AFAP or the BPS.