Accessing AFP funds from abroad

[willienelson]

Hi all

My wife, chilena, is attempting to access her AFP funds from abroad (Europe). She has about 2 million pesos in it and has heard different information on how much she can withdraw. Is it true that she may withdraw up to 1 million pesos on the basis that she has only 2 million invested?

Thanks as always!

[tiagoabner]

She can withdraw 10% of her AFP savings, with a $1.000.000 minimum withdrawal for those that have more than $1.000.000 and less than $9.999.999 saved. If she has $2 million saved, then she can withdraw $1 million.

Source: https://www.chileatiende.gob.cl/fichas/ ... dos-de-afp

[willienelson]

Thanks! She just got the million, wasn’t too arduous in the end. Does anyone know if , under the rules of the second withdrawal coming up, she can withdraw her last million?

[bow26]

My understanding of the rules is that she can now get the other million out. If you leave your account completely cleared out, that isn’t a problem.

Apologies in advance for hijacking your thread but since my query is related- I’ve been trying to help my sister clear out her AFP since the first retiro.

She lives in Europe - carnet long since expired and no permanent residency so she can’t renew it - and AFP Plan Vital has rejected her request and advised she should go to the Consulate.

Has anyone done this successfully, with or without consulate visit?

Apart from the fact the consulate visit is tricky in these times, Plan Vital are telling her she must go to the consulate in Buenos Aires, since she applied to live in Chile under her Argentinian nationality. I personally think that is BS and as long as she has legal status for the country where the Consulate she applied, it’s fine. I think it’s just because on their system she shows as Argie.

She still has an operating Banco Estado account so her plan is to send it there and then get family in Chile to access the account online and wire it out since we can’t do that from abroad any longer without a lot of faff!!!

Would be interested to hear anyone’s experience of this!

[snobrd4life]

Here's my experience with the second round so far...

Tried to log in to AFP Modelo yesterday morning and was met with a queueing system. I suppose that was put in place to keep the site from crashing. No joke, it took 9 hours before my turn came up. Regardless, the site is still broken. I was unable to follow the prompts indicating that I was outside of Chile, expired carnet, even though I had my online password. It would just default back to reloading the homepage. The only possible option was to use VPN to spoof being in Chile, claim to be living in Chile, with valid carnet, without password. That was the only way it would get to a point to actually input bank account information for them to transfer the funds. I know it sounds backwards (because it absolutely is), but it worked that way the first 10% withdrawal. I don't really care to criticize the system as long as the money transfers into the account and I can be done with the whole process.

Now if only they could make the process of liquidating the AFP account entirely for foreigners no longer living in Chile an online process, that would be splendid... but zero (actually negative) incentive for them to actually do that.

[snobrd4life]

but it worked that way the first 10% withdrawal.

Well, it looks like AFP Modelo has grown up somewhat for the segundo retiro. They rejected my request even though I processed the online form exactlysame as I did for the primer retiro... shocker. Didn't get a denial email, but was able to check using the confirmation number emailed to me at the time of submission.

But hope is not lost. It looks like the issues plaguing the system on day 1 of segundo retiro have been fixed and now the online form appears to even offer the option to have the funds transferred out to foreign banks!!! I couldn't believe what I was seeing. Even crazier, when asking for a mobile number, they allow for international numbers, not with just a +56 prefix. Kudos where deserved.

I'll report back in about a week to see if it is accepted and how long it takes to receive in US bank account.

[admin]

The constutional court just ruled the second AFP withdrawl unconstitutional.

No worries, you don't have to give it back because of the final mechanism that was used at the last moment was constutional.

The morons pushing for a third one are dead in the water however. The commies in congress just got shutdown is all, as they were essentially using a parrell constution to try and get around restrictions in the constution.

yea, long boring story.

[willienelson]

My wife received the email confirmation for the second withdrawal BUT has now realised she put Cuenta 2 as the account by mistake.....

She’s called them and they’ve said someone will ring her back but we’re not holding our breath....I still don’t really understand what the cuenta 2 means and if the funds can still be transferred to a European bank....is anyone familiar with this?

[bow26]

This could refer to the APV account which is another account with the AFP but on a voluntary basis ie you can withdraw it whenever you want. I know people who have moved their retiro to their APV so that it stays in their pension fund but if they want to withdraw it later they can (or so they are told!).

[snobrd4life]

Just checking in to say that is has been about 4 weeks since requesting segundo retiro to be transferred to US bank account. It has been approved and is in tramite for payment for the past week and a half so I guess I could see the amount hit my bank in the next few days or a month or more from now. Through this entire time I have not gotten any notifications even though the forms repeatedly ask for email and cell phone numbers. The only way I can check on status is with the confirmation number provided when I first requested.

but it worked that way the first 10% withdrawal.

Well, it looks like AFP Modelo has grown up somewhat for the segundo retiro. They rejected my request even though I processed the online form exactlysame as I did for the primer retiro... shocker. Didn't get a denial email, but was able to check using the confirmation number emailed to me at the time of submission.

But hope is not lost. It looks like the issues plaguing the system on day 1 of segundo retiro have been fixed and now the online form appears to even offer the option to have the funds transferred out to foreign banks!!! I couldn't believe what I was seeing. Even crazier, when asking for a mobile number, they allow for international numbers, not with just a +56 prefix. Kudos where deserved.

I'll report back in about a week to see if it is accepted and how long it takes to receive in US bank account.