Participants in Peru may withdraw up to 25% of their private retirement assets to help them cope with the impacts of the coronavirus pandemic.
Congreso de la Republica President Manuel Merino de Lama and member of the board of directors promulgated the law Thursday, according to a translation of a notice on the Congress website.
Moves to permit withdrawals from the country's Administradoras de Fondos de Pensiones, known as AFPs, had previously been rejected by the country's president, Martin Vizcarra.
A commission will also be created to review the public and private retirement systems in Peru, the notice said.
