Overview
- ONP chief Gastón Remy said transfers between the public ONP and private AFP systems will begin in September 2026 under Law 32123 once the implementing rules are published.
- The reform creates bidirectional portability, so AFP members who switch to the ONP must move 100% of their individual account and have their future ONP pension calculated with contributions from both systems.
- ONP contributors who have at least 240 monthly payments keep a guaranteed minimum or proportional pension in the public system that can be combined with a later AFP pension.
- Officials have not yet defined if a Recognition Bond will apply for moves from ONP to AFP, and those terms will appear in the pending regulation.
- Separately, the ONP flagged more than 157,000 employers with unpaid public-pension contributions and urged fast repayment because missing deposits can reduce workers’ credited service and future benefits.