Find out more about Law No. 31173 and what documents you need to access CERAD
The total debt of the National Housing Fund (Fonavi), a system which was maintained for 19 years (from 1979 to 1998) and sought to satisfy the housing needs of Peruvian workers, covers approximately 42 million soles in total which will be returned among all their fonavistas contributors.
The Law No. 31173 guarantees compliance with Law 29625, Law for the return of FONAVI money to the workers who contributed to it, prioritizing the vulnerable population, as a consequence of the COVID-19 pandemic.
In that sense, according to the Legislative norm of the Congress of the Republicreturn
of the contributions includes:
a) To all workers, dependent and independent, who contributed to FONAVI, with
the exception of those who benefited from their resources in an amount equal to or greater than their contribution.
b) Those deducted from their salaries and those made by their employers, including the State and others.
c) The amount of the contribution and its due updating in accordance with the provisions of article 1236 of the Civil Code.
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Certificates of Acknowledgment of Contributions and Rights
The Certificate of Acknowledgment of Contributions and Rights of Fonavista (CERAD) represents the value recognized by the Ad Hoc Commission to be returned and also represents public debt with an individual creditor, it has the nature of a negotiable security and freely available. It yields an income equal to the legal interest rate. In the event of non-compliance with the payment of the CERAD cancellation, a default interest rate will be increased.
The Ministry of Economy and Finance will program the budgetary provisions for the fulfillment of the obligations. The CERAD will be redeemed the fifth year after the
issue date.
Ad Hoc Commission
The Ad Hoc Commission will be made up of:
– Two (2) representatives of the Ministry of Economy and Finance.
– One (1) representative of the Pension Standardization Office (ONP).
– Four (4) representatives of the National Federation of Fonavistas and Pensioners of the
Peru (FENAFP), two (2) corresponding to the department of Lima and the Province
Constitutional Court of Callao and two (2) to the other departments of the country.
Documents you need to access CERAD
- Retirees: the retirement resolution that includes the summary table of their contributions.
- Non-retired: the table of contributions to the National Pension System (advance crediting of contributions) and work certificates for the period 1980-1998.
- State workers: their termination or retirement resolution, as the case may be, and prove if they have detailed proof of payment of remunerations and contributions to Fonavi.
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