In March 2022, the AFP that presented the highest number of net transfers was Hábitat, while the reverse was recorded by Modelo.
Transfers between AFP multifunds increased by 115% according to the latest report dating from March. Fund E is leading the transfers, while fund A is the one that loses the most affiliates.
During the month of March, 319,114 (5.4% of the total contributors and 2.8% of the total affiliates for that month) were recorded, with an increase of 115.2% compared to the previous month and a decrease of -73, 3% compared to the same month of the previous year.
According to a Ciedess bulletin, of the total transfers, 92% corresponded to changes in the same AFP (293,043 transfers), while the remaining 8% were movements to another entity (26,071 transfers).
The consultant explained that “since March 2020 there have been strong fluctuations in returns of the multi-funds due to the effect of the coronavirus worldwide, which, added to the suggestions of changes by third parties, the political uncertainty and the successive exceptional withdrawals, led to an increase in fund transfers”.
“Thus, the amounts transferred in March amounted to $7,742,764 million, equivalent to 5.6% of the pension funds managed in that month,” Ciedess said.
Fund A is the one that loses the most affiliates
According to Ciedess, the fund with the highest number of net transfers (incorporations less withdrawals) in March 2022 was the E, with 104,561 net additions; while fund A registered the opposite case, with a net of -84,455 movements.
On the other hand, the results of the funds B, C and D were -48,530, -3,156 and 31,580 net transfers respectively.
Meanwhile, looking at the panorama during 2022 (January to March), the fund with the largest number of net transfers is E, with 132,034 net additions; while fund A recorded the opposite case, with a net of -107,977 movements. In turn, the results of funds B, C and D were -64,703, 2,092 and 38,554 net transfers, respectively.
Model keeps losing affiliates
According to Ciedess, in March 2022 the AFP with the highest number of net transfers (more additions than withdrawals due to transfers) was Habitat, with 1,142 net affiliates; while the inverse case is shown by Modelo, with -618 net transfers.
For its part, the panorama of the last 12 months shows that Uno was the AFP with the best balance, with 24,489 net transfers, while Modelo recorded the opposite scenario, with -44,405 net outflows.