Recent Attention to AFP Withdrawals in Chile

The trend of foreigners withdrawing their AFP funds in Chile has recently gained significant traction on social media platforms. This trend has seen a notable increase in the number of withdrawal applications, with approximately $186,609 million pesos returned through the mechanism of law 18.156 over the last five years, according to figures from the Superintendency of Pensions.


Withdrawal Applications Over the Past Five Years:
2019: 5,208 withdrawals
2020: 6,387 withdrawals
2021: 2,595 withdrawals (a notable decrease due to Covid-19 crisis)
2022: 7,050 withdrawals
2023: 15,482 withdrawals
Source: Superintendencia de Pensiones


Factors Contributing to the Surge in AFP Withdrawal Applications Among Foreigners in Chile:


  1. Economic Uncertainty: The global economic climate has left many foreign employees uncertain about their financial future, making accessing these funds a crucial financial cushion.
  2. Ease of Access: The information shared on social media simplifies the process, making it more approachable and demystifying the bureaucratic procedures involved.
  3. Community Support: Videos on social media foster a sense of community and mutual support among foreigners, with viewers sharing their experiences and offering additional tips and encouragement.



The Superintendency of Pensions oversees the process to ensure compliance with legal requirements and proper conduct. Despite the significant increase in withdrawals, no sanctions have been applied to administrators to date.




The viral trend has caught the attention of both the public and the authorities, highlighting the need for ongoing scrutiny and regulation to maintain the integrity of the AFP system while ensuring that the process is fair and accessible to all eligible individuals. It has empowered many to claim their rightful savings. It brought attention to the need for reforms within the AFP system. As the trend continues to grow, the control mechanisms and the supervisory interventions of Superintendency of Pensions might increase.


Key Points from Our Daily Consulting Work:


  • Timeframe: The payout process will take definitely longer (bureaucratic response time is defined by law to five working days, but in reality, AFPs take up to eight working days to analyze presented documentation)


  • Selective Interpretation: AFPs have been known to interpret the law differently, leading to a higher number of payout requests required for each case. This can increase the overall time it takes to retrieve the funds.


  • Multiple requests: As a result, it is common nowadays to submit several payout requests before the funds are released.


These factors contribute to the complexity and delay in the payout process for AFP funds in Chile. In case you need to access those funds quickly, please account for a wider timespan due to bureaucratic process.