What to do with the accumulated fund?

On April 23, the Government of Peru promulgated Law No. 31171, which authorizes the withdrawal of the CTS. In other words, workers could now withdraw 100% of the CTS accumulated in financial institutions. This is an extraordinary withdrawal from said fund, and it is a way in which the State seeks to support families that have been economically affected by the pandemic. Because it is a unique procedure, the CTS can only be withdrawn until December 31, 2021 and the worker can make partial or total withdrawals of the accumulated amount.

Although many people have the need to withdraw all the accumulated fund to pay debts or support their homes and expenses in times of pandemic, in alDía we give you some advice on what you could do with this fund, to benefit your personal finances.

Tips on what to do with CTS money

Do not withdraw it

do not withdraw

The CTS accumulated fund usually has the best interest rate in the market. For this reason, if you do not really need this money yet, it is better not to withdraw it, or at least not totally so that your fund continues to grow and can have it at the best time (a layoff, for example).

Pay off your debts

pay your debts

If you choose to withdraw your CTS and you have debt, it is a good idea to use this money (or part of it) to pay it off. That way you will be able to subtract a financial problem from your monthly economy; Likewise, you will stop paying interest and the money that enters your pocket, from now on, can be used for your expenses and savings.

In the event that you have the total amount to settle a debt, we advise you to contact our advisors. We can offer you the plan Pool through which we negotiate the settlement of your debt (massively) so that you can obtain more benefits in the procedure; we also help you manage your letter of no debit.

To start a business

start business

Another way to take advantage of the CTS money is to start your own business. By using the CTS money, you will not have the need to request a loan, since you will have your own capital to undertake. We advise you, if this is the case, to first design a business plan to be successful and to know how much money you need to withdraw from the CTS.

Here are some ideas of what you can do with your CTS money. Making a responsible use of this money can make a difference and make you feel more comfortable about your personal finances.

At alDía we have financial advisers who can help you make good use of this money. For example, if you decide to settle past due debts and want to reinsert into the financial system, we have the Pool and Reinserta plans. Contact us to help you have a second chance and be attractive to banks and other financial institutions!

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