Key Facts
—The change. The Banco Central de Reserva del Perú (BCRP), the country’s central bank, raised the operating ceiling on how much of the private pension funds can be invested abroad to 51.0% from 50.5%, effective July 1, 2026.
—The instrument. It was made through Circular No. 0014-2026-BCRP, published in the official gazette El Peruano, amending the 2018 rulebook that sets the funds’ investment limits.
—The bigger cap. A 2025 law, Ley 32428, lifted the statutory maximum to 80% from 50%, but the BCRP still decides how fast the real ceiling rises toward it.
—The gap. Foreign assets were just 46.9% of AFP portfolios at the end of June, down 1.4 points on the quarter and below even the old 50.5% ceiling.
