CTS 2023: When does the payment start and until when is the deadline to withdraw 100%?

A large number of employees in Peru who work under a formal regime are eagerly awaiting the disbursement of Compensation for Time of Service (CTS), as they have the option to withdraw that money at their discretion without any problem.

In the following lines, we will explain all the data you must keep in mind about this labor right, how to calculate the amount that corresponds to you, and until when you have time to withdraw it.

Compensation for Time of Service (CTS) is a benefit granted to workers who are on the payroll. This money is deposited twice a year in May and November. It is worth clarifying that the amount of money you will receive varies according to the labor regime of your company, which can be: large, medium, small, or micro.

This question is one of the most frequent since in these times it is imperative to have a little extra money to be able to cover daily expenses. If you are part of the millions of Peruvians who are on the payroll, you should know that companies are obliged to make this payment on two dates:

Monday, May 15th is the deadline for large, medium, small, or micro companies to make the deposit of Compensation for Time of Services (CTS). This amount corresponds to the payment for working in the period November 2022 to April 2023.

For those who wish to withdraw the entirety of their Compensation for Time of Services (CTS), it is necessary to go to the ATMs or teller windows of the banks where they have their account affiliated. Likewise, some financial institutions offer the option of doing this operation through their mobile applications.

Furthermore, you must keep in mind that it has been authorized for workers to dispose of 100% of their money until December 31, 2023 as the maximum date for withdrawal.

For more information, do not hesitate to visit the website Libero.pe