AFP Returns and Fees in Peru 2026: Habitat, Integra, Prima and Profuturo Compared

Before comparing anyone, separate what is your money from what is a cost. Of the monthly discount from your paycheck, the 10% contribution goes straight into your individual account - that is your savings, not a fee. The disability-and-survivor insurance premium (prima de seguro) is the same across all four AFPs. The only piece that differs between AFPs, and the only true cost of administration, is the commission.

There are two commission structures. The comisión sobre flujo is charged monthly as a percentage of your gross salary - you pay it when you contribute. The comisión mixta combines a comisión sobre flujo with an annual comisión sobre saldo, charged on the balance you have already accumulated. Since February 2023, the comisión sobre flujo of the mixta is 0% for all four AFPs, so in practice the mixta is now just an annual charge on your fund.

The two winners are different AFPs. On the comisión sobre flujo - the slice taken from your salary - Habitat is cheapest at 1.47%, and Profuturo the most expensive at 1.69%. On the annual balance commission, Profuturo is cheapest at 0.68%, with Integra close behind at 0.78%. Which one should weigh more depends on your situation, and we will get to that.

Your money is not parked; it is invested. Each AFP offers four fund types with rising risk. Fondo 0 is capital preservation (lowest risk), Fondo 1 is conservative, Fondo 2 is balanced (the most popular default), and Fondo 3 is growth, with the highest exposure to equities and the widest swings. Higher potential return comes with higher volatility - Fondo 3 can also fall hardest in a bad year.

Two things jump out. In the growth fund, Habitat leads Fondo 3 with 9.62% annualized over five years, well ahead of the system average of 8.05% and of Prima at 6.58%. In the balanced fund that most affiliates actually use, Integra leads Fondo 2 with 6.47%. Notice that the gaps between AFPs are much wider in Fondo 3 than in the conservative funds - the riskier the fund, the more an AFP's investment decisions show up in the result.

The honest answer is: it depends on how big your fund already is. If you are young with a small balance, most of your future cost is the comisión sobre flujo on your salary, so a cheaper comisión sobre flujo (Habitat) and a strong return in your chosen fund matter most. If you have a large accumulated balance and are near retirement, the annual comisión sobre saldo bites harder every year, so a low balance commission (Profuturo, Integra) can matter more. The right question is not 'who charges least?' but 'which AFP leaves me the largest fund after fees?'

You cannot read AFP tables in 2026 without knowing the system is being rebuilt. Ley N° 32123, the Ley de Modernización del Sistema Previsional Peruano, was enacted on 24 September 2024. It merges the public SNP and the private SPP into a single multi-pillar system (the SIPP), meant to be universal and to widen coverage in a country where informal work exceeds 70%.

The regulation followed: D.S. 189-2025-EF, in force from 6 September 2025, later modified by D.S. 061-2026-EF in April 2026 to align with the 4-UIT withdrawal law (Ley 32445). The key point for affiliates: from June 2027 there will be a 12-month window to choose your system through a new platform (PAST), with automatic default assignment - if you turned 18 before June 2027 you default to the SPP, and after that to the SNP.