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They propose to extend until 2026 the authorization to dispose of 100% of the CTS

They propose to extend until 2026 the authorization to dispose of 100% of the CTS

To counteract the negative impact of the pandemic, it was approved to have the CTS only until December 31, 2023.

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Congressman Jorge Luis Flores Ancachi (Popular Action) has proposed that workers be able to dispose of 100% of the compensation for time of service (CTS) until December 31, 2026, since Law 31480 determined that this withdrawal is only possible until the end of 2023. Workers who are on the payroll receive this money in a bank account in their name in May and November of each year, and can use these funds in the event of unemployment or dismissal.

Bill 5009, presented this Tuesday, May 16, aims to provide economic liquidity to citizens in order to meet the basic economic needs of families affected by the pandemic and the sociopolitical conflicts that originated with the presidential succession in December 2022.

“One of the measures that have supported combating inflation from rising dramatically in Peru has been the issuance of this Law No. 31480, in this sense it is necessary to evaluate the extension of validity of this norm, because we know that the problem of the rise in the cost of living in Peru will last several years to lower or stabilize prices”is stated in the document.

The legislative initiative must go through the evaluation of the commissions of the Congress of the Republic before its debate and vote in plenary.

Source: Larepublica

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