CTS withdrawal: they propose to extend until 2024 the authorization to dispose of 100% of this fund

Congressman Alejandro Soto Reyes, from the Alliance for Progress bench, proposes that the validity of the law that allows the withdrawal of 100% of the compensation for time of service (CTS) be extended until December 31, 2024, because for now it is only authorized until this year. It is argued that the objective is to provide liquidity to workers in a context in which the negative impact of the pandemic is still perceived, added to the general rise in prices.

Bill 5185 seeks to modify article 2 of Law 31480 that authorizes temporary disposal of the CTS. In this way, the Executive is ordered to adapt the regulation within a period not exceeding 10 days after the publication of the regulation.

“The current crisis, It demands the implementation of all possible measures so that the population has access to a source of money that allows them to have a dignified life. Along these lines, through the aforementioned Law 31480, the availability of compensation for time of service was approved until December 31, 2023; however, it is necessary to continue supporting measures to obtain urgent resources for the population,” the document states.

It should be noted that this is the second legislative initiative presented with the same objective, the first is by Jorge Luis Flores Ancachi (Popular Action) and proposes that the extension of validity be until December 31, 2026. The initiatives must go through the evaluation of the commissions of the Congress of the Republic before reaching the plenary session for debate and voting.