the congressman Flavio Ruiz Mamani from the bench of Free Peru presented last Friday, June 9, a new legislative proposal to extend until December 31, 2024 the free availability of 100% of the Compensation for Service Time (CTS). Current regulations allow this fund to be made until December 31 of this year.
The bill aims to address the economic needs generated by the rise in the cost of living for formal workers.
The initiative is added to the one previously presented by Congressman Alejandro Soto Reyes, from the Alianza para el Progreso bench, and to that of Jorge Luis Flores Ancachi (Popular Action), who proposes that employees can withdraw their CTS until December 31, 2026.
In the explanatory statement, the bill states that, in 2022, inflation in Peru reached its highest level in 26 years, which implies an increase in the cost of living for Peruvians. While for this year the prices would continue to be high due to the pressures that the economy has been facing.
“For this year, it is estimated that the cost of the basic family basket for a four-member household is around S/1,670, above what we have already seen in 2022,” the document indicates.
For this reason, it considers that it is necessary to make this Legislative Initiative viable, so that the workers included within the scope of the Single Ordered Text of Legislative Decree 650, Law on Compensation for Time of Service, approved by Supreme Decree 001-97- TR, so that in this way they can meet the social economic demand that the families of the workers go through.
Source: Larepublica
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