The Executive Branch today sent the Congress of the republic, his bill to create the new Peruvian pension system. This in order to join the debate for the reform of the pension system that has been discussed in the Legislature. Among some of the new features that the proposal brings is the increase in the minimum pension in the ONPas well as that of proportional pensions.
The Government project seeks to raise the minimum pension from S/500 to S/600 for all ONP retirees who have made at least 20 years of contributions in the system. While the maximum pension would go from S/893 to S/1,000, that is, it would increase by S/107 if said initiative succeeds.
With regards to the proportional pensions It is proposed to increase by S/50 the amount received by retirees who have contributed at least 10 years of contributions, but less than 15 years of contributions, reaching S/300. Meanwhile, those who contributed more than 15 and less than 20 years would have a remuneration of S/400.
The amount of the pensions would be valid from January 1, 2024, as long as it has the approval of the Congress of the Republic.
The new amount of pensions proposed by the Government. Photo: PL Capture
According to the Executive, the proposal will benefit 658,698 pensioners and would have an increase in the payroll of S/782 million in its first year and the actuarial reserve would increase by S/44,836 million.
Source: Larepublica
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