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Economy Commission proposes postponing the increase in pensions until 2025

Economy Commission proposes postponing the increase in pensions until 2025

Although the Economic Commission of the Congress of the Republic had planned to debate this Wednesday the 6th the report proposed by the “law of modernization of the Peruvian Pension System”, finally the session was postponed and an extraordinary session would be called for the next few days . However, the proposal prepared by said working group not only includes the limited withdrawal of up to S/9,900 (2 UIT) from the AFP for those who did not contribute for six months, but also proposes postponing the long-awaited increase in pensions.

According to the prediction, the increase in the amount of the pensions to S/600 for retirees from the Pension Normalization Office (ONP) would take effect as of January 2025. This initiative is far from what was proposed by the Ministry of Economy and Finance (MEF), which proposed that the increase take place from the beginning of next year.

The increase in the amount of the pensions, indicated in this provision, takes effect from the month of January 2025, and the refunds are paid in the month of February 2025, if applicable.“, reads the report prepared by the Economy Commission, chaired by César Revilla of the Fuerza Popular bench.

Increase in pensions would be postponed.  Photo: Prediction of the Economy Commission

Increase in pensions would be postponed. Photo: Prediction of the Economy Commission

How much would pensions increase?

The prepared text, which would be put up for debate in the next session of the Economy Commission, It includes what was proposed by the Government regarding the amounts of the new pensions for those members who comply with contributing for 20 years. Thus, the minimum and disability pension of those insured in the ONP would be raised from S/500 to S/600.

Likewise, with regard to the special proportional retirement pension for having contributed for 10 years of contributions, but less than 15 years of contributions, it will increase from S/250 to S/300. While members who made contributions for more than 15 and less than 20 years would no longer have a remuneration of S/350, but rather S/400.

Source: Larepublica

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