The purpose of Compensation for Time of Service (CTS) is to provide formal workers with an economic fund as insurance that allows them to face their immediate expenses in the event of losing their job.
- Fixed-term deposits: savings banks will raise funds from AFP and CTS at 7.5%
- CTS 2024: when would the opinion to authorize a new withdrawal be debated in the Plenary Session of Congress?
With 21 votes in favor, 1 against and 1 abstention, the Congressional Economic Commission gave the green light on Wednesday, April 17, to the bill that allows workers withdraw up to 100% of your Compensation for Time of Service (CTS). The next step is for the opinion to be submitted to debate and vote in the plenary session of Congress.
If approved, workers will be able to exceptionally use all of their money of CTS until December 31, 2024. In addition, the proposed regulations establish that the Executive Branch will have a period of 10 business days to approve the corresponding regulations once the law comes into force.
CTS Withdrawal LIVE: latest news, what is missing for Congressional approval and more
When do they deposit the CTS?
By 2024, companies are required to deposit the Compensation for Time of Service (CTS) in two specific periods. These are: the first 15 days of the month of May, with a deadline of May 15, and the first 15 days of the month of November, with a deadline of November 15.
When will the CTS Withdrawal be debated in Congress?
The president of the Economy Commission, César Revilla, announced that the withdrawal of the Compensation for Time of Service (CTS) It will be debated in the next session of the plenary session, underlining the relevance of including this issue on the legislative agenda. During a press conference on Thursday, April 25, Revilla expressed: “This Thursday the CTS to the plenary session, as long as there is no opposition from the spokespersons in the Board of Spokespersons”.
Graduate of Journalism from the Pontifical Catholic University of Peru (PUCP). Web editor of the Gastronomy section of La República. Experience as an editor in other media. Also with experience in print media monitoring.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
