This economic support would guarantee security to labor cessation and pay in May and November. During the pandemic, the government allowed its complete retirement as a help in the face of the financial crisis.
Compensation for time of services (CTS) It is a fund accumulated by employers in compliance with current labor regulations. Its purpose is to mitigate the economic impact that the loss of employment can generate, providing financial stability to the worker in case of cessation.
This benefit is deposited twice a year, in May and November, and covers the work periods between November and April, as well as between May and October. During the Covid-19 pandemiaThe Government authorized the free disposition of these funds as an exceptional support measure before the economic crisis.
What is the good news for private sector workers?
The expiration of the 100% retirement for compensation for service time (CTS) has motivated the presentation of eleven bills at the Congress of the Republic. The most recent was presented to the documentary process of Congress on Friday, February 14 by the congressman of Podemos, Jorge Flores Ancachi.
These initiatives would seek to restore the faculty of private sector workers to access these funds, with proposals that vary in the deadlines and retirement conditions.
- CTS retreat until December 31, 2026 – Second Quiroz (Magisterial Block)
- CTS retreat until December 31, 2025 – Edgar Reymundo (Popular Democratic Block)
- CTS retreat until December 31, 2026 – Margot Palacios (not grouped)
- CTS retreat until December 31, 2025 – Juan Burgos (Podemos Peru)
- CTS retreat until December 31, 2026 – worthy street (Podemos Peru)
- CTS retreat for public workers until December 31, 2025 – Passion Dávila (Socialist bench)
- Withdrawal CTS unlimited – Américo Gonza (Free Peru)
- CTS retreat until December 31, 2025 and for patients with terminal diseases – Elva Julón (Alliance for Progress)
- CTS retreat until December 31, 2026 – Paul Gutiérrez (Magisterial Block)
- CTS retreat until December 31, 2026 – Alfredo Pariona (Socialist bench)
- CTS retreat until December 31, 2026 – Jorge Flores Ancachi (Can)
It should be noted that, like the other ten proposals, its review will be in charge of the work and economy commissions, which will begin sessions at the beginning of the second legislature in March. However, the holders of these working groups have shown different positions on the restoration of the free availability of savings.
Who are the beneficiaries of the CTS?
Compensation for service time is aimed at private sector workers who work at least four hours average on average. However, in the case of employees under the Agrarian regimethis benefit is already included in its daily remuneration, representing 9.72% of its basic salary.
Source: Larepublica
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