The Superintendency of Banking, Insurance and AFP (SBS) updated to S/125,714 the maximum amount of coverage of the Deposit Insurance Fund (FSD), which governs the financial system, corresponding to the quarter from March to May 2023. It should be noted that the balance for the previous quarter was S/ 125,603 (between December 2022 and February […]
Tag: CTS
Term deposits grow by 23.7% due to higher profitability
Preference. Financial institutions offer interest rates of up to 9% per year. Meanwhile, CTS funds have been reduced by almost 32% since the free availability was authorized. Due to the free availability of compensation funds for time of service (CTS) until December 31, 2023, authorized by the Congress of the republic, This product is no […]
When will the utilities, CTS, and gratuity be deposited to me this 2023?
Know the dates and what employment benefits you will receive this year. Undoubtedly one of the most anticipated payments for workers who are in form Are the utilities, Compensation for Time of Services (CTS) and gratification. Here you will know the dates and how to calculate these benefits for those who wish to save, pay […]
CTS could be reduced by unemployment insurance
One of the important issues for the management of the Ministry of Labor and Employment Promotion (MTPE) is the implementation of unemployment insurance in Peru, which has been working in coordination with the International Labor Organization (ILO) and that it even already has a preliminary proposal that is waiting to be shared and discussed with […]
Eduardo García: “It is a management priority to be able to increase the pensions of the ONP”
In dialogue with La República, the head of the MTPE, edward garciaannounces that it will coordinate with the MEF to make effective the increase in ONP pensions. In addition, it indicates that the unemployment insurance project is advanced and needs to be socialized. He rules out removing the CTS, but there could be an adjustment […]
Term deposits give rates of 9.25% to capture bonuses
The municipal savings banks expect to capture around S/21,000 million in fixed-term deposits this 2022, according to the projection of the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac). Considering that more than 4 million workers will receive their gratuities and taking into account the current social and economic context, the fixed-term deposit becomes […]
Congress: more than S / 11,000 million could be withdrawn from the CTS
Last Thursday, the plenary session of the Congress the third withdrawal of 100% of the compensation for time of service (CTS), a rule that would be in force until December 31, 2023. At the end of March, deposits for CTS in the financial system they reach S/ 11,134 million 518,000, according to the monthly report […]
CTS: teachers would obtain compensation equivalent to 100% of their salary
Through a change in article 63 of the Teacher Reform Law, Congress approved modifying the CTS of public teachers. The legislative initiative was admitted with 112 votes: teachers’ compensation will be 100% of their full monthly remuneration, per year or fraction of the months of official services actually worked, from their appointment to the date […]
They propose that workers once again have 100% of their CTS
A bill by the congressman of Podemos Peru, José Luis Elías Avalos, proposes that workers can once again have 100% of the deposits of the Compensation for Time of Service (CTS) The legal initiative proposes the temporary provision of the CTS in order to cover the economic needs caused by the third wave of the […]
This Friday the 31st the deadline to withdraw 100% of the CTS expires
After eight months of the possibility of withdrawing up to 100% of the Compensation for Time of Services (CTS), this Friday, December 31, the deadline to have this fund that supports formal workers expires. It should be remembered that with Law 31171, approved at the insistence by the Congress of the Republic last March, it […]