American Expatriate Costa Rica

Agreement to speed pension’s reform

The Legislature agreed to implement an abbreviated procedure for several projects to reform pension schemes.

The legislators agreed to dispense five records from formalities, three of which consist of reforms to reduce spending on pensions.

One of the five projects is a proposal by the Executive to reform all pension schemes from the national budget. With this initiative pension calculation would be on 80% of the average of the top 12 monthly wages the person received in the last two years.

Another proposal from Frente Amplio establishes a special contribution for pensions exceeding 10 minimum wages, and another one eliminates the annual 30% pension adjustment for 215 former legislators, who retired before 1992.

In total, there are 10 projects dispensed from formalities and the law authorizing the Ministry of Finance to use idle resources to pay off public debt.

crhoy.com