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Latest News in Peru / Archive
Law and Order | 26 October, 2009 [ 08:39 ]
Peru's Congress passed Early Retirement Bill
LivinginPeru.com
Isabel Guerra
Peru's Congress has passed a bill creating a special regime of temporary early retirement under Peru's National Retirement System (ONP), for women over 50 and men over 55.
The bill states that in order to qualify for this benefit, the worker must have been unemployed for 12 months or more.
Reportedly, if the monthly pension payout is worth more than 550 soles (US$192) per month, which is considered the minimum livable wage in Peru, early retirement will be granted and pension payouts will begin immediately.
Luis Galarreta, President of the Commission of Economics at the Congress, explained that this law will return 50% of the worker's total fund, and then the other 50% once he turns 65.
Reportedly, initial calculations estimate that at least 20,000 people will qualify for early retirement, while between 120,000 and 180,000 will qualify for the 50% lump sum payment.
Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.
Isabel Guerra
Peru's Congress has passed a bill creating a special regime of temporary early retirement under Peru's National Retirement System (ONP), for women over 50 and men over 55. The bill states that in order to qualify for this benefit, the worker must have been unemployed for 12 months or more.
Reportedly, if the monthly pension payout is worth more than 550 soles (US$192) per month, which is considered the minimum livable wage in Peru, early retirement will be granted and pension payouts will begin immediately.
Luis Galarreta, President of the Commission of Economics at the Congress, explained that this law will return 50% of the worker's total fund, and then the other 50% once he turns 65.
Reportedly, initial calculations estimate that at least 20,000 people will qualify for early retirement, while between 120,000 and 180,000 will qualify for the 50% lump sum payment.
Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.
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