Private companies must contribute 9 % of their income to the pension fund, which from now on is known as the Social Security Pension Protection Law.

The issue of income due to pensions in Venezuela has generated controversy in view of the amount that senior citizens receive, which remains at 130 bolivars, the same as the minimum monthly salary for workers.

With the Social Security Pension Protection Law, and the contribution of private companies, the aim is to considerably improve the amount of pensions, which will have a positive impact on the purchasing power and quality of life of the beneficiaries.

The decision on the amount that the private sector must contribute was published in the Official Gazette number 42,880, dated May 16, which also indicates “that duly undertakings are exempt from payment of the special contribution provided in the Pension Law. registered with the National Registry of Entrepreneurship (RNE)”. This exemption has a maximum validity period of one year, “counted from the date of its publication in the Official Gazette,” the document reads.

M.Pino

Source: correodelcaroni

(Reference image source: @josegrasso, X)

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La entrada Private sector contribution to the pension fund will be 9 % apareció primero en Bitfinance.

The government of Andrés Manuel López Obrador has promoted a reform of the pension system that was approved by the Senate on Thursday, April 25.

According to the reform called “Pension Fund for Wellbeing,” AMLO seeks to “improve the retirements of thousands of people.”

The Upper House approved a public fund for 40,000 million pesos (about 2,300 million dollars) to improve the retirements of thousands of workers. It had the majority of the ruling party and its allies.

While senators discuss different points of the reform, full approval is expected to occur soon and then be signed into law by the president.

The “Pension Fund for Wellbeing” will receive “resources that have not been claimed by people over 70 years of age from private retirement fund administrators, which in Mexico are known as Afores.”

The money will serve to benefit between 26 and 28 million people by ensuring “a retirement equivalent to their last salary, as long as it does not exceed the average monthly salary in Mexico, which in 2024 is 16,777 pesos (about $974).”

M.Pino

Source: DW

(Reference image source: Unsplash+, in collaboration with Getty Images)

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La entrada Mexican Senate approves pension fund reform apareció primero en Bitfinance.

Starting in April, pensions in Argentina will be adjusted to the inflation index according to a Decree of Necessity and Urgency signed this Saturday by President Javier Milei.

It is expected that in April, pensioners will begin to receive an increase in their pensions according to the inflation index. For that same month, and on a one-time basis, an increase of 12.5 % ​​will be assigned.

The president of Argentina made the official notification about the increase in salaries through his account on the social network, where it reads: “The Office of the President informs that, due to the impossibility of resolving the problem of retirement salaries through the ordinary legislative treatment with the speed that the matter requires, and in the face of the liquefaction caused by the pension formula sanctioned by the previous administration, the President of the Nation has decided to sign a DNU to establish a new retirement formula and solve the problem once and for all. and definitively.”

Thus, next month retirees will receive monthly increases anchored to the Consumer Price Index (CPI, inflation indicator). The additional 12.5 % ​​only in the indicated month will be granted “in reparation for the damage caused by the pension formula of the previous Government.”

M.Pino

Source: spanish.news.cn

(Reference image source: Christian Bowen on Unsplash)

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La entrada Argentina: Government adjusts pensions to the inflation index since April apareció primero en Bitfinance.

Enoch Godongwana, finance minister of South Africa, presented a new bill that excludes the possibility of investing in cryptocurrencies and stipulates some prohibitions when investing the money of the users of pension funds.

In the previous legal norms they contemplated the possibility that the “portfolio managers” will make investments in a “category” that was called “other assets” where the different crypto assets on the market were included.

The amount established by the legal status was 2.5 % of the total money that the affiliates had in the pension fund. However, the new recommendations that are contained in regulation 28 are intended to be normal in the way in which investments can be made.

The Regulation 28 is a rule used by the Pension Fund Law to govern “how funds can be invested and is intended to prevent investors from overinvesting in a single type of asset.”

According to South African officials, there is great concern due to the behavior of cryptocurrencies in the global market, which is “speculative”, thus they are analyzing the different options that allow studying the “possible applications of distributive ledger technology”.

Pension funds and cryptocurrencies

One of the first pension funds in the United States to approved investments in crypto assets was the Fairfax County Police Officers Retirement System in Virginia, starting in 2018 with 0.5 % of those established for business related to blockchain.

Currently, the fund has been increasing its investment percentage in this sector, reaching around 7 % in this type of assets.

M. Rodríguez

Source: noticiascripto.com

La entrada South Africa regulates cryptocurrency investments in pension funds apareció primero en Bitfinance.