Private sector contribution to the pension fund will be 9 %

The Social Security Pension Protection Law set the contribution that the private sector must contribute to this fund at 9 %

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.


Source: correodelcaroni

(Reference image source: @josegrasso, X)

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