Retirement Pensions Increase Between USD 40 and 60

Starting January 2011, the retirement pensions will increase by $40 to $60, as the National Assembly approved the Ammendment to the Social Security Law on Friday morning. All of the legislators present at the time, 109, voted in favor of this new Law.

For 2010, the increase in retirment pensions for 2010 would be around $40 and $60, and starting 2011, it will increase in 4,31% and 16,16% according to the pension each retiree is receiving.

Fernando Cordero, President of the Assembly allowed hundreds of demonstrators to enter the Main Assembly and hear the Debate of the Ammendment. They were placed in the second floor.

“We have had to protest every week outside the Assembly so they actually hear us” said Teresa Saldaña (70 years old) to Diario El Comercio. Hundreds of retirees yelled and protested outside the Assembly this Thrusday at 08:00.