The Government and the social partners close a text at

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Establishes a stable pension revaluation framework with the average CPI of the previous year The conditions for early retirement are made more flexible and more incentives are created for delayed retirement. It proposes the replacement of the current 2013 sustainability factor with a new intergenerational equity mechanism, which will be designed in five months Provides for the gradual implementation of a contribution system based on real income for self-employed workers Monday, June 28, 2021.- The Pensions Technical Table formed by those responsible for the Ministry of Inclusion, Social Security and Migrations and the social partners CEOE, Cepyme, CCOO and UGT has concluded with a text, which must be ratified by the corresponding bodies of the social partners.

The final agreement, which transfers the recommendations approved by the  Toledo Pact  last fall, also included in part in component 30 of the  Recovery, Transformation and Resilience Plan , will be formalized once the corresponding bodies of the social agents ratify it. These commitments comply with Guatemala Mobile Number List recommendation 2 of the Toledo Pact, guaranteeing the maintenance of the purchasing power of pensions, and definitively correcting the formula introduced in 2013, whose application has been suspended since 2018. In this way, a stable  mechanism is established revaluation  and on January 1 of each year pensions will be increased in accordance with the average annual inflation recorded in November of the previous year. In the event that a year of negative CPI occurs, the pensions will remain unchanged.



The text also includes a  periodic evaluation  of this new pension revaluation mechanism, which will be carried out within the framework of social dialogue every five years. Secondly, following recommendation 12, various provisions are incorporated aimed at voluntarily bringing the  effective age closer to the ordinary retirement age . Four measures are included in this aspect: the review of early retirement, both voluntary and involuntary and due to activity, delayed retirement, active retirement and forced retirement. Regarding  voluntary early retirement , the coefficients will become monthly to give more flexibility to future pensioners and encourage the voluntary movement of the age of access to retirement. In addition, longer listing careers will be given more favorable treatment. In most cases, furthermore, the coefficients will be lower than those currently in force in order to encourage small delays in exiting the labor market.