MONTEVIDEO – Uruguay will bring forward to August part of the increase in minimum pensions scheduled to start in January 2017, Economy Minister Danilo Astori announced on Monday after the Cabinet meeting.
Starting in August, minimum pensions, set at 8,767 pesos ($283) will be boosted by around 200 pesos ($6.50).
The minister recalled that Uruguayan President Tabare Vazquez recently announced his intention to increase the amount of minimum pensions a little more than just a simple adjustment for inflation.
Over the past 12 months, inflation has reached about 11 percent, according to the National Statistics Institute, or INE.
Astori also announced that “retirees and pensioners that receive less than 11,400 pesos (some $368) a month” could have free access to the city bus service from August until Dec. 31, 2016.
The minister said this will apply “in every town in the country that has urban transport.”
At the same time, the economy minister said that he is resolved to maintain the percentages of salary increases agreed upon during the last collective negotiations and that they will be introduced in the second half of the year.
Astori said the decision was unanimous and that it will help protect sources of employment during the current economic downturn when “thousands of jobs have been lost,” and gave as an example “sectors like construction.”