In addition to considering the increase in the retirement age as a setting variable applied to the pension system, the Broad Front pointed out that the pension reform law that began to be discussed in Congress on Tuesday, “does not contemplate the need for new income to finance the system” nor does it “analyse other possible Sources of funding”. The direct consequence will be that “most people are going to have to work longer and retire with less income,” she noted.
After the meeting, which coincided with the 18th anniversary of his first electoral victory, the referents of the Broad Front offered a Press conference in which they confirmed their participation in the parliamentary debate and in the commissions. In this sense, the president of the party, Ferdinand Pereiraannounced that they will work to “incorporate views that were not taken into account.”
Likewise, Pereira announced that they will begin a process of debate throughout the country -which they consider missing in the government project-, visiting “all the neighborhoods and localities of all the departments so that people know in detail what it consists of. the project and what are the objections”.
“It’s a reform that drags formats from the past into the future,” said Pereira, and concluded: “Those of us who are discussing this today probably won’t suffer the consequences, but we have to think about the new generations so that the rights we have acquired over decades are not affected.”
What does the social security reform bill say?
The pension reform bill aims to guarantee the financial sustainability of the Uruguayan pension system from a progressive increase in the minimum age from which it is possible to retire in Uruguay. The main argument is the aging of the population and the expenses that the State will have to face in terms of Social Security.
With the new project, which would come into force as of 2036, people born in 1973 would retire at 63 years old, those born in 1974 at 64 years old, and those born after 1975 would already have access to the pension system from the age of 65 . However, those who are already collecting their retirement would not be affected.
The original text entered the Senate by the Executive Power on October 21 and began to be discussed this Tuesday. The government hopes that the initiative will be approved before the end of the year.
Source: Ambito
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