News Detail

Increase of Minimum Wage for the year 2012

INCREASE OF MINIMUM WAGE WAS ANNOUNCED FOR THE YEAR 2012

In a staggered way, as it has been happening from the past years, it was announced the increase of the minimum wage for all public and private employees, said increase will be made in a 15% by May 1st and subsequently, another increase of a 15% on the current wage on September, which equals an increase of 32,25% of the minimum wage.

In this sense, from May 1st the minimum wage from Bs. 1.548,22 will be Bs. 1.780,45, which will represent a quantitative increase of Bs. 232,23. On September, the minimum wage will be increased in the amount of Bs. 267,07, to sum up a total of Bs. 2.047,53.

It is still indeterminate if this wage increase will apply to the retirement pensions and public administration pensions, as well and the pensions granted by the Venezuelan Social Security Institute, as has happened before.