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Signed Decree that allows withdrawal of the ROP Mandatory Pension Scheme

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The President of the Republic, Carlos Alvarado, signed Law No. 9906 on Monday, which accelerates the withdrawal of funds from the Obligatory Pension Scheme (ROP) for people who have acquired the right to retirement, while strengthening both this regime as the Non-Contributive.

This is the “Law to protect the right of workers to withdraw resources from the supplementary pension”, which reforms several articles of the Worker Protection Law that created the ROP, one of the four pillars that make up the System of Pensions of Costa Rica.

The law establishes the modalities and terms for the complete withdrawal of these funds by the people who acquire their right and a series of adjustments to the employer and worker contribution to the Banco Popular y de Desarrollo Comunal that will strengthen both the ROP and the Regime Non-Contributory from the Costa Rican Social Security Fund (RNC). Likewise, it defines the beneficiaries in the event of the death of the member or pensioner and establishes that when a worker does not retire under any regime, they will have the right to withdraw the funds upon reaching the age established by the CCSS.

The law was signed by President Alvarado and the Ministers of Finance, Elian Villegas and of Labor and Social Security, Geannina Dinarte.

“With this law we inject resources into Costa Rican households at a time when they need it most, while safeguarding the stability of the pension system. This is an initiative resulting from a balanced and responsible agreement for which I especially thank Congressman Cruikshank, ”said President Alvarado.

The President of the Legislative Assembly, Eduardo Cruickshank, proponent of the project approved unanimously by those present on Thursday, October 1, assured that this new law improves the conditions for withdrawing the supplementary pension. “After a long struggle in which we had to convince multiple sectors for the project to be viable, today we make this reform a reality that ends the hateful discrimination that allowed luxury pensioners to take 100% of their pension in a single tract, while the other retirees received Polish payments, ”he said.

The President of the Legislative Assembly, Eduardo Cruickshank, proponent of the project approved unanimously by those present on Thursday, October 1, assured that this new law improves the conditions for withdrawing the supplementary pension. “After a long struggle in which we had to convince multiple sectors for the project to be viable, today we make this reform a reality that ends the hateful discrimination that allowed luxury pensioners to take 100% of their pension in a single tract, while the other retirees received Polish payments, ”he said.

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