Number of pensioners increased by more than 675% during Bolivarian Revolution

 

Caracas, 12 May. AVN.- During 18 years of the Bolivarian Revolution, the number of pensioners increased from 387,000 people in 1999 to more than 3 million nowadays, which represents an increase of more than 675% and means that 90% of the adult population of the country is enrolled in Venezuela's protection system.

Even though Venezuela's crude oil saw in 2016 the lowest price, President Nicolas Maduro kept the retroactive nature of social benefits rescued in 2012 with the enactment of the Organic Labor and Workers Law (LOTTT), following removal of this benefit in 1996.

In the midst of this situation, the Executive has also continued to pay pensions and award them through the Venezuelan Institute of Social Security (IVSS) and the Great Mission Love for the Elderly, created by Commander Hugo Chavez in 2011 with a view to universal enjoyment of the right to social security.

Similarly, another of the social demands achieved by the Bolivarian Revolution is the standardization of pensions with current minimum wage, so this important population of the country receives 84,527.4 bolivars.

That amount increased on April 30 when the head of state announced a special "economic war" bonus of 19,506 bolivars, and after the 60% increase in the minimum wage, it totals 65,021 bolivars.

The increases of the minimum monthly income for workers of the country are part of a sustained policy of the national leader who under his administration has adopted 15 increases, which totals 37 during the revolutionary process.

Clearly, this stands in contrast with the vision of "public spending" that governments of the Fourth Republic had about the payment of pensions that today represents one of the most protected populations by the Venezuelan State.

12/05/2017 - 05:45 pm