Peru Finance Minister Calls Teacher Pension Law Illegal
Elmer Cuba says Congress overstepped its powers with a S/3,500.70 pension law and plans a court challenge. The post Peru Finance Minister Calls Teacher Pension Law Illegal appeared first on The Rio Times .
Peru's Finance Minister Elmer Cuba declared a teacher pension law illegal because it overstepped Congress's constitutional powers. The law, Ley No. 32581, ties pensions to the first magisterial scale and sets a monthly amount of S/3,500.70 (approximately US$1,041). Cuba argues that the law puts macroeconomic stability at risk and will challenge it in the Tribunal Constitucional, Peru's constitutional court.
The government is also taking the issue to the Colegio de Economistas separately. Meanwhile, Congress faces scrutiny over a 15% pay rise for its workers, a topic it is handling independently of the pension law. The government is open to negotiating a smaller pension increase with teachers' groups, but insists on maintaining fiscal responsibility.
The pension law remains on the books without regulations, creating a legal vacuum that will eventually be addressed by the court.
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