Minimum wage in Peru: consultation, if an increase is approved and what it depends on | Minimum Core Wage Value | Answers

President Tina Polwarte was surprised by the series of announcements on the nation’s news. As reported, the increase minimum wageDialogue and (more importantly), consensus between trade union centers and business associations in the National Workers’ Council (CNT).

Recently, Chairman Ministry of Labor and Employment Development (MTPE), Fernando VarelaHe indicated that on Friday, August 25, the reactivated National Labor Council (CNT) would meet again and set an agenda to discuss important issues such as increases. Minimum Living Wage (RMV).

“A meeting to set the agenda is pending with coordinators, trade union centers and business associations this Friday at 9 am. In this agenda, we will touch upon the reintroduction of casual commissions, where important issues such as outsourcing, collective bargaining and minimum living wages will be discussed. Minister explained.

What do you know about the minimum wage increase in Peru?

The President promised in his message to the nation:Our government has managed to get trade union centers and trade unions in our country to resume dialogue on the CNT, which is an important step towards the democratic management of labor relations in our country. My Government believes, As a result of this dialogue between unions and business associations, we will soon be able to announce to the country an increase in the minimum living wage that will improve the living conditions of our workers.“

As recalled, the CNT met again on July 22 after more than a year of shutdown. The government’s aim is to establish a technical calculation of minimum wage increases in a situation that prevents arbitrary changes in the future.

However, a session is expected to be scheduled where workers’ and employers’ representatives will discuss the formula for increasing the minimum living wage, which currently stands at S/1,025. Likewise, whether the calculation is established depends on the agreement between the two parties in the tripartite dialogue.

How much will the minimum wage increase in Peru?

The base salary under Labor Wages is currently 1,025 feet, and although President Tina Polwart announced the change in salary measures, she did not give further details on the amount, adding that efforts will be made to reach a consensus among the parties involved. The benefit of the people of Peru.

What is the current minimum wage?

According to current statistics (2023), the minimum wage in the Peruvian labor market is 1,025 feet. This basic salary is usually reduced by an amount related to AFP (Pension Fund Administrator’s Contribution), which varies in percentage depending on the salary received. It is also important to take into account the details of your contract and employment to calculate your net income.

When was the last salary increase in Peru?

The last change in the salary scale occurred in May 2022 under the government of Pedro Castillo. Pursuant to the decree of the former President, the Decree N°03-2022-TR This resulted in an increase of 95 feet in the RMV (Minimum Living Wage). Hence, the scale of minimum wages has been increased from the basic 930 feet to 1,025 feet.