Government agrees with the COB increase of 3% to the basic salary and 5% to the national minimum wage

A meeting – which lasted approximately five hours – between the President, Luis Arce, and the leadership of the Central Obrera Boliviana (COB) concluded with an agreement on the salary increase for 2023. The approved percentage is 5% to the national minimum wage and 3% to the basic salary. Likewise, Arce announced that two bills referring to the solidarity pension fund and the maximum retirement age will be sent.

“An increase of 3% to the basic salary and 5% to the national minimum wage has been agreed; of course, retroactive from January of the present management for all the workers”, affirmed the Head of State at a press conference, at the end of Wednesday night, and accompanied by the cobista leadership.

Until now, the national minimum wage was Bs 2,250 and, with the agreed increase, will rise to Bs 2,362, which must be adjusted to January of this year; while the basic salary is increased by 3% and that percentage must be adjusted based on the salary received by each worker.

As for the bills that the Executive must send to Parliament, there are two, the first refers to the old age solidarity pension which, up to now, is Bs 5,000 for the mining sector and will increase to Bs 6,000. “For the rest of the sectors, which was at Bs 4,200, it will rise to Bs 5,200 for all workers with 35 years of contribution,” announced the President.

The second bill will be that of set the maximum age limit of a worker, who will be 65 years old; then he will have to retire.

“A maximum limit has been established for the worker, in accordance with the General Labor Law, a cap of 65 years whatthat the worker must have to work. Already over 65 years of age, we consider that he no longer has a contribution to the corresponding sector and should retire”, indicated Arce, in time to announce that he will send a bill to the Legislative Assembly to consider this proposal.