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ABC of the minimum wage deindexation decree: keys and details

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ABC of the minimum wage deindexation decree: keys and details

As part of the commitments established at the minimum wage negotiating table, the national government is advancing in the de-indexation of rates, values, services and products linked in the past to this variable, and published this Thursday a draft decree in which it establishes the reasons, causes and guidelines of this measure to relieve the pocket of Colombians.

In total there will be more than 204 rates that will be de-indexed from the minimum in several batches. In the first round, 60 products and services are established in financial, labor, education and transport sectors.

This draft is published on the website for comments until December 23 at midnight and contemplates the measures established in the salary negotiation table.

(These are some rates and values ​​that would no longer go up with the minimum).

This first package of items that would be de-indexed from the minimum wage would be established by the Tax Value Unit (UVT).

This agreement contemplates the issuance of some 50 decrees of different administrative acts of goods and services in order to alleviate the pocket of Colombians and prevent the minimum wage from losing its purchasing power, due to the increase in the costs of different elements that affect workers’ income directly.

In addition to the de-indexation to the minimum wage, Measures were agreed to control energy rates, the prices of pharmaceutical products and a review of the usury rate.

(Mintrabajo signs decree to increase the minimum wage by 2023).

“In order to protect the purchasing power of workers’ income, the National Government will prioritize the deindexation of a broad set of elements and activities that are currently tied to the increase in the minimum wage. For this purpose, 50 decrees will be issued that have to do with administrative acts such as housing, transportation, commerce, fines and fees, and notarial procedures. With these first goods and services untied from the minimum wage, we will prevent increases from impacting Colombian households. The second list, made up of 170 services, will come out before December 31 and the remaining 34 must be done with bills.said the Minister of Labor, Gloria Inés Ramírez.

Next week another 120 services will come out and the remaining 34 that must go to the National Development Planexplained the head of the labor portfolio.

For pensioners, a progressive and gradual reduction of health contributions was established for those who earn between 2 and 3 minimum wages, whose contribution will drop from 12% to 10%. This commitment will be prioritized as part of the social agenda that will be presented to the Congress of the Republic.

(The draft decree for the deindexation of the minimum wage is ready).

Likewise, the government will seek a mechanism that allows the affiliation to the Family Compensation Funds to be reduced from 2% to 1% of the contribution.

Regarding the issue of reducing electricity ratesthe government will continue advancing in the regulatory agreements to reduce rates.

Regarding pharmaceutical products, mechanisms will be implemented through regulated digital platforms for the purchase of technologies and regulation of good practices in the marketing chain with international standards, strengthening of mechanisms for follow-up, monitoring and price control.

Finally, he said that the usury rate will be reviewed, in order to protect the most vulnerable population and prevent them from resorting to indebtedness mechanisms such as drop by drop, among others.

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