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October 8, 2022
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Minimum salary in Peru: How often can this remuneration be raised?

Minimum salary in Peru: How often can this remuneration be raised?

The (MTPE) has been working to establish elementary parameters that allow an annual review of the Minimum Living Remuneration (RMV), with the aim that the purchasing power of workers who receive the minimum wage is not affected for very long periods.

In this sense, Alejandro Salas Zegarra, head of the MTPE, points out that the proposal of his sector is to establish a periodic review, as in other countries in the region, based on the progress of the social actors within the framework of the National Labor Council. and Employment Promotion.

It adds that the progress made, viability of criteria and parameters in the current context, which could be annual, should be reviewed. “The result would be a proposed rule that institutionalizes the periodic adjustments of the RMV, after going through a dialogue process”, he points out.

It is worth mentioning that currently the bills 480/2021-CR and 1588/2021-CR, which seek to establish the criteria for the annual modification of the Minimum Living Remuneration (RMV), are in the Labor Commission of the Congress of the Republic.

Last Tuesday, October 4, said work table held the ordinary session to approve the opinion. However, the vote was postponed, since it went to fourth intermission by decision of the commission.

Next, find out how this increase in the minimum wage would take place and what would be the criteria to take into account to approve the norm.

What does this proposal consist of?

The opinion proposes to establish an annual periodicity for the determination of the Minimum Vital Remuneration; so that the purchasing power of workers who receive the minimum wage is not affected by very long periods and the situation.

In addition, that the increased amount -which results from the technical criteria- does not accumulate and could generate difficulties for companies, especially smaller ones.

In addition to this, it is proposed that during the first four months of each year the National Council for Labor and Employment Promotion (CNTPE) discuss the determination of the minimum wage and be in charge of preparing a report. If a unanimous agreement is reached, it will be binding on the Executive Branch.

However, if there is no conciliation, the Executive Branch will have until July 1 of the respective year to determine the new minimum living wage by Supreme Decree, taking into account the CNTPE report.

It is important to mention that the technical criteria proposed to approve or not the opinion are: the average annual inflation, the evolution of the gross domestic product (GDP), the cost of the basic family basket and the increase of the Tax Unit (UIT). .

How has the minimum wage evolved in the country?

Throughout history, incumbent presidents have increased the minimum wage to improve the lives of Peruvians. Here we tell you what has been the evolution of the minimum vital remuneration in the last 22 years.

  • March 10, 2000: Through Emergency Decree No. 012-2000, former President Alberto Fujimori increased the minimum wage for workers in the private sector. The RMV went from S/ 345 to S/ 410 per month.
  • September 15, 2003: Through Emergency Decree No. 22-2003, former President Alejandro Toledo raised the RMV to S/ 460, an increase of S/ 50.
  • January 1, 2006: Through Supreme Decree No. 016-2005-TR, the minimum wage rose to S/ 500.
  • October 1, 2007: Through Supreme Decree No. 022-2007-TR, the salary would increase to S/ 530, and only in January 2008 would it reach the sum of S/ 550.
  • December 1, 2010: Through Supreme Decree No. 011-2010-TR, the Minimum Vital Remuneration reached the sum of S/ 580.
  • February 1, 2011: As ordered by Supreme Decree No. 011-2010-TR, a year later the second part of the increase was applied. In this way, the minimum wage reached S / 600, but only for workers subject to the labor regime of private activity.
  • August 5, 2011: The Government made official the increase of the RMV to S/ 675.
  • June 1, 2012: Through Supreme Decree No. 007-2012-TR, the government of President Ollanta Humala raised the RMV to S/ 750
  • March 30, 2016: Ollanta Humala announced the increase in the minimum wage to S/ 850 as of May 1.
  • March 21, 2018: Before resigning from office, President Pedro Pablo Kuckzynski signed a supreme decree authorizing the increase in the minimum wage to S/ 930.
  • May 1, 2022: Through Supreme Decree No. 003-2022-TR, the Government raised the RMV from S/ 930 to S/ 1,025.

How much is the minimum living wage in other countries?

As mentioned above, since May 1 of this year, Peru increased the minimum salary of at S/ 1,025 per month, approximately US$ 258.

Uruguay is the country with the highest salary in South America, 19,364 Uruguayan pesos per month, which would represent about US$472. It is followed by Chile, whose living wage is 400,000 Chilean pesos (US$450) per month, since August 1 .

Next, find out how much the minimum living wage is in the remaining countries of the region.

countries Minimum wage in dollars
1. Uruguay $472
2. Chili $450
3. Ecuador $425
4. Argentina $348
5.Bolivian $323
6. Paraguay $310
7. Colombia $264
8. Peru $258
9. Brazil $232
10. Venezuela $22

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