During November, the older adults In Chile they can access various economic benefits designed to support their quality of life. These benefits, in addition to being financial support, seek to provide relief in daily expenses and promote better well-being for the elderly.
He Recognition Bonus It is a benefit granted to those who made the change from the old pension system to the current AFP system. This bonus is calculated based on the contribution periods in the old pension funds and is readjusted annually according to the Consumer Price Index (CPI). The notable thing about this bond is that it earns an annual interest of 4%, which allows the accumulated amount to increase over time.
On the other hand, the Child Bonus It is a benefit intended exclusively for women and is granted to increase their pension permanently. This bonus is not delivered at the time of the child’s birth, but is directly incorporated into the pension amount when the beneficiary begins to receive it. The calculation of the bonus is equivalent to 10% of 18 minimum monthly earnings in force at the time of requesting the benefit, and is added each month to the pension.
The Universal Guaranteed Pension (PGU) is another key benefit for older adults in Chile. With a maximum monthly amount of $214,269, this contribution seeks to ensure a minimum income for people aged 65 or over, as long as they meet the established requirements. Since February 2023, this amount has been adjusted so that beneficiaries receive this fixed amount in their monthly payments.
Both the Recognition Bonus, the Child Bonus and the PGU seek to improve the quality of life of the beneficiaries, so that they can meet basic expenses and enjoy a more peaceful and dignified old age. To access these benefits, you should always review the specific requirements and stay informed of payment dates and application channels.
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