Paraguay President Peña enacted the law that reforms the pension system and modifies retirement calculation

Peña promulgates new law to reform the social security system The President of the Republic, Santiago Peña, promulgated Law 7,446, in order to guarantee the sustainability of the Institute of Social Security (IPS).He emphasized that this "advance will allow modernizing the system and consolidating the IPS as a pillar of social protection in Paraguay". [...] La entrada Paraguay President Peña promulgated the law that reforms the pension system a…

The President of the Republic, Santiago Peña, promulgated Law 7,446, raising the base of calculation for retirement from 3 to 10 years. The new regulation establishes the replacement, modification and incorporation of several provisions of the legal regime of the Institute of Social Security (IPS). The Executive was the main precursor of the law with which they seek to avoid distortions due to atypical wage peaks that damage the retirement fund.…