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Minister of Labor Rolando Castro announced this thursday at a press conference that the Administradoras de Fondos de Pensiones (AFP) sector will also pay 100% of Christmas bonuses to pensioners this friday, october 31, in compliance with the new law authorizing the advance payment of annual bonuses to retirees and workers in the country.
According to the official, this measure will benefit more than 237,000 salvadoran families, who will receive their full Christmas bonus in advance, from both the public and private systems. “This joint effort between the Government and the AFPs strengthens the family economy and stimulates domestic consumption, especially on the eve of the end-of-year season”, the minister emphasized during his remarks.
The measure is part of the economic policy promoted by the Executive Branch to improve household liquidity and boost the national economy. Last week, the Government had already made the full payment of Christmas bonuses to public sector employees, benefiting more than 400,000 families across the country.
According to regulations, the advance payment is optional for both employers and pension fund administrators (AFPs), and beneficiaries can keep the money in their accounts if they choose. Authorities clarified that this measure does not represent losses or financial risks, as it is financed with existing cash surpluses in the public and private systems, guaranteeing the balance and sustainability of the institutions involved.
The advance payment of Christmas bonuses aims to stimulate domestic consumption, strengthen commerce, and support small businesses through increased circulation of resources. With this initiative, the Government reaffirms its commitment to the well-being of salvadoran families and the national economic recovery, consolidating a management model oriented toward growth and social stability.
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