Friday, June 2, 2023

How Much Will Social Security Pensioners Earn With Economic War Bonds?

Social Work Process Minister of Govt. Nicolas Maduro Francisco Torrealba, detailed how much social security pensioner Venezuela with adjustments to economic warfare bond That the President pronounces this judgment on Monday, May 1st.

This will not be the case for pensioners, despite the fact that Maduro this Tuesday morning brought the Central Bank of Venezuela’s (BCV) dollar rate bonds up to $30 monthly.

Torrealba explained in a thread on the social network Twitter that Social Security pensioners would receive $20 indexed a month and 130 bolivars from their retirement. At this May 2 BCV dollar rate, those 130 bolivars represent $5.25. That is, his monthly income will be $ 25.25 or 624.43 bolivars.

What Can a Social Security Pensioner Buy?

The Center for Documentation and Analysis for Workers of the Venezuelan Federation of Teachers (Kendas-FVM) said that in March the cost of a basket of food for a family of five was the equivalent of US$518, so the US$25.25 that goes to an IVSS pensioner. will be received. 4.87% of that basket.

With that $25.25 they can buy the following products at the Guacaipuro market with prices for Thursday, April 27

  • a kilo of chicken (74.8 bolivars),
  • 1 kilo ground beef (129 bolivars)
  • a carton of eggs (153.7 bolivars)
  • and a kilo of hard white cheese (152.2 bolivars) which would total 509.5 bolivars.

They would deduct 114.93 bolivars for the cost of drugs or mobilization.

How will the government employees be?

Torrealba also detailed what the collection of public administration employees, both active and retired, would be like.

« Activities of APN (Public Administration) They will charge the equivalent of Bs to 30 USD as war bonds equivalent in plus Bs to 40 USD meal ticket and your salary War bonds and food stamps would be indexed from time to time.

For retirees in this area, the economic warfare bond will index $49 “periodically” plus the amount they collect for retirement.

While private sector workers will get a $40 food bonus or socialist ticket basket.

An adjustment to the monthly minimum wage was expected this May 1, but Maduro decided to keep it at 130 bolivars; That is, it will continue at the same amount after 14 months. In addition, it raised the food bonus to $40 and this Tuesday raised the so-called economic warfare bonus from $20 to $30, but only to public employees, both active and retired.

Social Security pensioners do not receive a basket of socialist tickets and will only receive an economic war bond of $20.

Nation World News Desk
Nation World News Desk
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