Economy & Business - November 2024

PARAGUAY | New universal pensions law. On 28 October, President Santiago Peña promulgated a law that establishes a universal pension for senior citizens in Paraguay. The law had been approved by congress in September. Under the new law, adults over 65 who do not contribute to social security and do not receive a salary from the public or private sector will receive a monthly pension of no less than 25% of the current minimum wage. The law also establishes the same pension for adults with severe disabilities from the age of 60, and for indigenous community members from the age of 55. Peña stated that: “Today we took another step forward to protect and care for those who have given us so much….For me, ensuring the wellbeing of our senior citizens is not only a responsibility, but an act of gratitude to those who came before us and worked for the Paraguay we have today.”

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