The next Monday July 1 The minimum wage in the country will increase to $500,000 per montha figure that will not only impact the pockets of workers, but will also cause an increase in some bonuses and benefits granted by the State.
It is important to note that this will not be the only increase that the minimum wage will experience in the coming months, since the January 1, 2025this must be readjusted according to the Consumer Price Index (CPI) reported between July and December 2024.
All about minimum wage
What benefits increase with the increase in the minimum wage?
Starting July 1, not only will the minimum wage increase, but the amounts of other benefits granted by the State that are based on this base salary will also increase.
Child Bonus
The first benefit that will also be readjusted is the Child Bonusa bonus intended to increase women’s pensions granted by a amount of money for each son or daughter who has been born alive or who has been adoptedthat is, it is not paid at the time of birth, but together with the pension.
The calculation of this bonus is equivalent to 10% of the minimum monthly income for those who work and are between 18 and 65 years old. Its calculation is as follows:
- If your son or daughter was born before July 1, 2009the minimum income in force in July 2009 will apply ($165 thousand).
- If you were born after July 1, 2009the minimum income will correspond to the amount that was valid during the month of your birth.
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With these data, the range of the Child Bonus on July 1 will be between $297,000 and $900,000.
Grace Guesthouse
The Grace Guesthouse It is a benefit awarded by the President of the Republicwhich aims to improve the quality of life of people who are living in a situation of social vulnerability.
THE LAST
This pension can be granted for life or for a defined period, being a variable amount that is set according to the non-remunerative minimum income ($296,511 currently). That is to say, The amount of non-remunerated minimum income allocated for pension varies for each person.
Therefore, the adjustment of the Grace Pension is obtained by multiplying the new amount of the non-remunerative minimum incomewhich will be published on July 1, by the Amount of these revenues that were assigned to each pensioner.
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