Proposal In Nicaragua to Raise Employer Contributions

In order to balance the social security finances the Government of Nicaragua wants to increase employer's contributions from 16% to 19% .

Friday, October 4, 2013

Bayardo Arce, economic affairs adviser to the President, was the person who presented the project to representatives of the Superior Council of Private Enterprise (Cosep).

"... The first point of the proposal is that the Government undertakes to pay 2% of the state's debt to the INSS, estimated between $580 and $600 million, or pay it off within 50 years", reported Prensa.com.

In addition they are also proposing that employer's Inss contribution will increase by 3% for the next three years, 1% per year between 2014 and 2016.



More on this topic

Nicaragua: No Deal on Minimum Wage

March 2014

The Ministry of Labor will define the wage adjustment in the absence of an agreement between the private sector and trade unions.

In the last meeting on 13 March the parties were not able to reach an agreement. The private company proposed an increase of 9%, while unions demanded an adjustment of between 10% and 14%.

Guatemala: Minimum Wage To Increase by 5% in 2014

January 2014

For the second consecutive year the increase was agreed between the private sector, trade unions and the Government.

A press release from the Government of Guatemala reads:

The Government of Guatemala has announced an adjustment to the minimum wage for 2014, representing an increase of 5%, as was announced by the Minister of Labor, Carlos Contreras.

Nicaragua: Employer Contributions To Rise 1% starting January

December 2013

Through this move, transfers by private and state employers to the Nicaraguan Institute of Social Security will increase by $26 million.  

This was announced José Adán Aguerri, president of the Superior Council of Private Enterprise (Cosep). Of that $27 million, $6 million will be provided by state enterprises and the rest by private companies.

Nicaragua: Minimum Wage Adjustment Every Three Years

August 2013

The proposal by the business sector, which includes negotiating and approving wage agreements every three years, aims to stimulate investment and create more stability.

The initiative would be presented to the Government and the trade unions by the Superior Council of Private Enterprise (Cosep).

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