SFS will be more expensive

[NewsWhore]

The Executive Branch has sent some changes to Social Security Law 87-01 to Congress. Press reports note that the changes increase the cost companies and insured employees will be required to pay. Diario Libre writes that in the first year of the SFS, which is due to enter into effect in September, workers would have paid 2.56% of their salaries towards the program while employers would have paid 5.97%. The new legislation, which has already been approved by the Senate, increases employees' share to 2.86% and employers' to 6.67%. The costs will be increased each year until they reach 3.04% for employees and 7.09% for employers. Nevertheless, the legislation in Congress would give the Superintendence of Workers Health and Injury programs (SISALRIL) the power to unilaterally vary the contributions to be paid by companies and employees.

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