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Pensioners call for a mass protest on May 25


Posted 21/05/2022

The National Coordinator of Retirees and Pensioners shared on Saturday a video calling for a protest in the Cathedral Square, on Wednesday, May 25, if they do not receive a response from  President Cortizo, to set up a work table that determines the contributions it will receive from the extraction of copper for the Disability, Old Age and Death (IVM) program of the Social Security (CSS).

 Roberto López, president of the group, tells Cortizo that his message in March, when he announced a percentage of income from copper extraction will be used for the (IVM) program.), "has left us a message of insecurity and a feeling of false happiness because it is not clearly defined what will happen with retirement pensions for old age that is contemplated in article 192 of Law 51 of 27 December 2005".

He added: "There were no details on this important topic, the statements were somewhat ambiguous and it is not clearly explained what will really happen where there are about 200,000 Panamanians who are the most affected and who have pinned their hopes on the increase.

"The Coordinator hopes that Cortizo will announce an acknowledgment of receipt of the letter until May 24, otherwise they will take to the streets to generate a general strike.

On March 28, Cortizo announced that 50% of the minimum annual income from the extraction of copper concentrate, of Minera Panama, a subsidiary of the Canadian First Quantum Minerals, will be allocated to  IVM program 20% will be allocated so that no retiree and/or pensioner receives less than $350 a month in their pensions.

According to Cortizo, the Contract Law project, will be presented to the Minera Panamá company and once signed by both parties, it will be sent to the National Assembly.

As of December 31, 2021, Panama had 110,675 people who could benefit from the contributions from the extraction of copper concentrate.


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