The government has convened the Minimum, Living and Moving Wage Council to review the current amounts

On Wednesday the government convened the Council for Minimum, Living and Moving Wage (SMVM) to one appointment next February 15th at the headquarters of the Ministry of Labour, Employment and Social Security a review the amounts in force from December 2023.

The provision was made official with resolution 2024/27, published in the latest edition of Official bulletin and which bore the signature of the Minister of Human Capital, Sandra Pettovello.

The aim of the meeting will be to discuss not only the minimum, living and mobile wage, but also the Minimum and maximum amounts of unemployment benefit.

This is a decision that the ruling party postponed during the first months of its administration. It is that, in reality, The SMVM Council was supposed to convene in December to define the values ​​for the first months of 2023.

Then it was promised to call it for the first days of January, although shortly afterwards the call was set for between the 20th and 30th of that month. Finally, January ended without any news and the call only came this Wednesday. and then between the 20th and 30th of this month.

The minimum wage, which has been stopped since December, is 156,000 pesos. During 2023 it had an increase of 151.8% compared to inflation of 211.4%. Therefore, there was a loss of 19%..

The SMVM Commission brings together trade unionists of the CGT and the CTA and the representatives entrepreneurs like the UIA. It constitutes a sort of national joint which can indicate the percentages of wage increases that unions and employers would be willing to accept for all activities.

What influences the minimum, living and mobile wage?

The minimum wage affects registered monthly or daily workers who earn less than the monthly or hourly minimum wage. And indirectly how reference on unregistered or informal workers.

Also affects the income tax exemption for workers earning less than 15 SMVM (today $2,340,000)

At the same time, it affects the non-garnishment rate of wages, which is equivalent to the amount of the minimum wage, excluding food debts. From this value, an increasing percentage is applied to the difference between the salary received and the SMVM.

Moreover, adjusts the minimum retirement for those who retired with 30 or more years of contributions without resorting to moratoriums. In these cases it must be equal to 82% of the SMVM.

In turn, the unemployment benefit cannot be less than 50% nor more than 100% of the current living and moving minimum wage, depending on the employee’s seniority in the company where he was dismissed without just cause.