Evo Morales promulgates new pension law LA PAZ, Dec. 10 (Xinhua ) Bolivian President Evo Morales promulgated the new pension law in Bolivia, which decreases retirement age from 65 to 58 years and ignores the English bank BBVA and Zurich Financial company to manage the funds. The new law transferred the pensions managed by both private organizations to a state body. forecast (BBVA) and Future (Zurich) who controlled the system since 1996.
The bill "has a historical significance" because "the Bolivians develop their own standards for the benefit of the people". The ceremony was held at the headquarters of the Central Obrera Boliviana (COB) to the Legislative Assembly members, ministers, senior military, diplomatic and workers.
law be launched in 2011 and created a solidarity fund with contributions of employers and workers with high incomes to increase income lower. This law replaces the one adopted in 1996 during the administration of former President Gonzalo Sanchez de Lozada, tried in absentia for justice and taken refuge in the United States.
"Bolivia does not need millions of dollars, and experts from the World Bank or IMF to design and approve new laws."
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