445 OF 1998

(June 17)

Official Journal No 43.324 of 19 June 1998

COLOMBIA CONGRESS

By which special increases are made to the mesads and other provisions are dictated.

DECRETA:

ARTICLE 1o. Retirement, invalidity, old age and public sector survivors of the national order, funded from national budget resources, the Social Insurance Institute, as well as the They will have three (3) increases, which will be carried out on the 1st. of January 1999, 2000 and 2001. For the year of 1999, this government shall include in the budget of that year, the corresponding item.

The total increase over the three years will be equal to 75% of the value of the positive difference, at the time of the entry into force of this law, which will result from subtracting from the initial pension income, the current pension income.

In case the result of applying this percentage exceeds two (2) minimum wages, the total increase will be the latter amount of two (2) minimum wages. This total increase will be distributed in three equal annual increments, which will be made on the dates mentioned above. If the difference between the initial income and the current pension income is negative, there will be no increase.

PARAGRAFO 1o. The special increases in this article will be made after the application of article 14 of the Law 100 of 1993 and for the pensioners of the Forces The military and the National Police will be held to preserve their special regime.

PARAGRAFO 2o. For the purposes of this law, it is understood by initial pension income, the annual monthly income, received by legal and extralegal concept, in terms of minimum wages of the period, which received the server by way of the pension during the calendar year immediately following the one in which the payment was initiated. Also, it is understood by current income, the annual income which is mensualized, by legal and extralegal concept, in terms of minimum wages, that is received by reason of the pension in the calendar year immediately before the one in which it is carried out the first increment.

PARAGRAFO 3o. The annual monthly income in terms of minimum wages is equal to the value of all the sums paid to the pension by pension months during the respective calendar year, divided by twelve and expressed in its equivalent in monthly legal minimum wages in force in that year. For the purposes of this calculation, all the pension tables paid between January and December of the respective year will be taken.

ARTICLE 2o. This law governs from its sanction and enactment.

AMYLKAR ACOSTA MEDINA.

The President of the honorable Senate of the Republic,

PEDRO PUMAREJO VEGA.

The Secretary General of the honorable Senate of the Republic,

CARLOS SQUIRLA BALLESTEROS.

The President of the honorable House of Representatives,

DIEGO VIVAS TAFUR.

The Secretary General of the honorable House of Representatives,

COLOMBIA-NATIONAL GOVERNMENT

PUBLISH AND EXECUTE.

Dada en Santa Fe de Bogota, D. C., 17 June 1998.

ERNESTO SAMPER PIZANO

JOSÉ ANTONIO URDINOLA URIBE.

The Minister of Finance and Public Credit,

CARLOS BULA CAMACHO.

The Minister of Labour and Social Security,