LAW 445 1998
Official Gazette No. 43,324 of June 19, 1998 CONGRESS COLOMBIA
Whereby special increases to allowances are established and dictate other provisions. DECREES
ARTICLE 1o. Pensions, invalidity, old age and survivors in the public sector at the national, financed with resources from the national budget, the Institute of Social Insurance and pensioners of the Armed Forces and the National Police, retaining the latter his regime special, will have three (3) increases, which will be held on the 1st. January of 1999, 2000 and 2001. For the year 1999 this government included in the budget of that year, the corresponding item. Effective Jurisprudence
The total increase over the three years will be equal to 75% of the value of the positive difference, at the time of entry into force of this law, resulting from subtracting the initial income pension, the current pension income. Effective Jurisprudence
If the result of applying this percentage exceed two (2) minimum wages, the total increase will amount latter two (2) minimum wages. This total increase was distributed in three equal annual increments, to be held on the dates mentioned here. If the difference between the initial income and current pension income is negative, there is no room to increase. Effective Jurisprudence
. Special increments referred to in this Article, shall be made once applied Article 14 of Law 100 of 1993 and for the pensioners of the Armed Forces and the National Police shall be made retaining their special status. PARAGRAPH 2.
. For purposes of the provisions of this Act, the term initial pension income, annual income monthly basis, received by legal and extralegal concept in terms of minimum wages at the time, he perceived the server by way of the pension during the calendar year immediately following that in which payment of it began. Likewise, it is understood by current income, annual income monthly basis, by legal and extralegal concept in terms of minimum wages, which is perceived because of the pension in the immediately preceding that calendar year in which the first increase takes place . PARAGRAPH 3.
. Yearly income monthly basis in terms of minimum wage equals the value of all sums paid to pensioner pension payments during the respective calendar year, divided by twelve and expressed in equivalent monthly legal minimum wages in that year. For purposes of this calculation, all the pension payments paid between January and December of the respective year will be taken. Effective Jurisprudence
. This law governs since its enactment and promulgation.
Amylkar ACOSTA MEDINA.
The President of the honorable Senate,
PUMAREJO PEDRO VEGA.
The Secretary General of the honorable Senate,
CARLOS ARDILA BALLESTEROS.
The President of the honorable House of Representatives, DIEGO VIVAS
The Secretary General of the honorable House of Representatives,
REPUBLIC OF COLOMBIA - NATIONAL GOVERNMENT PUBLISHED AND RUN
Given in Santa Fe de Bogota, DC, 17 June 1998.
Ernesto Samper Pizano URIBE JOSE ANTONIO URDINOLA.
The Minister of Finance and Public Credit,
CARLOS BULA CAMACHO.
The Minister of Labour and Social Security,