Pensioners. Pay Extraordinary December. Fund Resources. Retirement Banking Case. Creation-

Original Language Title: Jubilados Y Pensionistas. Paga Extraordinaria Diciembre. Fondo Recursos. Caja De Jubilaciones Bancarias. Creacion.-

Read the untranslated law here:

Law N ° 12.883 Bank retirement box is set to serve their retirees and PENSIONERS, an extraordinary pay in the month of December of each year and creates a resource pool.

The Senate and the Chamber of representatives of the Republic East of the Uruguay, gathered at General Assembly, Decree: article 1.
Retirement banking box will serve its retirees and pensioners, an extraordinary pay in the month of December of each year, according to the rules established in the following articles.

Article 2 °.
They are entitled to pay the extraordinary new year's Eve, all retirees and pensioners whose liabilities are served or had served at the closing date of the financial year referred to in article 10.

Article 3 °.
In cases of members who are absent or have been absent from the country, they must have this with a residence of at least one hundred and eighty days in the financial year in question, to be entitled to the extraordinary pay.

Article 4 °.
The amount of the extraordinary new year's pay, shall be established by the Honorary Board for five compliant votes, at every opportunity, according to the possibilities of the background to these effects created by this Act, and may not be less than two hundred pesos ($ 200.00) not more than 100% of the retirement and pension affiliate.

Set the amount of pay, cleared to each affiliate as many twelve avas parts, as months have been in inaction, during the corresponding period.

For these purposes, you fraccionas them older than fifteen days, they will be taken as a whole month.

Article 5 °.
When accumulate retirement or pension each other or with each other, the liabilities, may not exceed the legal maximum, will add to the effects of the liquidation of the extraordinary pay and pay will be calculated on that amount.

Article 6 °.
Pension where there is concurrence of beneficiaries, the extraordinary pay will be distributed in the same way established for pensions article 24 of Decree - Law N ° 10.331, 29 January 1943.

Article 7 °.
Create extraordinary new year's Eve, which is addressing pay Fund & #225 only the services provided for in this law.
Surpluses that may exist in each fiscal year, will be disposed of to the common retirement fund.

Article 8 °.
The Fund referred to in the foregoing article shall be constituted with the following resources: to) with a contribution of the common fund retirement of up to 3% monthly budget of passivity, is in charge of banking retirement box;
(B) with the contribution of up to 3% per month on the retirement and pension, in charge of affiliates in passivity;
(C) with the contribution of up to 1 / 2% per month on the salaries and wages of the affiliates active in charge of these institutions will deducted and deposited in the manner provided by article 9 of Decree - Law N ° 10.331, 29 January 1943;
(D) with the interest income and income funds and donations and legacies.
The Honorary Council set in each fiscal year contributions that correspond, within the maximum percentage referred to in the preceding subparagraphs.

Article 9.
The Honorary Council of the Bank retirement box may invest the resources of the Fund in placements that ensure its liquidity for the fulfilment of the purposes of this Act, on the Bank of the Eastern Republic of Uruguay and Uruguay mortgage, Caja Nacional de Ahorro Postal and public credit management.

Article 10.
For the determination of the members with right to the extraordinary pay and funds to proceed to establish the amount of the same, the exercise shall be set in the period from 1 October of one year to 30 September of the following year.
In the provisions of this law, when mention is made of the "exercise", refer to the one defined in this article.

Article 11.
(Transitional). The extraordinary pay by the year 1960, will consist of 50% of the pension or pension with a minimum of two hundred pesos ($ 200.00) and will be covered by the common retirement fund.
As laid down in article 3 for cases of absenteeism will be present.

Article 12.
This law shall become effective from the day first of the month following its publication in the "official journal".

Article 13.
(Transitional). If the resources of the Fund which is created by article 7 were not allowed to pay a pay extraordinary end-of year equal to the 1960 to 1961 (50% of retirement or pension, with a minimum of $200.00), the difference in contribution necessary to pay identical benefit, will be in charge of the common retirement fund.

Article 14.
Communicate, etc.

Hall of sessions of the Senate, in Montevideo, to June 21, 1961.

John C. RAFFO FRÁVEGA, President. José Pastor Salvanach, Secretary.

Montevideo, June 27, 1961.

Met, acknowledge receipt, communicate, publish and inserted into the national registry of laws and decrees.

By the Council: HAEDO. EDUARDO A. PONS. JUAN EDUARDO R D COLE. Manuel Sánchez Morales, Secretary.