On November 7, 2020, Law No. 21.283 was published, which readjusts the Minimum Monthly Income, the family and maternal allowance and the family subsidy. In the core and related to the Minimum Monthly Income, this law provides for the following:
1. As of September 1, 2020, the Minimum Monthly Income is increased to $326,500, for workers between 18 and 65 years old.
2. As of September 1, 2020, the Minimum Monthly Income will be increased to $243,562, for workers under 18 and over 65 years of age.
3. As of September 1, 2020, the Minimum Monthly Income is increased to $210,458, for non-wage purposes.
4. In April 2021, the President of the Republic must present a new bill proposing an adjustment to this Minimum Monthly Income, with the intent of commencing on May 1, 2021.
5. It also establishes that the greatest expense represented by the application of this law in the year 2020 will be financed with public funds and in the year 2021, the resources will be indicated in the Budget Law.
In case you require additional information on this matter, you may contact Alfred Sherman (firstname.lastname@example.org) and/or Felipe Ovalle (email@example.com)