23 jul. 2011

National Assembly approves loan for payment of pensions

An amount of 4.907.182.934 bolivars (812.534.976 euro) was approved by deputies of the Venezuelan Parliament during this Tuesday's session, to the current expenditure budget of the Ministry of People's Power for Labor and Social Security.

These resources will be transferred to the Venezuelan Institute of Social Security (IVSS) to cancel the payment of pensions, in consideration of age, disability, survivors, disability, housewives and elderly adults.

Currently, the IVSS has benefited 1.810.197 people thanks to the policies of massification and inclusion that advances the Bolivarian Revolution.

This year, 192,000 new pensioners were incorporated, among which, for the contingency of old age, disability, unqualification and survival were 144,000 people and by Decree 7401 were benefited 48,000 people.