politics

Torrijos approves bonus for retirees

About 175,000 retirees will receive a $60 “bonus” next month to help with rising food costs.

Noriel Gutiérrez/LA PRENSA

payment:President Martín Torrijos announced a cash payment to 175,000 retirees yesterday to help offset inflation. 1048616

Faced with the pressure of continued cost of living increases and amid plummeting approval ratings, President Martín Torrijos announced a series of measures for retirees and seniors yesterday. The proposal involves the distribution of an annual bonus of $60 to 175,000 retirees and pensioners. The payment, which will cost the government $10.5 million, will be delivered in July this year. It will then be paid on an annual basis in December, meaning seniors will actually receive two bonuses this year.

The president also said that 10,000 seniors who are living in extreme poverty will be included in a program that will make them part of the “Red de Oportunidades,” program, a move which has been derided by critics as election-year politicking.

At a ceremony to announce the changes, Torrijos noted that legislation has already been approved granting seniors discounts on medicine and waivers on some government fees at the Registro Público.

He also highlighted the implementation of the “Programa de Atención al Consumidor” which reduces the income tax on people earning less than $860 a month this year and less than $2,500 a month in 2009. That law will affect an estimated 110,000 people.

The measures were criticized by some as not going far enough.

Pensioner representative Eladio Fernández said that the president should have introduced a measure that would make speculating on food a crime since that causes prices to rise.

The measures, however, were supported by Rafael Medina, a member of the confederación de jubilados.