Ecuador: 10,000 Bureaucrats Want To Use Forced Retirement Decree For Benefits

According to ElComercio.com the National Confederation of Public Servants (Conasep) calculated that about 10,000 bureaucrats are interested in the new decree, which announced a voluntary retirement due to age. Officials say article 81 of the Organic Law of Public Service (Losep) establishes that workers under the age of 70 can take advantage of the new Executive Decree 813, by receiving a one-time retirement payment. Officials say the Ecuadorian government is gathering a list of people who will take the voluntary retirement agreement for an accurate 2012 budget proposal. Officials say the people who take this option will receive 150 basic salaries, giving a person who worked for 30 years after their first 5 years of service, a one-time retirement payment of $39,600. However, the government estimates that the payments will cost a total of $140 million, while the Labor Relation’s portfolio estimates that total cost at $160 million.Read Article