HomeEconomyCompanies' contribution to the new Pension Fund is set at 9%

Companies' contribution to the new Pension Fund is set at 9%

Entrepreneurs formally registered in the RNE are exempt from paying this contribution.

In the Official Gazette 42.880 dated May 16, decree 4952 was published in which the amount that companies must pay to the new Pension Fund is established at 9%.

It is also established that enterprises that are registered with the National Registry of Enterprises (RNE) are exempt from paying this contribution.

However, article 4 of the decree estimates that the maximum duration of the exemption benefit established in this Decree will be one (1) year, counted from the date of its publication in the Gazette.

The president of Fedendustria, Orlando Camacho, indicated that the application of the "Law for the Protection of Pensions" which came into force on May 8 after its publication in the Official Gazette, "is transitory", and is estimated to exist as long as the economic sanctions imposed on Venezuela are in force.

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