In the Headlines
September 3, 2020

What is the Truth about Decree 1174?

Dinero
Labor, Employment and Benefits Partner Vicente Umaña Carrizosa was interviewed for an article published in the magazine Dinero titled "What is the Truth about Decree 1174?" In this articule, Mr. Umaña Carrizosa responds to the argument that the decree encourages companies to pay less than minimum wage to their employeers, affirming that they cannot pay less than the minimum established by law.

"If you work full time eight hours a day and 48 hours a week you cannot earn less than the minimum, but if you do not work full time because you are paid less than the minimum, this is how it works today," he said. "Today you cannot contribute for less than the minimum and this decree opens that possibility so that people who earn less can contribute to a pension."

READ: What is the Truth about Decree 1174?

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