#Panama 🇵🇦 #BDS_LaborAlert: Termination of Employment Relationship Due to Worker's Retirement
The retirement of a worker in our country involves relevant legal considerations. Firstly, it...
On Tuesday, December 10, the executive decree setting the minimum wages applicable to all occupations in the private sector for the upcoming year was published.
The National Wage Council (CNS), the highest authority responsible for setting wages in the private sector, announced in late October the approval of a 2.37% increase in minimum wages for this sector. This decision was made after reviewing proposals from various stakeholders and reaching a majority agreement among the parties.
This adjustment will be applied across all salary categories defined in the corresponding decree.
Wage adjustment will be mandatory as of January 1, 2025, for all employees earning the minimum wage.
Additionally, differentiated adjustments will be granted for domestic service workers (an additional 2.33%) and ― as part of the standardization process ― for the "Specialized Monthly" category (0.55%).
Executive Decree No. 44756-MTSS, which establishes the minimum wage increase, was published in the Official Gazette, La Gaceta No. 232.
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