June has always been characterized as the month of ‘Bonus’ and it is no wonder, since many workers look forward to this season to receive the mid-year bonus.
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It should be noted that this benefit, which employers must provide on a mandatory basis, must be paid before June 30 to employees who are under a defined or indefinite contract.. In addition, it must be proportional to the time worked, as established in the Substantive Labor Code of Colombia.
Now, it is true that there are different types of bonuses, which are duly regulated in the Substantive Labor Code. The service premium and the extralegal premium are two of these.
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Pensioners
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Also for pensioners
But not only workers will receive the ‘Premium’ in June, In accordance with Law 100 of 1993, valid until 2011, an additional annual allowance was established (Mesada 14) for pensioners due to retirement, disability, old age, survivors and members of the Public Force who meet certain requirements such as:
Have been pensioned before July 25, 2005, with a pension that did not exceed 15 current legal monthly minimum wages. Have been pensioned between July 25, 2005 and July 31, 2011, with a pension not exceeding 3 current legal monthly minimum wages.
It should be noted that those people whose pension does not exceed the aforementioned amounts will be entitled to Allowance 14, while those who exceed these limits will not be entitled to this additional benefit. Know that the payment of this allowance is made in June, and will depend on the day you receive your allowance.
Be careful and people who have retired after July 31, 2011 do not have the right to claim this additional allowance, since that right no longer applies.
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