Law

Challenges for the labor market

Challenges for the labor  market

Like many other countries in the region, Costa Rica has entered a process of demographic transition characterized by a decrease in its younger demographic groups. This is a consequence of two main factors (both of which are related to significant improvements in the health care system): a decrease in fertility rate and an increase in life expectancy. The described phenomenon has entailed significant changes in the economically active population (EAP), and it is estimated that by 2050, the EAP pyramid will be almost rectangular.

Retirement Conditions and legal age

Retirement Conditions and legal age

In Guatemala, retirement is treated differently for public and private employees. For public employees, the following regulations apply for each retirement plan:

a. Voluntary (1): when an employee has 20 years of service regardless of his or

her age .

b. Voluntary (2): when an employee reaches age 50 and proves a minimum of 10 years of service.

c. Mandatory: when an employee has reached 65 and proves a minimum of 10 years of service.