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  1. Employment & Compensation
  2. Peru: Minimum living wage increase

Peru: Minimum living wage increase

02 Jan 2025    1 minute read
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In brief

On Friday, 27 December 2024, the executive branch announced that the minimum living wage (RMV) would be increased. As of 1 January 2025, the RMV will increase from PEN 1,025 to PEN 1,130. This increase of PEN 105 was decided after several meetings of the National Labor Council, although a total consensus was not reached.

Thus, through Supreme Decree No. 004-2024-TR, published on 28 December 2024, the increase in the RMV for workers subject to the private labor regime has been made official.


Contents

In more detail

Some of the main labor implications of this increase are as follows:

  • The increase in the RMV implies an increase in the labor cost of workers who receive the minimum wage. In effect, not only will the monthly remuneration be increased, but also the two bonuses, the CTS (Compensation for time of service), the EsSalud contribution, the Life Insurance Law and others.
  • The family allowance will be increased by PEN 10.50 per month.
  • The RMV for night work is the RMV plus 35%, so workers who work night shifts will receive an income of no less than PEN 1,525.50.
  • The RMV for the mining sector is the RMV plus 25%. Therefore, the minimum income in the mining sector will be PEN 1,412.50.
  • The Special Bonus for Agricultural Work is 30% of the RMV, equivalent to PEN 339 as of January 2025.
  • The minimum subsidy received by those participating in training programs will also be increased.

We hope this information is relevant to you and your company. Please do not hesitate to contact us if you require any advice in this regard.

Contact Information
Michael E. Brewer
Partner
London
Read my Bio
michael.brewer@bakermckenzie.com

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