For several days, the president has been calling on citizens to join him to witness the signing of the law, which is aimed at helping more than two million elderly people to obtain a pension voucher.

Talking about the reform, the head of state said it includes increases in the pension subsidy for elderly people and recognition of the performance of women who have chosen to do domestic work in their homes.

He also added that subsidies will be reduced to two population groups and the amount of these subsidies will be increased to 230,000 pesos (approximately 60 dollars at the current exchange rate), so that one person can be lifted out of poverty and this benefit can be extended to two million elderly men and women.

He also asked the Constitutional Court not to give in to the demands of opposition sectors that are seeking to challenge the initiative and who, he said, do not want the money to be given to three million people, but rather to see it converted into bankers’ profits.

This law, he remarked, is the true construction of the social rule of law, and it is the Constitutional Court that created the Constitutional Assembly of 1991 that has the task of overseeing and making this rule of law a reality.

As instituted, the Pension Reform will come into effect as of July 2025.

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