Governor Pedro Pierluisi today assured that he will protect pension payments to government employees despite efforts by the Fiscal Control Board (JCF) to implement austerity measures in this area amidst government debt restructuring.
“Public pensions in Puerto Rico must be honored. They must be paid in full. The government must pay them in full. My approach to the board is that it is not necessary and not legally required for the board to make cuts in pensions in the adjustment plan that he is submitting or presented to the court for approval today, ”said Pierluisi at a press conference in La Fortaleza.
The president even stated that they would seek funding to fund pensions in case the board pushes for austerity.
“Anyway, if it’s a cut, because it’s my promise that in the way that I can legally protect this industry, I’ll protect it. Be that as it may, after it’s legal, I’ll protect the pensions. “resources we have” What we should look for so that there is no cutting back on public pensions in Puerto Rico, “he said.
The JCF has proposed cutting pensions of more than $ 1,500 a month for civil servants by 8.5%. The tax entity planned to file today an adjustment plan to restructure the country’s debt, which would include the said reduction in these benefits for certain government sector employees.
“In other jurisdictions, public debt has been adjusted and restructured without the need to cut pensions. And if there is one case where this is justified, it is in Puerto Rico, as the main public pension system in Puerto Rico was radically reformed in 2013. In other words, before the board arrived, the public pension sector on the island had already been hit and there is no need to re-influence that sector, ”added the governor.