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Ecuador´s FUT to take to the streets opposing new pension reform

Quito, Jul 6 (Prensa Latina) Ecuador´s Unitary Workers Front (FUT) on Thursday expressed its rejection to proposed pension reforms and threatened to take to the streets "as it happens in France".

FUT President José Villavicencio warned his Front will take to the streets whether the Guillermo Lasso administration decides to support and OK suggestions by the commission in charge of looking for solutions to make the retirement funds of the Ecuadorian Social Security Institute (IESS) more sustainable.

Whether Lasso´s administration decides to move forward with these new reforms it will be the same scenario as in France, Villavicencio stressed at a press briefing.

He pointed out that Lasso’s administration, which has not been so far able to solve the country’s issues, is leaving in a few months and therefore it should not make any decisions.

One of the measures that could be rolled out would be the increase social security contributions from 30 to 35 years to access a retirement pension.

Among modifications, there are no plans to increase minimum retirement age of 60 years, nor to increase current percentages of contributions, but a group of experts suggested to gradually increase up to 30 years to calculate average remuneration.