Today, April 1st the Costa Rican Congress approved a Law that allows workers to withdraw the savings accumulated in the labor capitalization fund in some cases. This measure seeks to palliate the economic effects of the labor flexibility measures implemented in Costa Rica by COVID-19.

Some important aspects are:

  • When can the worker ask for their savings?

It can be requested in the following cases:

  1. Temporary suspension of the employment relationship
  2. Reduction of the work shift
  • What do I need collect the savings?

The request must be submitted to the corresponding operator, attaching a letter from the employer stating the suspension or reduction of working hours.

If the information is not completed, there is a 48-hour period to prevent what is missing.

  • How soon will the savings be delivered?

The operators will have a maximum term of 15 working days to turn the resources through electronic transfer. The term is suspended in case of incomplete requests or in case of suspicion that the information is not true.

 

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