President of Costa Rica, Carlos Alvarado, confirmed his decision of renouncing the right to receiving the ex-Presidents’ pension after he leaves office.
By law, in Costa Rica, the Presidents have the right to receive their pension once they leave office, the amount is of an approximate 4 million colones (close to $7,000 USD) a month.
“On May 9. 2022, I will present my letter to the Direction of Pensions of the Ministry of Labor to resign to it. The pensions are meant to protect and not to enrich”, said Alvarado who is the youngest president the country has had, he is now 39 years of age. “After this is over, I will go look for a job”, concluded Alvarado.
President Alvarado said he will wait, just like any other Costa Rican to be 65 years-old to claim his pension through the Social Security Service, where he will receive a maximum of close to 1.6 million colones a month (approximately $2,800 USD).
No other president in Costa Rica has resigned this right in the past. (https://news.co.cr/president-of-costa-rica-carlos-alvarado-announces-he-will-renounce-right-to-receive-ex-presidents-pension-7000-usd-per-month/80947/)
