After intense negotiations, the social partners agreed a rise in the national minimum wage (SMN). As of October 1, 2014 it will go up from 485 euros to 505 euros per month. To ease the financial burden on Portugal’s businesses, the government has lowered their social security contributions on workers receiving the minimum wage (TSU) by 0.75%. On this basis, the CCP union (Confederation of Trade and Services) accepted this rise in the minimum wage, which had been frozen since 2011. The CGTP union refused to sign the agreement, sticking to its demands for a rise to 515 euros per month.
A rise in the national minimum wage. As of October 1, 2014, the minimum wage will rise by 20 euros per month. The minimum wage had been frozen since 2011 because of conditions in the international bailout (the troika) required increases in the minimum wage be dependent on the economy coming out of recession. The government put forward a reduction in the employers social security contribution for workers receiving the minimum wage of 0.75 euros (TSU, single social tax) taking the rate from 23.75
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