Reference Value Report: Living Wage and 2024 Update for Non-Metropolitan Urban Chile
2024 Reference Value Update Report: Living Wage Report for Non-Metropolitan Urban Chile
Abstract
This report updates the Anker Living Wage Reference Value for non-metropolitan urban Chile to 2024. This was CLP 623,057 (USD 751) for 2020 in the original report, comprised of a Net Living Wage of CLP 513,399 (USD 619), plus a social security contribution of CLP 109,658 (USD 132). The updated Anker Gross Living Wage for 2024 is CLP 811,442 (USD 877) per month, comprised of a Net living Wage of CLP 668,628 (USD 722), plus CLP 142,814 (USD 154) in mandatory pay deductions which would need to be paid by law as a contribution to the state health fund (7.0%), unemployment insurance (0.6%), and pension contribution (10.0%). Inflation in this period was 30.2%. Without accounting for inflation, the Living Wage estimated in 2020 would not be sufficient for families to have a basic but decent standard of living in 2024, because the purchasing power of the Living Wage would have decreased. Mandatory deductions were calculated using laws in force in June 2024.
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Original Report
2020 Reference Value Report: Living Wage Report for Non-Metropolitan Urban Chile
Abstract
The Anker Living Wage Reference Value for 2020 for non-metropolitan urban Chile is CLP 623,057 (USD 751)2 per month with a 95% confidence around it from CLP 550,039 to CLP 705,777 (USD 663 to 851). This is comprised of the net living wage, or take-home pay, of CLP 513,399 (619 USD) required for workers living in non-metropolitan urban locations to be able to afford a basic but decent living standard in a typical non-metropolitan urban area of Chile, plus CLP 109,658 (USD 132) in mandatory payroll deductions on a living wage of 17.6%, which would need to be paid by law as contributions to the state health fund (7.0%) and unemployment insurance fund (0.6%), and in private pension contributions (10.0%).
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