Mexico. Generous payments for Pemex pensioners
Some of the state oil company’s generous pensions have come to light through a freedom-of-information request, which found that 14 retired Pemex officials are receiving over 2 million pesos per year, greater than the annual salary of Mexico’s 128 Senators.
The chosen few also receive over 6,000 pesos a month for expenses: gasoline, natural gas and food needs, along with year-end bonuses of close to 400,000 pesos.
The top 14 retirees are paid between 238,000 to 362,000 pesos per month; in comparison, a Senator will earn close to 228,000 pesos during the current year and President Enrique Peña Nieto’s monthly pay comes to just under 360,000 pesos.
One of the Pemex pensioners is Carlos Arnoldo Morales Gil, director of Pemex Exploration and Production until February 2014. Last year his pension was more than 3 million pesos.
Morales is now the CEO of PetroBAL, an oil exploration and production firm and direct competitor of Pemex.
The retirement plans represent a massive financial strain on a company already struggling to make ends meet, but the worst could be yet to come.
Full Content: Mexico News Daily
