Under the plan, some para/iscales - those financing ICBF (2%) and SENA (3%) - and the employers’ health care contributions (8.5%) will be abolished for firms employing workers with monthly wages under 10 times the monthly minimum wage. By reducing contribution rates on wages by 13.5 percentage points, the reform aims at creating between 400 000 and 1 million formal jobs. Non-wage labour costs will, however, remain above the OECD average and most other LACs.