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Economy Retirees: how much they will earn in May 2024 with the new Anses mobility formula and what will happen to the bonus - Infobae

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Retirees: how much they will earn in May 2024 with the new Anses mobility formula and what will happen to the bonus - Infobae​


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Source:


April 18, 2024

The application of the new adjustment formula has already been officially specified while confirmation of another supplement of $70,000 for minimum assets is awaited

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In May the salaries will be disbursed in a single payment (Facebook)

Based on the new pension scheme implemented by the Government, the National Social Security Administration (Anses) has updated the retirement and pension amounts that will apply from May 2024. This adjustment was detailed in Resolution 97/2024 , published in the Official Gazette, under the direction of Mariano de los Heros .


Established Amounts:​

  • Minimum Asset: Starting in May, the guaranteed minimum asset will be $190,141.60.
  • Maximum Asset: The maximum asset will amount to $1,279,472.92 from the same month.
  • Have a minimum plus bonus: If the $70,000 bonus is made official, beneficiaries with a minimum will receive a total of $260,124.17
These new values arise from the recent measurement of retail inflation in March, which was 11%. By applying this percentage to the previous minimum amount of $171,283.31, the new minimum asset is obtained.

Future Adjustments​


The salary adjustment methodology will continue to be based on inflation for the second month prior to the collection month, allowing for monthly updates. For example, April inflation, which is estimated to be lower according to consulting firms, will determine the June amounts.


Contributions and Benefits:​

  • Tax Base: The minimum and maximum tax bases are established at $64,039.66 and $2,081,258.67, respectively.
  • Universal Basic Benefit (PBU): It has been set at $86,981.11.
  • Universal Pension for the Elderly (PUAM): It was established at $152,113.28.
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The head of the Anses, Mariano de los Heros

$70,000 bonus​

Although it has not yet been confirmed whether there will be a bonus in May through the Official Gazette, if the value of $70,000 from previous months is repeated, the minimum amount with bonus would be $260,124.17, which represents an increase of 7.81 % compared to April.


This calculation takes into account that a fixed bonus would have a decreasing impact on total income as the minimum asset increases.

The bonus would thus be applied to all assets that do not reach $260,124.17 without add-ons, thus establishing a floor. Those who earn more than $190,141.6 and less than $260,124.17 will have an equivalent additional amount to reach the second value.

Anses will fully formalize the scheme in July, with adjustments based on May inflation. In addition, there is speculation about the continuation of a $70,000 bonus, although it has not been officially confirmed, reflecting the government's intention to avoid further compression in the structure of retirement benefits.

Payment in a single installment​

With the arrival of the May benefits, the payment divided into two installments that some of the beneficiaries received would come to an end. The establishment of two different payment dates was an exception corresponding to April, which should not be repeated in the future according to sources from the pension entity.

The payment in two installments that is in process this month responded to “administrative issues,” according to the words of the Minister of Economy, Luis Caputo . The change in the mobility formula, from a quarterly update based on a formula composed of collection data and recorded salary variations to a monthly update due to inflation, arrived late for the April payment.

“The salary settlement process takes a month. Anses had already processed the credit according to the previous criteria. The DNU thing with the new increase came out later, so a new process had to be started for the increase,” sources with knowledge of the Anses payment method told Infobae.

“Around the 23rd of each month, Anses sends data to the paying banks on the exact amounts received by each retired pensioner. When the time for payment comes, he then transfers the money. It is a common bureaucratic process that has its times. The decree that changed the mobility mechanism arrived late for that process. That is why this splitting occurs in the first month. “It should not be repeated in subsequent months ,” they clarified.
 
This looks great for retirees. Unless I am missing something aren't retirees thrilled with Milei and these new changes?
 
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