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The Government set a new increase for pensions: how much will the minimum pension be in October? - Infobae
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El Gobierno fijó un nuevo aumento para las jubilaciones: de cuánto será el haber mínimo en octubre
Aunque el bono de $70.000 no fue oficializado, el Ejecutivo ya adelantó que tiene previsto pagarlo junto con los haberes jubilatorios del próximo mes
www.infobae.com
September 23, 2024
Although the $70,000 bonus was not made official, the Executive has already announced that it plans to pay it along with retirement benefits next month.
The Government maintains the retirement mobility established by decree (Photo: NA)
After the Chamber of Deputies insisted on vetoing the retirement formula , the Government made official a new increase for pensions that will take effect from October. How much will the minimum pension be?
Through resolution 798/2024 of the National Social Security Administration (ANSES) , published this morning in the Official Gazette , the Executive set the minimum retirement at $244,320.56 . Previously, the minimum value was $234,539 .
In this regard, the maximum amount was set at $1,644,046.07. In turn, the parameters of the non-taxable bases , which range from $82,287.12 to $2,674,292.72.
In this way, the national Government also increased the amount of the Universal Pension for the Elderly (PUAM) , whose value was set at $195,456.45 .
Although it has not been made official yet, the Government has already ratified the delivery of a $70,000 bonus for those retirees and pensioners who receive the minimum pension . This bonus, which has been a palliative measure against the sustained increase in inflation, helps to increase the income of millions of retirees, although it is still insufficient to cover the increase in the cost of living. Thus, for example, those people who receive the PUAM will receive $265,456.
This increase is part of the system of updates implemented by the national Government through decree 274/2024 , which establishes the retirement mobility that currently governs after the Executive vetoed the Congress law. This rejection had the support of 87 deputies .
The minimum pension increased by nearly 10 thousand pesos
The Government's system was one of the main modifications implemented by Javier Milei since he assumed the Presidency, with the aim of making pensions more directly reflect increases in prices in the economy. With this methodology, the pensions of retirees and pensioners are updated month by month taking into account the inflation data of the previous month. Consequently, in October 2024, pension pensions will be adjusted based on the August CPI, which guarantees that retirees' income maintains a certain level of updating against inflation .
Had the law proposed by Congress been enacted, the increase in September would have been 8.1%, bringing the minimum pension to $253,303 and, with the bonus included, to $323,303. However, current pensions remain considerably below this figure.
Decree 782/2024, with which the Executive rejected the law, alleges that the initiative of the Legislative Branch is “ manifestly in violation of the current legal framework since it does not consider the fiscal impact of the measure nor determine the source of its financing .” This was the main argument that the Executive maintained since the sanction of the law. They also stated that the project “suffers from serious technical and operational deficiencies that highlight its manifest unreasonableness and the serious difficulties that its implementation would present .”
In this regard, they emphasized that the Budget was designed based on a "general government program - which is not simply the President's program, but the program that the people voted for when they elected the President - and the public investment plan."
On the other hand, they warned in the preamble of the norm that the initiative would complicate the recovery of the pension system by projecting that it would generate future non-compliances and debts with the beneficiaries by not specifying the source of financing.
To illustrate their arguments, they mentioned that the estimated impact of the measure amounts to 6,160,000,000,000 for the year 2024, that is, six hundred and sixty billion pesos, and about 15,430,000,000,000 for the next year. These numbers “are equivalent to 1.02% of the Gross Domestic Product (GDP) calculated for the current year; and 1.64% of that, estimated for the next year.”
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