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Thursday, December 1, 2022

it is used to calculate increase to retirees

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Another indicator that accounts for the evolution of wages is the Average Taxable Remuneration of Stable Workers (RIPTE)of Ministry of Labor. In September, the average salary of stable workers was $165,421.01which implied a monthly variation of 6.3%, 0.1 percentage points above September’s inflation.

The last two months were marked by salary update negotiations through the parity, which reached increases of up to 113%. Sectors of trade unionism and the Government demand a bond or a lump sum increase, while the Ministry of Labor is still analyzing that alternative.

How are pensions updated?

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The current retirement formula It arises from adding 50% of the quarterly increase in ANSES collection and 50% of the salary variation for the same period. For the latter, the index that has shown the greatest variation between the Indec salary index that will be known this Thursday or that of the Ministry of Labor, known as RIPTE, is considered.

The next increase for retirees and pensioners is set for December, according to the Retirement Mobility Law, which establishes quarterly updates.

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In September, the month of the last update, the rise was 15.53%. In November the minimum credit is $50,353, including the bond of $7,000

When is the minimum wage updated?

The Minimum salary, vital and movil not only defines a frame of reference but other services are updated on it. The SMVM in November is $57,900. Benefits such as Empower Work are assigned half of a Minimum Wage. In the year it will accumulate a rise of more than 80%. However, it still does not reach the almost 100% inflation with which it is estimated that the year will end.

The Minister of Labor, Raquel ‘Kelly’ Olmos, anticipated last week that they estimate that they will convene the Salary Council, an organization that discusses the updates of the Minimum Salary and Unemployment Insurance, in mid-November.

Source: Ambito

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