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ANSES retirements will rise 11% in May and the minimum will be $190,000

ANSES retirements will rise 11% in May and the minimum will be $190,000

The ANSES retirements and pensions will rise 11% in May, in line with March inflation, as established by the decree of necessity and urgency (DNU) 274. What is not yet known is how much the additional bonuses that the Government will have Javier Milei so that assets do not fall too far behind prices.

This increase is equivalent to the variation in the Consumer Price Index (CPI) for March, which was 11%, according to Indec data. As a result, The minimum retirement will increase to approximately $171,283.31 to around $190,124, and the maximum will go from $1,152,574.47 to $1,279,358. These values ​​are gross and approximate, subject to the decimals of the index used.

The 11% readjustment will be applied to this month’s income, which have already experienced a cumulative increase of 27.4% compared to March. With this increase, the accumulated increase in the first three months of the year will be 79.85%, partially compensating for the loss of purchasing power caused by inflation.

DNU 274 establishes a new modality for updating retirements, using the CPI as a monthly reference instead of the mobility formula of Law 27,609. This new modality will come into effect from July, but during the transition period from April to June, monthly updates will be made by CPI, along with additional increases.

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Although the percentage of the increase can already be known, It is not known what will happen to the bonds, in the case of those who charge them. For the current month, the first with an inflation update of the salaries themselves, The Government decided to maintain the amount up to $70,0000, after in March it had increased it by a percentage very similar to the increase in mobility income.

Despite these measures, retirees’ income has experienced a sharp drop in real terms in recent years. In the 12-month period ending in February, the real value of income fell between 29% and 47%, depending on whether and to what extent bonuses were received during that period. This situation has raised concerns about the ability of retirees to maintain their quality of life in the face of inflation.

ANSES: what will happen to the pension moratorium?

On the other hand, there is more news for future retirees. The project of the new omnibus law includes an article that proposes the repeal of pension moratoriums. This mechanism, used by some 800,000 people to retire without complying with the 30 years of contributions required by pension regulations, would be nullified if the text is approved in its current form.

The current moratorium allows interested parties to regularize periods of contributions not made until December 2008, through a payment plan extended in up to 120 installments.

This agreement is managed with the National Social Security Administration (ANSES), and the agreed upon installments are deducted directly from the retirement amount that the person receives upon accessing the benefit. In addition, a specific plan is established for those who are less than ten years away from retirement age, allowing them to begin paying off their pension debts in order to reach retirement without outstanding liabilities.

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These policies were implemented to facilitate access to a pension for those who, for various reasons, were unable to complete the formal requirements for years of contributions, thus offering a solution to improve their financial security in old age.

However, The Government of Javier Milei considers that the moratoriums are one of the causes of the weakness of the system, which has added some 4 million beneficiaries without financing sources being able to cover them.

If the proposed repeal is approved, those who do not meet the legal requirements to retire will only be able to access the Universal Pension for the Elderly (PUAM), which is equivalent to 80% of a minimum retirement.

It is important to note that the repeal would not affect the rights acquired by those who already obtained retirement via moratorium in the past. However, those who planned to use this mechanism in the future would be affected by the measure, having a limited time to regularize their contributions before the new law came into force. This could have a particularly significant impact on women who are close to reaching retirement age and who would lose the possibility of accessing retirement without meeting the contribution requirements.

Source: Ambito

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