The law proposes a monthly update of pensions based on the latest data from the Consumer Price Index (CPI). Javier Milei anticipated that he will veto it if it is approved.
The bill seeks to restore retirement benefits.
Through an agreement between Union for the Homelandthe UCR and others dialogic blocks, the opposition managed to arrive in the Chamber of Deputies the half-sanction of the bill that seeks to recompose retirement benefits, which must be debated in the Upper House. How much would the minimum retirement to be approved.
The law proposes a monthly update of the assets for the Consumer Price Index (CPI). However the president Javier Milei He already anticipated that he will veto it if it is approved in the Senate.
How much minimum retirement will be charged with the new project
The Government granted a 12.5% recomposition in April that does not cover the 20.6% inflation in January because it was left out of the update, but it consists of an extra compensation of 8.1%. In this way, it was established that the minimum asset is equivalent to the value of the Total Basic Basket of an adult.
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Senate Press
The proposal also establishes an additional increase in the fifty% of the difference between the salary variation and the evolution of prices in the same period of time (if there was a salary recovery above inflation).
Taking into account the Total Basic Basket for April, which was $268,012June values They would be around $292 thousand for those with a single income. Currently, with the government’s retirement mobility formula, salaries are updated for inflation with a two-month delay.
Javier Milei anticipated that he will veto it
In the event that the law is approved, the Argentine president has already anticipated through his X account that it will veto : “I will defend the box with a pure veto if necessary. With pure fiscal deficit they impoverished the country, so in no way am I going to allow this to be repeated.”
“If we stay on the path we have set, the political wheels will not only slow down the fall in inflation but will also take away the strength of the recovery, but in no way will they push us to change our direction”he added.
Source: Ambito
