By means of passing on a portion of retirees’ income as a “bonus”, The Government would be cutting about $52,000 per month to the beneficiaries at the base of the pyramid.
It is about of the $70,000 bonus that has been frozen since March of this yearwhich is for minimum pensions and aims to ensure that no beneficiary falls below the minimum wage. The reality is that this benefit was created with the government of Alberto Fernández, as soon as the adjustment formula was changed.
When the previous government repealed the Cambiemos formula, which had an inflationary component and another for salary evolution, it switched to one that combined salary adjustment with tax collection. It soon became clear that the change represented a loss compared to the previous formula and so the government began to give bonuses. to compensate.
Cannot remove bonus
Whether in the short or long term, Whatever government it is, it will not be able to eliminate this aid without generating a significant loss in the income of pensioners with minimum pensions. which amounts to 3.8 million. The bonus is therefore becoming a regular component of retirees’ income and should therefore be adjusted for inflation, as is the case with the basic pension.
According to estimates by the According to economist Hernán Letcher, director of the Center for Political Economy of Argentina (CEPA), pensioners with the minimum pension would be losing about $52,000 per month, which is equivalent to a “saving” of $165.5 billion per month. It should be remembered that this is $3.8 million of people.
Based on the new formula, September salaries will rise by 4%, in line with the increase in inflation in JulyThe increase includes non-contributory pensions and child benefits received by formal employees.
In this way, The minimum will rise from $225,454.42 gross to around $234,540 while the maximum will go from $1,517,094.80 gross to $1,578,234.With the discounts for PAMI, $227,504 and $1,490,576 remain in hand. With theThe sum of the bonus at the base of the pyramid rises to $304,450 pesos.
In other words, while Those who earn more receive increases that help them maintain their purchasing powerthose below are losing.
Source: Ambito
