Through his Twitter account, Fernández specified that the increase “exceeds by 2.4 percentage points that which would have been granted in the same period with the formula of the previous administration.”
As officially explained, with the new increase, the minimum amount for retirees will be $32,630.40.
Fraschina explained that, with the new formula, approved in Congress in December 2020, pensions rose 52.7% throughout 2021. “With Mauricio Macri’s formula it would have been 48.6%, almost 4.1 percentage points below,” the official said, noting that, with the four increases in 2021, “The mobility formula beat inflation, which was 50.9%”.
Fraschina stated that during the administration of Mauricio Macribetween 2016 and 2019, retirement and pensions lagged “20 points” against inflation.
“We guarantee with the formula a constant increase in purchasing power and that it is also sustainable to gradually recover what was lost during the four years of (Mauricio) Macri”added the Secretary General of Anses.
For her part, the regional head of Anses Conurbano II, Paula Lambertinihighlighted that “the increase for this quarter will be the highest since this rule is implemented.”
“If that formula had been in force, the rise would not have been 12.28% but 9.92%. That is, 2.4% less”he underlined.
Along the same lines, he indicated that, as it is a formula “tied to the growth of the economy and the improvement in workers’ wages, it suggests that next quarter, if the pace of the economy continues to grow, the percentage increase will be higher”.
In accordance with the regulations of the index approved by Law No. 27,609, the increase is determined by a mobility formula that combines the variation in wages according to the Taxable Remuneration of Stable Workers prepared by Social Security (Ripte) and the Salary Index of the Indec, taking from both the largest, and the pension collection.
The previous formula, on the other hand, Fraschina explained, “was governed 70% by inflation and 30% by wages.”
“It is precisely what the International Monetary Fund wants: that retirement be adjusted for inflation,” said the Anses secretary and recalled that, within the framework of the 2018 agreement, “in the IMF reports there was a questioning of the previous formula (which was replaced in December 2017).”
In contrast, according to Fraschina, in the new agreement, “there is no request for regressive reform of the Argentine pension system and that is good news.”
Source: Ambito
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