The $70,000 bonus that retirees received will stop being paid in October 2024. Find out how this decision will impact pensions.
The National Social Security Administration (ANSES) The Argentine Center for Political Economy (CEPA) announced that, starting in October 2024, the additional bonus received by retirees and pensioners will end. This additional bonus, which was a key aid for the elderly, will disappear as part of the measures adopted within the framework of the 2025 budget. The Center for Political Economy of Argentina (CEPA) confirmed that the allocation for the bonus “practically disappears,” and this will directly affect those who depend on this financial aid.
Furthermore, it is expected that the automatic increases in Family Allowances will also be modified, being subject to the decision of the Executive Branch. On the other hand, Pensions will continue to be adjusted according to the variation of the Consumer Price Index (CPI)which ensures a minimal increase in October, although insufficient to recover the values of previous years.
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Amount of pensions in October
Starting in October 2024, ANSES pensions and retirements will receive an increase of 4.17%with the following updated amounts for the different beneficiaries:
- Minimum retirement pension: $244,320.56
- Maximum retirement pension: $1,644,046.07
- Non-contributory disability pension: $171,024.31
- Universal Pension for the Elderly (PUAM): $195,456.45
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What’s happening with the $70,000 ANSES bonus for retirees?
The booster bonus of $70,000 that retirees had been receiving in recent months as an economic relief will stop being paid as of October 2024. This measure, announced within the framework of the 2025 Budget project, is part of the public spending reduction policy implemented by the Governmentwhich aims to achieve the “zero deficit”.
He Center for Political Economy of Argentina (CEPA) He warned of the almost total disappearance of the budget allocation for the bonus, which will directly affect thousands of retirees and pensioners who depend on this money to cover basic needs. Until now, the reinforcement meant relief from inflation, especially for those with minimum income.
Although the booster bonus will be removed, still There is a possibility that the Government will implement some compensatory measure to mitigate the impact on the most vulnerable sectors. However, no official details were given on what kind of aid, if any, would replace this benefit. Analysts and experts warn that without an adequate replacement, the economic situation of many retirees could deteriorate even further, as the increase planned for October 2019 4.17% will be insufficient to cover the price increases affecting essential goods and services.
Source: Ambito
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