For the new line $450,000 million will be allocated, this amount may be increased later by the Executive Branch. This is a historic announcement, since It is the first time that active workers benefit from the possibility of accessing ANSES credits and it is not limited to only retirees and pensioners.
The mentioned line provides up to 48 months cancellation period of the credits and a subsidized interest rate at half of what is paid in the market, as part of the package of economic measures announced by the Minister of Economy, Sergio Massa.
ANSES credits: what the decree indicates
This is how it was established in the Decree 463/2023published this Thursday in the Official Gazette, which establishes the conditions of the line implemented by ANSES with a Subsidized Annual Nominal Rate (TNA) of 50%with three months of grace and that can be returned in 24, 36 or 48 installments.
As provided in the initial version of the credit linethe maximum amount to be granted will be $400,000although, in all cases, the fee-income ratio of the credit granted may not exceed the 20% of monthly salary from whom I take the loan.
According to the rule published this Thursday, the measure will contribute to the “virtuous circle of the economy” boosting consumption and “attenuate the negative evolution of economic and social variables”, alleviating “the current challenging economic context “which significantly affects” the workers.
“It is a new line for formal workers consumer orientedbut which, in addition, has the objective of get Argentine families out of debt with credit cards,” explained the executive director of the National Social Security Administration (Anses), Fernanda Ravertalast week.
Changes in the purpose of ANSES funds
The loans They will be financed from the funds held by ANSES in the Guarantee and Sustainability Fund (FGS). That is why today’s decree modifies an article of Law 24,241 of the Argentine Integrated Pension System (SIPA) regarding the investments of the Sustainability Guarantee Fund (FGS).
Said law, with its modifications, already prior to the granting of financing to the beneficiaries of the pension systemand allowed allocating for this purpose up to 20% of the fund’s total assets.
Meanwhile, the decree This Thursday also adds as beneficiaries of said financing all contributors of the pension system, and allows up to 5% of the total assets of the FGS to be allocated for this purpose.
Requirements to access credits
As a requirement, Workers who want to access credit they must:
- be in a dependency relationship,
- not be reached by Income Tax,
- reside permanently in the country and
- own a seniority of not less than six continuous months under the same employer.
- They will not be able to exceed the retirement age by the end date of the loan payment,
- They must not be beneficiaries of a current ANSES line of credit,
- Nor do they fall within the category “situation 2” in the registry of debtors of the Central Bank (BCRA).
The decree clarifies that Applicants will not be able to access the exchange market to buy foreign currency until the cancellation of the credit, which will be complemented by explanatory regulations from other organizations such as the Central Bank.
How ANSES credits are paid and what happens in case of default
The loans will be credited to the credit card of the worker in the account where he receives his salary.
On the other hand, The three months of grace are counted based on the day the worker’s remuneration is collected. and, in the event that the bank account is changed, the ANSES must be informed of the details of the new account where the debits of the pending fees will be made.
In the event of default, the pension organization is authorized to debit any amount owed from the bank accounts held by the policyholder.
The amounts used from the FGS in the financing of this line of credit are guaranteed, in the event of non-payment, by the Argentine Guarantee Fund (FOGAR) up to 100% of the loan capital and its interest, with a maximum limit payable of up to 10% of the outstanding balance of the mobilized credits.
In addition to this new line, is still valid Anses Credits program for retirees and pensionerswith a subsidized rate of 29% and an amount, also, of up to $400,000.
Source: Ambito
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