The Anses made official, through a resolution published today Wednesday in the Official Gazette, that the pension mobility formula yielded for March an index of 27.18%. The new amounts of the minimum and maximum pensions – which are usually stated in a different resolution – have not yet been specified. nor was anything published regarding the payment of a reinforcement.
Speaking to LN+ on Monday night, Economy Minister Luis Caputo said that the increase for retirees under the mobility law would be around 30%, adding that a bonus will continue to be paid, but did not give data on its amount or on what universe of retirees will be reached. When consulted by LA NACION, sources from the portfolio indicated that this issue has not yet been defined.
The result of the formula – which determines an increase well below inflation and which, therefore, deepens the deterioration of income-, coincides with what was anticipated by LA NACION on the 8th of this month.
With the application of 27.18%, the minimum gross earnings will go from $105.713 a $134.446 and the maximum gross assets, of $711.346 a $904.690. As established by law, all assets of the general Anses system rise by the same percentage, regardless of its amount. Thus, whoever has an income of, for example, $200,000 this month, will receive $254,360 in March.
The resolution that specifies the result of the updates formula is numbered 38 and is signed by Osvaldo Giordano, who continues to head the Anses, despite the fact that he resigned last week, because the Government has not yet established who will be his replacement.
The expectation is now placed on the recomposition that there will be for retirements and pensions through bonuses. In December, in January and in the current month, those who have the minimum retirement received an extra $55,000, which represented no less than 34% of the total income, of $160,713. And those who earn up to $160,713 received a boost of the amount necessary to complete that figure; For example, with a monthly salary of $140,000, $20,713 was received.
If no reinforcement were available for March, the minimum retirees, who this month receive $157,542 in hand, They would collect, in net terms, only $130,413, that is, $27,129 less.
The payment of bonuses It is applied continuously from September 2022. It is a policy that implied an implicit recognition, by the previous management, of the insufficiency of the mobility formula -which governs from 2021 and which was approved by Congress at the proposal of the government of Alberto Fernández and Cristina Kirchner – to meet the objective of maintaining the purchasing power of income. The calculation takes into account the quarterly variation in salaries (according to one of two official indices) and the interannual evolution, recorded in a quarter, of the collection of taxes that derive all or part of their collection from Anses, measured by profit. . For the March index, what happened in the period of October to December 2023.
Beyond the weakness of the strategy (bonuses are not incorporated into assets and can therefore be removed at any time), The reinforcements produced distortions in the system and a flattening of the pyramid, to the detriment of those who contributed the most to the retirement system. Only in 2023 did assets experience drops in their purchasing power of between 14.2% and 37.4%, and the differences are explained by unequal treatment, since, in the face of high inflation, the bonuses were granted to some, and not to all And in the 12-month period ending last January, The falls in the real value of income climbed even further, reaching a range of between 24.5% and 44.3%. In this second month of the year, a loss in purchasing capacity continues to accumulate.
82% guarantee
The Government also made official today, by publishing in the Official Gazette resolution 4 of the Ministry of Labor, the increase in the minimum, vital and mobile wage announced yesterday. This reference value will be $180,000 this month and in March it will be $202,800.
Thus, due to a guarantee established by law, in force since 2018, and as LA NACION reported yesterday, retirees who obtained their benefit having effectively complied with the amount of contributions required by the system (that is, who did not resort to a moratorium) , they will charge a supplement the amount necessary for the gross income (not counting bonuses) to be $147,600 this month and $166,296 in March. These two amounts are equivalent to 82% of the minimum, vital and mobile salary in force for each period, respectively.
In the case of those who have the minimum income (the group that meets the contribution requirement is a very minority), that additional amount will be this month of $41.887, since that is the difference between $147,600 and $105,713. Strictly speaking, as the assets are already being paid, Anses made the settlement considering the SMVM that was in force; That is why it has already paid, in those cases, an additional $22,207, and Now I would have to pay the difference. In March, compliance with the 82% legal clause will imply an extra $31.850, which is equivalent to the gap between $166,296 and $134,446 (the first amount is 82% of the next month’s SMVM).
For those who earn slightly more than the minimum, the amounts are what is necessary for the gross earnings to reach the sums of $147,600 (February) and $166,296 (March). For example, With an asset of $135,000 this month, the additional for the 82% guarantee will be $12,600.
Charges for dependent children
The mobility index is also used for updating the value of the Child Allowance (AUH), paid by informal and unemployed workers, and family salary payments that reach a group of formal employees and monotributistas. In the case of these latter benefits, the payments per minor dependent child will be, depending on the family income, $26,277, $17,721, $10,716 or $5526.
The amount of the AUH, which until December had a value equivalent to the highest amount collected per child in the registered employment scheme, It doubled last January by decision of the Government, with which the amount went to $41,322 (although, due to the collection methodology, 80% is received monthly, that is, $33,057, and the remaining 20% at a single time of the year, upon presentation of proof of schooling and children’s health care). If mobility is applied to the duplicate amount, the allocation will be $52.553 (and the monthly charge will be, as explained, $42,042).
Pension mobility also impacts the amounts of pensions. pension contributions paid by the self-employed, and in the minimum and maximum salaries to calculate the contributions that are intended to finance social security benefits.
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