Will the minimum pension beat inflation in 2022?

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In the National Congress, President Alberto Fernández said so in 2022 the minimum pension increased by 107%and thus beat inflation for the year. Why is the presidential statement incorrect?

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Between December 2022 and December 2021, pension and other social benefits they had a 72.5% increase, well below 94.8% inflation. This represents a decline of about 22 points or 11.45% in one year, which added to the losses of the last 5 years.

Once again the mobility formula has lost out to inflation.

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The minimum retirement – ​​from December 2021 to December 2022- went from $29,061 to $50,124 and maximum credit from $195,557 to $337,289.

For that heavy loss, at the end of the year a monthly bonus or reinforcement was added to the lowest salaries for three months – in December, January and February 2023 – $10,000 for those who received up to the minimum amount and a decreasing value for those who received up to 2 minimum amounts ($107,249).

Above the 2 minimum wages there was no bonus, so they had no compensation for the higher inflation, as happened in 2020, 2021 and 2022, on top of which the smaller increase they received in March 2020 with the increase of the decree and the losses of 2018/2019 during the previous government. .

AS, With this reinforcement of $10,000, the total minimum income (to have minimum + bonus) it went to $60,124 in December, January and February 2023.

To reach the 107% increase, the president compared the $60,124 with the minimum retirement for December 2021, which was $29,062. But he omitted that in December of last year, ANSeS paid an $8,000 bonus, according to decree 855/2021.

Consequently, to be homogeneous, theThe $60,124 compares to $37,062 in December 2021 ($29,062 + $8,000), which gives an increase of 62.2%, well below 94.8% inflation.

In January and February the year-over-year increase was 107%, because there were no bonds in 2022 in those same months and the year-over-year inflation in February 2023 will certainly exceed 100%.

Same as previous titlesuntil now this reinforcement was not applied every month – which leads to heavy monthly losses – and was not included in the monthly credit, which depresses mobility increases that are applied on an inferior basis. Furthermore, they are not taken into consideration for the calculation of the half Christmas bonus.

Mobility affects around 16 million people (7.3 million retired people) and the mothers and/or fathers of 8.6 million children and adolescents.

It does not include pensioners and pensioners of special schemes, such as teachers, university professors, Luz y Fuerza, Judiciary, who have their own indices.


Source: Clarin

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