The Government has made official the payment of a $ 12,000 bonus to retirees and retirees

By Decree 215/2022 published this Wednesday in the Official Gazette, the Government made official this Wednesday the payment of a $ 12,000 bonus for retirees and retirees in May as part of measures put in place to mitigate the effects of intensifying inflation, which climbed to 6.7% in March, the highest number in the past 20 years.

Benefit coverage announced in recent days 6.1 million retirees and pensioners from a total of 8.4 million for the entire system, and includes the non-contributory pension and the PUAM, which receive 70 and 80% of the minimum wage, respectively.

Regulations established that $ 12,000 would be collected in May by recipients of up to 2 minimum wages or $ 65,260. Meanwhile, those earning between $ 65,260 and 77,260 will receive a bonus of up to $ 77,260. For example, if you have a credit of $ 70,000, you will receive a bonus of $ 7,260.

The new bonus fits one of up to $ 6,000 received by 4.6 million retirees and retirees who receive up to $ 38,630.

That is, the amount of the new bonus is larger, double, it reaches 1.5 million more retirees and retirees and, “in this way, it is equivalent to the bonus given to workers of $ 18,000”, as reported of the Government. .

On the other hand, due to the high level of inflation, it has been reduced that another bonus should be given in May, as the next increase according to the mobility formula is in June. Otherwise, in May these retirees and pensioners will receive less than in April.

As indicated in the decree, the exceptional subsidy provided “will not be eligible for the discount whatever or computable for any other concept ”.

Meanwhile, those who do not receive the bonus – about 2.3 million retirees and pensioners – do not receive any compensation and absorb the complete loss due to inflation with a decrease in the real terms of their assets.

Those who will not be compensated for the mobility formula, in March, retirees and pensioners received a quarterly increase of 12.28% when average January-March inflation was 16.1% and food prices rose 20.9%.

GRB