Registered wages rose 7.8% in March and beat inflation

Due to increasing parity and staff “not in agreement”, in March, on average, formal or registered salarywith Social Security contributions, they rose 7.8%, beating the 6.7% recorded by inflation.

In January, formal wages rose 4.6%: that is, 0.7 points above inflation of 3.9% for that month. In February, 4.7% was tied to inflation. And in March 1.1 points above rising prices.

Thus, in three months, formal wages accumulated an increase of 18.1% compared to quarterly inflation of 16.1%.

salary data they are official and correspond to RIPTE (Taxable Remuneration of Stable Workers), whose monthly series will begin in July 1994.

RIPTE is calculated based on average salary subject to contributions in the Argentine Integrated Social Security System (SIPA) received by workers under a dependency relationship and continued to be declared over the past 13 months.

In March, the total salary (no discounts) with contributions they averaged $ 121,220.45according to official figures based on the amounts declared by Social Security companies.

A year ago, it was $ 75,809.13. This represents an increase of 59.9% more than 55.1% increase in the consumer price index.

Since this is the total salary, to determine out -of -pocket income, $ 121,220.45 will need to be deducted. discounts for retirement and workers’ health contributions (17%) and eventually add the family salary per child.

In recent years (2018/2019), RIPTE has fallen 18% against inflation and in 2020/2021 with increases and decreases it was accompanied by inflation but there was no recovery in the relationship by the end of 2019.

In total, workers in a dependency relationship with ANSeS contributions add up to approximately 7.5 million, approximately 75% of the nearly 10 million wages in a registered dependency relationship. The rest contributes to provincial Savings Banks or other schemes.

This 10 million, in turn, represents half of all formal and informal employment in the country (monotributists, self-employed, salaried workers with no retirement discount and informal self-employed workers).

As a salary index, RIPTE is used every three months (March, June, September, December) to set half the mobility percentage of retirement, pensions and other social benefits and in calculating compensation for accidents in work.

It is also used to update once a year the Minimum Non-Taxable Income Tax and to update once a year the “floor” salary, initially $ 150,000 and now $ 225,937, to be exempt from payment of this tax.

It is also used to update the Family Income ceiling once a year to collect Family Allowances. And every three months the monthly fee is paid by employers to the Illness Fund for COVID insurance.