In just 3 months (December, January and February) pensions and pensions will worsen by almost 36%, above the worsening recorded in the last 6 years. It’s because the old formula is still in effect. The Government’s proposal is that only in April, if the proposal to modify the pension article of the megaproject is approved, will a new formula be applied.
This Wednesday at dawn it was instead confirmed – according to decree 81/2024 published today in the Official Journal – that minimum wage retirees will receive the bonus of up to $55,000 in February which they received in January and December. And the rest will also earn the same in February as in January and December.
Inflation in December of 25.5% and projection of price increases in January of 25% and another 20% in February, The cumulative increase in the period December-January-February would have been 88.3% and in the month of December the increase in wages would have been 20.87%. As a result, pensions and pensions will have a worsening of almost 36% with the aggravating circumstance that the lowest salaries have stopped receiving VAT refunds up to $18,800.
In March pensioners and pensioners will receive the increase according to the current mobility formula. It is estimated that it could be around 30% against an inflation that in the first quarter of the year could be around 75/80%.
This sharp deterioration adds to that of recent years.
At the values of December 2023, according to IARAF (Argentine Institute of Fiscal Analysis)” given that the average monthly inflation of lFor the last 6 years it has been 5%, real pensions have recorded losses throughout the period. If the percentages of lost assets between 2018 and 2023 are added, it turns out that without bonuses they would be equivalent to 13.7 minimum assets in 2017 (114.2% per year for 12 months) and with bonuses equal to 9.4 minimum assets in 2017″.
In 2023, with the inflationary leap in December, pensioners and pensioners had a loss of between 14.2% – in the case of those who have received the minimum wage bonus- and 32.3% for medium and high salaries.
In this way, between September 2017 and December 2023, The average pension deterioration is 40%, with a drop in minimum wages by 30% and average and upper wages by 55%.
The official numbers indicate that, in December 2022the minimum asset was $50,124 plus a $10,000 bonus (total $60,124) and in December they raised a minimum of $105,713, plus $55,000 ($160,713). It represents an increase of 167.3%. Meanwhile, annual inflation was 211.4%. Represents a loss of 14.2%
Those who did not collect the bonuses during 2023 had an increase of 110.9% compared to an inflation of 211.4%. It represents a decline of 32.3% in just 12 months. If we add January inflation, the drop could be around 40% or more.
SN
Source: Clarin
