The Government’s draft new megaproject raises questions relating to retirements from the general scheme grant a 13.2% increase in April -which was the February inflation- plus another 10% as compensation for the worsening of these months: in total 24.52%. And from now on, mobility it is adjusted for inflation from 2 months ago. In May, that is, the adjustment would be equivalent to March inflation.
If we consider only January and February, inflation according to the INDEC was 36.6%. In other words, the capital adjustment would begin with a loss of 10 points. For Nadin Argañaraz, of the IARAF (Argentine Institute of Fisal Analysis), the loss would be 17 points.
The project it is not included in the bonus increaseS. According to pension lawyer Marcelo Brasburg, “all the decrees on bonuses say that they are not counted for any reason, they are considered non-remunerative or “reinforcements” without regulation”. Even for the lawyer Adrián Troccoli the bonuses are not part of his assets.
This means that the value and scope of bonuses will remain discretionary. And it is not expected to be incorporated into current assets, so that it covers the bonus and the entire income is considered for mobility.
In this way, the connection between the formula of the previous Government, which would be in force until the end of March, and the one that would govern from 1 April would contemplate, in the official version, just under the inflation of January 2024. , which according to the INDEC was 20.6%. And going forward there would be no recovery for the loss of the last few years. Nor does the recovery improve real wages or the economy.
The official project concerns pensions and pensions of the General Scheme. I intend, It does not include, among others, retired teachers, university professors, diplomats, Luz y Fuerza and the judiciary.
With the 27.18% increase and bonus up to $70,000, Retirements and minimum wage pensions are collecting a total of $204,445 gross. The total comes to $134,445 plus $70,000.
Then in April the 10% would be applied and in February the CPI, with the unknown whether these increases will be applied to $134,445 or $204,445 gross.
Retirees and retirees with salaries above $204,445 will receive the 27.18% increase before the end of the month and will not receive any bonuses.
According to Nadin Argañaraz, due to the loss that pensioners had compared to the inflation of December and January and which the March increase did not cover, the Government should grant a 25% increase in April and add the February inflation (13.2%). that is, an increase of 41.5%, including the bonus.
If this happened and pensions were adjusted for inflation with a delay of two months – as foreseen by the bill -, Argañaraz says that those who earn the minimum, including the bonus, would end the year with a real annual income practically equal to the same one. until the year 2023.
In this calculation Argañaraz includes the bonus. Otherwise the minimum asset would suffer a heavy loss. And the pensioner without a bonus would end the year with a loss of 16% compared to 2023. This means that many thousands of pensioners would find themselves with the seventh consecutive year of loss of purchasing power.
The project does not change the mobility of wages taken as the basis for calculating the initial salary. According to Studio Paz Zurita, “mobility through the IPC does not recover what has been lost, which is lost forever, unless the pensioner submits a legal request. And until salaries are updated by the CPI, the flattening of pensions will continue and new pensioners will continue to lose purchasing power compared to their initial salary”.
This loss of starting salary is due to the fact that upon retirement the starting salary is determined based on the average salary of the last 120 updated months. And this update is applied based on a coefficient that is calculated based on the salary evolution of registered workers (RIPTE – which are decreasing – with a lag compared to inflation.
Source: Clarin
