Due to the increase in the minimum wage, more than 1 million retirees will receive an automatic adjustment in October and November

Due to the increase in the minimum, living and mobile wage (SMVM), 1,200,000 retirees and retirees earning the minimum wage ($ 43,353) from September and pensioners with 30 or more years of effective contributions, without resorting to the moratorium, will have an increase of $ 1,378 in October and $ 4,125 in November. These amounts are added to the $ 7,000 bonus they will receive in those months.

These additions are explained because article 5 of law 27.426, approved in December 2017, specifies that pensioners and pensioners “With 30 years or more of service with actual contributions” They will charge a “monetary supplement up to a pension equivalent to eighty-two percent (82%) of the value of the living and mobile minimum wage.”

In September, the SMVM rises to $ 51,200. 82% ($ 41,984) is less than the minimum credit ($ 43,353). On the other hand, as of October, the SMVM amounts to $ 54,550 and 82% is $ 44,731, which is $ 1,378 more than the minimum pension of 43,353. And in November, the SMVM comes in at $ 57,900 and 82% is $ 47,478, which is $ 4,125 more than the minimum credit.

Therefore, these differences would cease to be paid in December because, due to pension mobility, an increase in assets corresponds to that month for all pensioners and pensioners. And the minimum pension would rise and that difference or more would disappear, unless the minimum wage goes up again and 82% of the SMVM exceeds the new minimum wage it will adjust in December, January and February 2023.

Since this transitional bonus was approved, it was paid in January-May and from July to November 2018; in August and October-November 2019, October and November 2021 and August 2022.

Retirees and senior retirees with higher wealth do not receive this supplement and neither do the up to $ 7,000 bonus which covers those who charge up to 2 minimum wages.

It is the retiree and retiree sector that has had the largest decline in the face of inflation because, like the rest, it had a loss of 19.5% during Mauricio Macri’s government. Then in 2020 he received bids below the minimum, and in 2021 and 2022 he did not receive any of the bonuses that were given to pensioners and pensions with lower assets.

The increase in the minimum wage also impcta in “Promote Job” programs. (just over a million people) earning half the minimum wage e “Accompany” (35,000 people), especially women and people from the LBGTI + group in situations of gender-based violence, who earn a minimum wage for 6 consecutive months.

It also affects workers enrolled on a monthly or daily basis earning less than the minimum monthly or hourly wage. And indirectly as a reference on unregistered or informal workers

YN