Bonuses and fixed sums: what salaries, retirements and plans charge them

2023-08-28 10:36:21

The Minister of Economy and presidential candidate, Sergio Massa, announced this Sunday the measures that are part of the Program to Strengthen Economic Activity and Income. They include lump sums and bonuses for salaried workers and retirees.

“The central objective is that each of the sectors of the economy has in some way the support of the State,” said Massa.

He announced that “each of the public bodies and ministries throughout this week will tell in detail” what these “benefit, credit or tax reduction programs” consist of.

Salaries and lump sums

Formal workers, that is, registered workers, with net (out-of-pocket) salaries of up to $400,000 will receive a fixed amount of $60,000. It will be paid in two installments of $30,000 during September and October.

An important clarification: the fixed sum is on account of future agreements, that is, it will be absorbed in the next parities.

The measure also reaches national public sector workers under the same conditions.

Massa “invited” provinces and municipalities to make a decision in the same direction to accompany an improvement in the income of workers. So far, neither in Neuquén nor in Río Negro have the governments clarified what position they will take in this regard.

The minister indicated that micro-enterprises will be able to discount 100% of what this payment demands from the payment of employer contributions, while SMEs will be able to do so at 50%.

Massa estimated that this measure favors 5.5 million workers in the private sector.

He also announced a line of Loans for workers with a term of up to 48 months, with a three-month grace period and with an interest rate half that charged in the financial market.

He explained that it will be possible to access lines of credit of up to $400,000 in 24, 36 or 48 installments and the funds will be deposited to the bank credit card within 5 business days.”

Retirees and pensioners: bonuses and credits

Retirees and pensioners of the Nation will receive a reinforcement of $37,000 in September, October and November.

It will raise the total amount they will receive from next month to $124,000.

Massa clarified that they decided to “modify the reinforcement that we were going to give them” and that it reaches almost 7 million people.

In addition, he stressed that in the case of purchases made with a card, “we are going to refund up to $18,000 of VAT refund on the card itself for the purchases they make.”

He also recalled that “they have a credit program at their disposal for more than $400,000 million that allows them to access loans of up to $400,000 at a quarter of the rate they pay at the bank for 24, 36, and 48 months.”

Domestic workers

Massa also announced a bonus of 25 thousand pesos for domestic employees.

It will be a one-time booster of $25,000, in two monthly installments, proportional to the hours worked.

For employers with income of up to 2 million pesos per month, the State will reimburse 50% of this reinforcement.

“More than 424,000 people will benefit,” said the official.

Enhance Work

The head of the Palacio de Hacienda also announced reinforcements for those who receive the Enhance Work plan.

The beneficiaries will receive a reinforcement of $20,000 to be paid in two installments of $10,000 in September and October, together with the assets that will be updated following absorbing the minimum wage update.

Increase and reinforcement for the Food Card

The beneficiaries of the Alimentar Card and an additional increase of 30%.

The person in charge of the economic portfolio explained that the Food Card will be reinforced with an additional increase in two monthly installments, with the following detail:

For families with one child: $10,000.
For families with two children: $17,000.
For families with three children: $23,000.
The head of the Palacio de Hacienda emphasized that “in addition, once the reinforcement is over, the food card will increase by 30%.”

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