Retirements: inflation and devaluation grind all assets

2023-05-18 17:54:00

According to the latest indices published by the Ministry of Economy of the Nation, at the expense of the surveys carried out by INDEC, they realize that things do not work in favor of income, mainly of the passive pension assets; and here graphically I will establish the most important lines:

Retirees and pensioners: how much do I earn in June with increase, reinforcement and bonus

  • Basic food basket (INDEC): 40.1% (until April 2023)
  • Total basic basket (INDEC): 33.3% (until April 2023)
  • Inflation (INDEC): 31.9% (until April 2023)
  • Pension basket (Source Ombudsman CABA): $ 202,064 (APRIL 2023)
  • Common retirement increases (ANSES): 37.96% (AUGUST 2023)
  • Increase in teacher retirements (ANSES): 46.02 (AUGUST 2023)
  • Increases in university teaching retirements (ANSES): 44.31 (AUGUST 2023)
  • Official devaluation of the currency $/U$S Banco Nación approx: 30% (as of May 2023)
  • Poverty index per person (Minimum BT basket amount) $.65812

Following the guidelines of the International Monetary Fund, clearly despite nominal increases from income, they do not end up becoming effective as such when the rest of the values ​​run at a different pace, and therefore affect the purchasing power of the consumer.

Do they reach the increases of the retirees foreseen until August?

Following the increases expected for the Minimum Vital and Mobile Wage, and that the application of 82% of this for minimum benefits exceeds $70,938, retirements spend $72,149.34 for the minimum wage. Besides that, in the case of minimum benefits, there are bonuses.

The rest of the pension beneficiaries with the increase of 37.96% until August 2023 will lose compared to all other parameters and pension assets narrow their extremes every day between the minimum of $ 72.149 (82% del SMVM) more bonus and the maximum $477,347 (less than 6 times the minimum credit with the bonuses). And they are close to a minimum historical difference.

Retired: ANSES announced how much the second increase will be due to teacher mobility

TheThe minimum benefits cover a universe of approximately 80% of pension beneficiaries -data on older people in INDEC still need to be updated- and when adding the bonds, an attempt is made to alleviate the mismatch between pension assets and the other price indicesos, in a general economy where any correction in the price of products already has too much influence on the group of those over 60 years of age.

Beyond social security, as a contribution and containment to old age by the state, fFunded mainly in contribution funds and contributions from active registered personnel, it is necessary to have an additional system of individual voluntary savings for future social security, especially for a social sector that has been harmed such as the self-employed or monotributistas, whatever the contribution they make today, they can only aspire in the future to a basic benefit minimum.

* Lawyer, specialist in pension issues. INSTAGRAM: @arielsamana

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