They confirmed the payment of a bonus of 70 thousand pesos for pensioners: how much they will receive in October


Confirmed bonus payment in October (Bloomberg)

The national government confirmed the continuity $70,000 bonus for retirees in October. This surcharge will be combined with the already announced 4.17 percent increase, a number that is consistent with the retirement formula that updates assets in line with Consumer Price Index (CPI).

Through publication decree 861/2024 The Executive in the Official Gazette guaranteed the payment of an extraordinary bonus for the pension system, as in previous months, and it was crucial to partially compensate for the loss of purchasing power during inflation. This measure will benefit nearly 3 million pensioners and retirees who receive the lowest salaries.

In addition, according to the regulations:

  • persons who are entitled to pension contribution benefits according to ANSES, granted according to Act No. 24 241, its amendments and additions, previous general national regimes and their amendments, canceled special regimes or former funds or provincial and municipal social institutes whose regimes were transferred to a nation whose mobility is governed by Article 32 of Law No. 24,241 and the benefits of the regime established by Decree No. 160/05;
  • recipients of the universal pension for the elderly established by Article 13 of Act No. 27,260 and its amendments;
  • beneficiaries of non-contributory pensions for old-age, invalids, mothers of 7 or more children and other non-contributory and ex-gratia pensions for which ANSES is responsible for payment.

The decree, in turn, provides for a payment to holders who, for the sum of their current assets, receive an amount less than or equal to the guaranteed minimum pension.

“It is established that for those holders who, in the sum of all their current benefits, receive an amount higher than the minimum guaranteed pension established by Article 125 of Act No. 24,241, the maximum amount of the extraordinary pension bonus will be equal to the amount necessary to reach the limit resulting from the sum of the said minimum assets increased by the maximum amount of the extraordinary pension bonus specified in Article 1 of these Terms and Conditions,” the regulations state.

With an increase of 4.17%. minimum pension will reach $244,320.56. As in previous months, those who receive the minimum wage will also receive bonus of $70,000, bringing the total income to $314,320.56. This amount represents relief for the most vulnerable groups of the retired population, although it does not fully compensate for the erosion of purchasing power caused by inflation.

The $70,000 extra bonus will continue to be paid in full to those receiving the minimum pension
The $70,000 extra bonus will continue to be paid in full to those receiving the minimum pension

On the other hand, Universal pension for the elderly (PUAM)which equals 80% of minimum retirement, will be $195,456.45 plus bonus after the increase, bringing the total to $265,456.45. The Non-contributory pensions (PNC) for disability and old age will also be adjusted, remaining at $195,342.56 ($125,342.56 with increase plus bonus).

For those who are paid more than the minimum, the update will be only for the mobility percentage, without the bonus. The maximum pensiontherefore, it will increase to $1,644,160.70, an increase adjusted for inflation but without the boost to those receiving the lowest amounts.

Details below:

  • Minimum pension: $244,320.56 + $70,000 bonus = $314,320.56
  • Maximum pension: $1,644,160.70 (without bonus)
  • Universal pension for the elderly (PUAM): $195,456.45 + $70,000 bonus = $265,456.45
  • Non-contributory pensions (PNC): $195,342.56 + $70,000 bonus = $265,342.56

The $70,000 extra bonus will continue to be paid in full to those receiving the minimum pension. This amount remained frozen for five months, representing a significant loss of her purchasing power given the lead-up to inflation. According to recent calculations, to maintain the purchasing power it had in March of this year, the bond should be $96,548.72.

The bonus will also be distributed to those retirees and pensioners whose assets are between $244,320.56 and $314,320.56. For example, a retiree who withdraws $280,000 in October will receive a bonus of $34,320.56, bringing his total assets to the $314,320.56 cap. This modality seeks to provide reinforcement to those who, even if they receive an income somewhat higher than the minimum, are still far from covering basic needs in the context of high inflation.

In April 2024, national government introduced a new retirement formula through the Decree of Necessity and Urgency (DNU), replacing the previous formula that combined wage growth and pension withdrawals. With the new system, pension benefits are adjusted monthly based on changes in the CPI, i.e. inflation.

The change also included an additional increase of 12.5% ​​in April to partially compensate for high inflation in January, which stood at 20.6%. The new formula allowed assets to be updated more frequently, but at the same time caused a sharp decline in the real purchasing power of pensioners, especially those receiving the bonus, as the amount remained fixed while prices continued to fall. rise.

According to official statistics, The minimum retirement with bonus for October 2024 shows a real decrease of 14.65% compared to the same month of the previous year and 6.43% compared to December 2023, the last month of the previous management.





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