Increase in Pension Payments for Retirees

The Argentine government announced an increase in pension payments, which will rise by 145.6% this year, benefiting retirees with a bonus for those at the minimum level.


Increase in Pension Payments for Retirees

Retirees will have a nominal increase of 145.6% this year, excluding the additional bonus, which exceeds inflation. Those receiving the minimum pension will also receive a bonus of 70,000 pesos. On the other hand, pensions included in the general ANSES system will have an increase of 2.69% in December, according to the IPC variation recorded in October.

The gross amounts of the pensions will be 251,811 and 1,649,831 pesos, not considering the contribution to PAMI, which leaves the net amounts at 251,811 and 1,649,831 pesos, respectively. Meanwhile, for those who receive the minimum pension, the nominal increase will be 105.1% if the 70,000 pesos bonus is added starting in March.

"The condition to receive the bonus is that the person receives a benefit equal to or less than the minimum pension. If one receives both a pension and a retirement, the bonus will not be granted. Currently, around 50% of retirees and pensioners, about three million people, receive this bonus," the agency reported.

With this modality, the minimum pension will increase from 252,798.48 to 259,599 pesos, and the maximum from 1,701,094.47 to 1,746,854 pesos.