The new unemployment fund makes dismissal cheaper, weakens compensation and potentially strengthens the economic power of bureaucratic unions. The government calls it 'modernization'; employers, 'predictability'; the IMF, 'institutional maturity'. Not the employer, not the union, not the state. Conclusion: The unemployment fund is not neutral: it redefines the relationship between labor and capital. But for workers, a legalized scam is being prepared: an unemployment fund for rights and a source of profit for bureaucrats and employers. In reality, it is a transfer of workers' money to the financial system, with the approval of a new CGT triumvirate that seems more interested in managing funds than defending rights. According to the National Securities Commission (CNV), this system will allow replacing traditional compensation with monthly contributions to Common Investment Funds (FCI) or Financial Trusts (FF). That is, a 'voluntariness' decided from above, where workers neither vote nor choose. The bureaucracy's sweetener: The government found the formula: it promises modernity to business and offers a new cash box to union bureaucrats, as the funds can be managed by the unions if agreed upon in the Collective Bargaining Agreement. Where there was once an individual right guaranteed by law, there will now be a collective account that escapes the workers' control. That is why the answer cannot be to delegate or trust the good will of the CGT and union leaderships. The government presents the reform as 'labor modernization', but behind it hides a scheme for the privatization of the right to compensation and a new power box for union bureaucracy. The new unemployment fund, regulated by Decree 847/2024 within the framework of the Bases Law, is sold as an advance in 'modernization' and 'predictability'. It will be 'optional', but only if agreed upon by unions and business chambers within collective labor agreements. The CGT — as dialogical as it is functional to power — has already begun to analyze its incorporation into the agreements. The attraction is obvious: managing multimillion-dollar funds with little public control, just like it happens with social works or training trusts. In plain terms: the worker's money enters the circuit of speculation. And where there is a cash box without control, there is business: dubious investments, crossed contracts, political returns and undercover corruption under the discourse of 'professional management'. A political leader like Javier Milei who arrives in government with an 'anti-caste' discourse does not stop giving business opportunities to the same caste, in this case the business and union caste, against the workers. Dismissal is made cheaper, control is privatized. The new system turns compensation — a historic achievement against arbitrary dismissal — into a financial account. The employer stops assuming an unforeseen cost and replaces it with a predictable expense. The CNV was clear: these funds 'will channel internal savings towards investment instruments'. If the returns are poor or the investments fail, the one who loses is the dismissed worker. The power of the leaderships is reinforced.
