This Friday it was published in the Official Gazette the increase in June retirements and pensions that will be 8.83%, according to April inflation data. Meanwhile, the Government announced that retirees with lower incomes will receive a $70,000 bonus (again the same sum despite inflation that deteriorates its purchasing power). Thus, those who only earn the minimum salary, which in June will be $206,931, will have a total income of $276,931. It is an amount that represents an increase of 6.4% in relation to the income of $260,141 for the current month. Milei and Caputo continue to adjust retirements and pensions.
According to the journalist Ismael Bermúdez published in Clarín, if the 8.83% increase in June is considered, the PUMA goes from $152,113.28 to $165,544.90. With the bonus, the total goes from $222,113.28 to $235,544.90. An increase of 6.05%.
For their part, the Non-contributory pensions they rise from $133,099.12 to $144,851.75. With the bonus, income increases from $203,099.12 to $214,851.75, which means an increase of 5.79%.
The minimum retirement is not enough to make ends meet. The value of the Basic Basket for Retirees in April was $685,041, according to calculations by the Ombudsman for the Elderly of CABA. Thus, June minimum credit ($206,931) including the $70,000 bonus totals $276,931 and It means only 40% of the Basket. Without the bonus, it represents only 30%.
The Milei government assured that it would adjust to the caste, but applied its chainsaw and blender plan to retirees, pensioners, workers and vulnerable sectors. According to a report from the Congressional Budget Office (CPO), Retirements and pensions were reduced by 28.5% in the first four months of the year and it was one of the items that had the most impact “on the reduction of total expenses accrued as of April 30.” However, the cut was not for everyone, The debt interest item rose 2% in the same period.
All governments adjusted retirees
The looting of retirements and pensions is not exclusive to Milei and Caputo but previous governments also adjusted for older adults.
The loss of purchasing power of minimum assets including the bonus was 13.6% between November 2023 and March 2024, as calculated by CIFRA. “This fall is added to the one that took place during Macri’s time (-23.8%) and the one that took place during the Frente de Todos government (-6.5%),” the report added.
The PTS deputy in the Left Front Nicolás del Caño He denounced at the Social Security and Social Security Commission that “all governments have brutally adjusted retirees and today they are truly at levels of destitution. That is why 90% of retirees today do not reach the basic basket for the elderly and the minimum retirement barely reaches 30% of that basket for the elderly.”
In 2023, what was allocated to retirements in relation to the product (9.61%) was below what was allocated in 2020 (9.61%), in 2015 it was 8.87%. These are lower percentages than what happens in other countries. For example, in Italy the coverage is 15.9% of the product, in France 14.5%, in Brazil 11.30%, Finland 11.9%.
Unlike the employers’ parties, the Left Front presented an opinion that proposes an emergency exit, immediate and comprehensive, to meet the needs of the millions of retirees and workers who are in misery: that the pockets of serial capital escapers, big businessmen, banks and debt creditors be touched and not those who have less; that there really be an immediate increase in the minimum pension for all workers, retirees, that an immediate update be included in which no pension can be below inflation, and obviously restore employer contributions so that all retirees and retirees can have the mobile 82% of the best salary in activity and an asset that at least covers the Basic Basket for Retirees and Pensioners, which must consider the multiple special needs for food, health, housing and medical care and be updated monthly, according to the cost of the basket of living or salary evolution (RIPTE).
Source: www.laizquierdadiario.com
