Ismael Bermúdez
11/19/2020 4:12 PM
Clarín.com
Economy
Updated 11/19/2020 4:12 PM
With the increase of 5% for December, this year, the minimum pensions will accumulate an increase of
35.3%
and the maximum of
25.3%
.
There are still two months to go before we have the inflation records for all of 2020, but with average price increases for November and December almost similar to those of October,
annual inflation could reach 36.3% or a little more.
Consequently, end-to-end,
the minimum retirement would have a loss of 1 point and the maximum of 11 points.
Guido Lorenzo,
from the LCG consultancy and
Lorenzo Sigaut Gravina
, from Ecolatina, estimate an inflationary closing 2020 of 36%.
Jorge Neyro, from
ACM Consultores
, 37%.
The consulting
firms
grouped in
LatinFocus Consensus Forecast forecast
, 10 days ago, 37.4%.
From these numbers it can be inferred that
the statement of the Chief of Staff, Santiago Cafiero,
that, with the increase of 5%, which
“gives an increase in minimum pensions of 35.3% so far this year
would not be valid
(... ) 75% of pension benefits beat inflation ”.
Even if the inflation estimates for November and December were a little lower, in the best case scenario, having a minimum would tie the rise in prices.
Therefore, it would not be correct either that “we are
recomposing the losses
of pension assets that have dragged on since 2018 and 2019 which, in real terms, were
19%
with the formula of the previous government,” as the Chief of Staff added.
Thus, there would be no recomposition because the minimum pensions would maintain the real decline of 2018 and 2019 (there were only extraordinary bonds for $ 13,000 that were not integrated into assets).
Meanwhile, the highest pensions would lose 8.1% this year, which added to the real losses of 2018 and 2019 would accumulate
a decline of up to 25%
in 3 years
.
For the minimum retirement, the 5% increase in December is the lowest of the other three granted during the year when the last inflation figure (October, 3.8%) was the highest of the current management,
they are being authorized raise or release regulated prices
(such as price caps, fuel, prepaid - 10% in December) and food prices continue to climb.
For this reason, the trajectories of assets throughout the year show that what leads to a decrease in the minimum / inflation ratio as of August is the increase of only 5% in December - which extends to January and February of 2021- as a consequence of the acceleration of price increases.
In contrast,
the highest assets lose to inflation every month of the year.
For its part, the formula that governed in 2018/19 was suspended with the argument of improving this year by decree pensions and social benefits, but that suspended formula would have yielded 42% for all benefits, minimum and maximum.
The increases would have been in March (11.56%), June (10.89%), September (9.88%) and December (4.48%).
Look also
"This was a good year" for retirees, said Fernanda Raverta after the announcement of the 5% increase in assets
Retirement: the increase will be 5% and would not be enough to offset the inflation of the quarter
