With the increase in retirement and pensions for the March-May period - which is estimated to be around
17/18%
- there will be a
new bonus for those who earn lower salaries during those months.
Otherwise, these retirees and pensioners would earn less than in previous months, they admitted to the Government.
The increase in mobility for March-May will be announced next Friday the 10th when INDEC reports the December Salary Index, the variable that is missing to finish calculating the percentage increase in salaries.
But it is estimated that it could be around 17 to 18%.
The minimum retirement today is
$50,124
(gross) plus $10,000 bonus.
In total $60,124.
With a mobility of 18%,
the minimum retirement would go to $59,146
.
Thus, without a bonus, the retiree or pensioner with minimum salaries would receive nominally less than in previous months, with a strong additional deterioration in relation to inflation.
Consequently, a bonus of at least $12,000 per month would be necessary to bring the total income to $71,146, which would represent 18% more than what was received in the previous quarter.
From being a “one-time” or “extraordinary” compensation,
due to the skyrocketing inflation, these bonds have become permanent and in ascending values
.
And they cannot stop repeating themselves because the increases for mobility would be annulled if those retirees lose the collection of the bonuses.
After the loss of 19.5% of retirement assets between September 2017 and November 2019, the pension bonus for those with lower salaries debuted with the current Government "for the only time" in December 2019.
Thus, bonuses of $5,000 were granted in December 2019 and January 2020 for minimum retirements and another of $3,000 in April of that year.
Bonuses of $1,500 were given out in April and May 2021.
A bonus of $5,000 was given in August and a bonus of up to $8,000 in December 2021.
In the IMF Staff Report, which accompanied the agreement with Argentina, it was pointed out that the pension system pays very high salaries with respect to salaries and that
"discretionary increases in retirement and pensions should be avoided",
in relation to to special bonuses.
However, with the audits approved and without new objections from the international organization being known, due to the skyrocketing inflation, in 2022,
the bonds became more frequent
.
In April ($6,000) and May ($12,000), August (up to $5,000), September, October and November ($4,000/7,000), December, January and February 2023 (from $7,000/10,000).
This happens because the mobility formula – which combines salaries with tax collection that goes to Social Security – does not have a guarantee clause or automatic compensation against inflation.
And the bonuses are only received by retirees and pensioners with lower salaries, flattening the system's income pyramid.
In addition, since they are not integrated into credit, the bonuses compensate a sector of retirees for a part of the price increase of the month or months in which they are collected, but in the following month or months the total income of the retiree returns to the pre-bonus level and is requires new bonuses to be awarded that become more frequent.
On the other hand,
bonuses are not taken into account for future increases in assets
.
In this way, the retirement loss continues “for life”.
Meanwhile, those who do not collect the bonus – more than 2 million retirees and pensioners – do not have any compensation and absorb, with a drop in real terms of their assets, the complete loss due to inflation.
Without the bonuses, the mobility formula in 2022 yielded 72.5% versus annual inflation of 94.8%.
A loss of 11.5%.
