The Limited Times

Now you can see non-English news...

Family salary: one of the National Budget items with the largest adjustment

2023-03-20T12:02:47.513Z


Due to the very high inflation, spending on Family Allowances for active workers had a real year-on-year reduction of 56.4% as of February.


The item of the National Budget for Family Allowances, such as salary per child or prenatal care,

is one of the items that

had the greatest adjustments over the last 12 months.

According to the Congressional Budget Office (OPC),

spending on Family Allowances for active workers had a real year-on-year reduction

of 56.4% as of February "as a result of updating the value of benefits

below inflation (72 .5% vs. 100.7%)

, the decrease in the monthly supplement provided in October 2021 and the reduction in the number of benefits, due to the policy of updating the maximum limits to access the benefit, which will only have an impact in March ”.

No other Social Security item had a loss of this magnitude

.

Meanwhile, the AUH (Universal Child Allowance) fell by 2.7% year-on-year, due to updating the value of the benefit below inflation”.

Going forward, in part,

this was corrected because since March the salary cap was increased - from $158,366 to $404,062 gross

- which gives the right to collect the family salary, but what was lost in these 12 months was not repaired.

Thus, although the measure allows the parents of more than 900,000 children to once again receive the allowance per child that they were losing due to the lack of adjustment of the ceiling for 12 months, the amounts

of those benefits were not updated and will continue to accumulate a heavy loss.

against inflation.

The benefits of the system have four ranges according to family income and are adjusted every 3 months, according to pension mobility.

New values ​​debut in March that are maintained in April and May.

As a result, in 12 months, the family allowance has increased by 79.9%

, compared to

inflation

that at the time the benefit is collected -from March to May- will exceed 105%.

It represents a

loss of 15%

that is added to the setback that they had throughout the previous 4 years and that was of the order of more than 25%.

Family allowances: losses against inflation

For the lower salary ranges, the current loss is greater because in 2021 and 2022 these scales had additional family salaries, supplements or reinforcements for several months that were not integrated into the benefit and were not extended.

Consequently, from this month, the first range receives $11,465, when in March 2022 the benefit was $6,375 plus a complement of $3,751.

In total $10,126.

In relation to the $11,465 to be collected since March, it represents an increase of only 13.22% compared to an inflation of more than 100%.

Rank 2 charges

 $7,732 in March versus $4,300 plus a plus of $2,530.

In total $6,530.

This is equivalent to an increase of 18.4% in 12 months.

Rank 3 will receive $4,675 per child from March compared to $2,599 (+ 79.9%) in March 2022 and rank 4 will receive $2,410 compared to $1,339 (+ 79.9%) a year ago, in both cases for below the year-on-year rise in prices.

The setback of lower-income workers is even greater because at the beginning of September, according to decree 578/2022,

the reinforcement was raised to $20,000, but only for 3 months: September, October and November 2022.

Thus, this extra help stopped being paid in December and the family salary per child for lower-income workers fell to $10,126.

And now,

as of March, it's barely up to $11,465.

According to ANSeS, since March 2.9 million fathers or mothers with registered jobs of 4.4 million boys and girls have been receiving family allowances.

Above

the new cap of $404,062, the father or mother can deduct for their children

an amount from the income tax base.

On the other hand, another 2.3 million fathers or mothers who work informally or are inactive out of 4.5 million boys and girls receive the AUH for an amount similar to that of Rank 1 ($11,465 per child) more, according to age ranges, the food card.

NS

look also

Inflation among the poorest is the highest since April 2002: 11.7% in one month

Santander stops asking retirees for proof of life: bank by bank, what is the process they have to do?

Source: clarin

All business articles on 2023-03-20

You may like

News/Politics 2024-02-20T14:13:44.134Z

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.