The new megabill sent to Congress proposes
to repeal Law 27,705
, the last and most important
pension moratorium
(“Pension Debt Payment Unit”) approved in March 2023, for 2 years, extendable for another 2 years. The remaining moratoriums are maintained but as they are much earlier, over the years they have almost no impact on accessing retirement.
Due to this law, which was
questioned by the International Monetary Fund in 2023
, 460,000 people
retired
(8 out of 10 new retirees), mostly women. And if it is repealed, due to the very high informality, from now on
they will only be able to access the PUAM
(Universal Benefit for the Elderly) at the age of 65, (both men and women) with
80% of the minimum salary,
without the right to a pension for widowhood, regardless of the years actually contributed, and if they demonstrate that they are in a situation of social vulnerability.
The value of the PUAM in April is $207,026
($137,026 plus the $70,000 bonus).
Law 27,705 has two variants:
The first modality includes people who have reached retirement age (60 years for women, 65 for men), who do not have and will not have in the coming months the 30 years of contributions to begin the retirement process.
The second variant is intended for women over 50 and under 60 and men over 55 and under 65 who already know that they will not be able to complete their contributions when they reach retirement age.
In the first case, they are allowed to regularize the missing periods until the month of December 2008 (inclusive) through the application of a
payment method in installments that will be deducted directly from the retirement income they obtain
. The number of installments may be up to 120 months.
The installments to be disbursed for the months to be regularized are calculated according to the so-called “Pension Debt Payment Unit”, whose value is equivalent to 29% of the minimum taxable remuneration base in force on the date of the pension benefit request. . You may pay, for example, one or more units per month, according to the payment plan chosen.
But that fee that will be paid will only serve to access retirement. It will not affect the credit, which will be calculated based on the contributions actually received without moratorium.
In other words, whoever retires with the moratorium will have a "discount" on their retirement because they will receive only the years contributed and will also have the discount of the contribution on their assets during the months or years that the moratorium lasts.
The second variant is intended for women over 50 and under 60 and men over 55 and under 65 who, having only a few years of contributions, already know that they will not be able to complete 30 years when they reach retirement age.
This mechanism can be used by those who can prove income that allows them to justify the payment of the debt arising from the “Contribution Cancellation Unit” for periods prior to March 31, 2012. The value of this Cancellation Unit (UCDP) is also 29 % of the minimum taxable base. This amount is adjusted for mobility.
If Law 27705 is repealed, the following effects occur:
Those who do not reach 30 years of contributions will be able to access the PUAM at age 65 with 80% of the minimum assets, plus possibly the bonus, regardless of the years they have actually contributed. The most affected will be women because today they can retire through the UDPP at 62 years of age or younger by appealing to pension recognition for child care tasks, and in this way from now on they will not be able to complete the missing years and They will have to wait until they are 65 years old to access the PUAM, according to lawyer Anibal Paz.
People who are less than 10 years away from retiring can regularize their contributions, paying the debt, in such a way as to reach 30 years of contributions upon reaching retirement age. . But by leaving it void if the official project is approved, it would mean that only 2 out of 10 people will be able to retire given the very high labor informality (people employed without contributions or retirement discounts), says lawyer Andrea Falcone.
For its part, if the project is approved, the regulations
must clarify what happens to those who have already completed the plan or are in the process of paying that plan
or already have an appointment at the ANSeS to carry out the procedure. It is assumed that their acquired right must be respected.