Ismael Bermudez
06/17/2021 15:02
Clarín.com
Economy
Updated 06/17/2021 3:02 PM
The political decision is made.
The Government prepares the payment of
another special bond
to compensate for the loss of purchasing power of retirements and pensions in the quarter.
According to
government sources
told
Clarín
, in the coming days
the amount and scope will be defined
, although it is discounted that it will again reach the lowest retirements and pensions and
would be paid in a single bond in July or in 2 bonds, divided into July and August.
The highest assets would not have any compensation
, as happened with the bonuses paid in 2000 and early 2021.
In April and May, some
5 million retirees
, pensioners, non-contributory pensions and PUAM
received the extraordinary supplement of up to $ 1,500 each month
, who received
less than $ 30,856.
With the inflation data for May and the projections for June, retirements and pensions will once again lag behind the rise in prices.
In these first six of the year, retirements and pensions received two quarterly increases (8.07% and 12.12%), which end-to-end represents an increase of
21.2%.
With an average price rise of 3% in June, inflation for the first half of 2021 will add up to
25.1%.
It represents an
inter-semester loss of 3.1%.
On the other hand, if the sum of the assets is analyzed month by month, the loss varies according to the ranges of assets because in April and May bonuses of up to $ 1,500 were paid for those who receive the lowest assets.
Thus, the sum of what they charged month by month in relation to what would have corresponded to them according to inflation
results in a loss of 6.1%
. Meanwhile, for those who received the bonds, the loss is less than 4%. The greatest loss in the month-to-month versus inter-semester calculation is due to the fact that pensions increase every 3 months and inflation every month.
This is the outlook as of June, with inflation of 3% this month. But since the next increase in pensions is only in September, and assuming a moderate monthly inflation of 3% in July and 3% in August, the real retirement loss of 3.1% as of June
in the 8 months would amount to 8.7 %.
For this reason, the Government will grant one or two extraordinary payments to try to lessen this real loss of assets, but limited to the lowest pensions.
These losses explain why the Congressional Budget Office (OPC) assures that in May “regarding spending on retirements and pensions ($ 241,853 million)
there was a decrease of 10.0% year-on-year
, mainly explained by the gap between the updating of assets according to the mobility formula and the inflation rate (29.4% y / y vs 49.0% y / y). The $ 1,500 supplement granted to the lowest-income retirees made it possible to mitigate the reduction in purchasing power in that sector ”.
This reduction in real assets in the first half of 2021 adds to that of recent years.
According to a Study by ANSeS, in 2018 and 2019, retirements and pensions “during the two years that Law 27,426 was in force (suspended at the end of 2019 by Law 27,541 of Social Solidarity and Productive Reactivation in the framework of the Public Emergency) they suffered a loss in real terms of 19.5% ”.
In 2020, due to the increases by decree, the interannual increases were between 24.3% (having maximum) and 35.3% (having maximum) versus an inflation of 36.1%, which represents a decrease of up to 8.7%.
Meanwhile, if we take the increase in the value of the Food Basket (+ 45.5%) or the Poverty Basket (39.1%), which increased more than average inflation, there would be a greater loss of purchasing power of the minimum retirements, even computing the 3 bonuses that were granted during 2020.
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