After the enactment of the Pension Moratorium Law, in the only session held during the period of extraordinary sessions in the National Congress, details are being known about the scope of the measurewhich already has the approval of the International Monetary Fund (IMF) and was promulgated by the President of the Nation, Alberto Fernández.
As reported by the National Social Security Administration (ANSES), 800,000 people will be able to access their retirement this year despite not having enough contributions to do sothanks to the extension of the pension moratorium, sanctioned at the end of February.
Likewise, the approximately 250,000 beneficiaries of the Universal Pension for the Elderly (PUAM) may also retire by moratorium. That is, they must replace their current retirement benefit.
The approximately 250,000 beneficiaries of the Universal Pension for the Elderly (PUAM) may also retire by moratorium.
As the pension for moratorium has a floor equivalent to the minimum amount and the PUAM is equivalent to 80% of the minimum pension, the assets of the beneficiaries may be 25% higher than what would correspond to them if they continued to collect the PUAM. This will happen once the moratorium fees are paid, even if there will already be an improvement in income while payments are being made.
The Universal Benefit for the Elderly (PUAM) is a benefit designed to guarantee pension coverage for people over 65 years of age who do not have a retirement or pension, according to the Ombudsman’s Office of the Autonomous City of Buenos Aires. It is reported that approximately 250,000 people are beneficiaries of it today.
There will already be an improvement in income while the payments of the moratorium installments are being made.
«The moratoriums are a tool that have allowed access to a retirement to more than three million people that they did not have the possibility of retiring since they did not have the legal extremes to receive the benefit, ”said the Center for Political Economy Argentina (CEPA) in a recent report.
After the approval of the IMF, the pension moratorium law was promulgated by the National Executive this Monday. To finance this additional expenditure, the Government agreed with the multinational organization to deepen and accelerate the cut in subsidies to public service rates. This has motivated La Cámpora to issue a statement, criticizing the terms of the agreement and its review. «Let Argentines vote what they want, but the country’s economy is decided by the IMF: that is what today’s Communiqué makes clear. Democracy? Well, thank you,” said the political group on Monday.
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