Retirements: ANSES made official the minimum and maximum salaries for May

The National Social Security Administration (ANSES) made official the 11% increase in the minimum and maximum salaries for May for retirees and pensioners, through Resolution 97/2024, published this Tuesday in the Official Gazette.The social security agency established “that the minimum guaranteed credit in force as of May 2024, will be $190,141.60”. While the maximum, starting in the fifth month of the year, will be $1,279,472.92.These amounts may be higher in case the Government maintains the bonus of 70,000 pesos, as has been happening in recent months. Thus, the minimum increase in May would be 260,124 pesos. Although the increase in assets reaches 11%, in line with inflation in March, the application of a bonus without updating will represent an increase of 7.81% compared to the total amount of $241,216 received in April, which causes the incidence of the increase applied to decrease. At the same time, in the official document signed by the head of ANSES, Mariano de los Heros, the minimum and maximum taxable bases were established at $64,039.66 and $2,081,258.67, respectively, as of the accrued period May 2024. In the event that the Government manages to restore Earnings, these amounts will be key as they impact the tax. In addition, the agency determined that the amount of the Universal Basic Benefit (PBU), applicable as of next month, will be $86,981.11. While the amount of the Universal Pension for the Elderly (PUAM) was set at the sum of $152,113.28.The new pension scheme will officially come into effect from July and will be based on the monthly adjustment based on inflation in the second month prior to the respective credit, so in the seventh month of the year it will be with the May index. Meanwhile, in the months leading up to it, advances are granted. This was the case with the 13.2% increase in April, linked to inflation in February, added to a 12.5% recomposition and the $70,000 bonus. Thus, the minimum pension went from $134,445 to $171,216 and if the reinforcement is added, it reached $241,216.With the new increase of 11% for May, based on the CPI of March, but without the percentage of recomposition and without a confirmed bonus, the minimum credit remained at $190,141. The same will happen in June, applying the same mechanism with an advance percentage for April’s inflation.

Original source in Spanish