The Government announced that it will apply a 20.92% increase in retirements between June and August, with which the minimum amount will go from the current $58,665.43 to about $70,938.23.

To this will be added a reinforcement for retirement and minimum pensions of $15,000 in June, $17,000 in July and $20,000 in August. In this way, no retiree will earn less than $87,938 out of pocket as of the sixth month of the year.

Likewise, in June the half bonus will be paid, so a retiree of the minimum will receive $121,407. In addition, those who receive a retirement or pension of up to two minimum salaries will also receive a proportional reinforcement, with a cap of $5,000 pesos. Thus, a person with income of up to two minimum retirements, as of June will receive 146,876 pesos plus the Christmas bonus.

Based on these numbers, the minimum retirement will have around a 130% annual increase (June 2022 – June 2023), which represents an increase of 7% in real terms, according to Raverta.

With this new increase for mobility, the Universal Child Allowance (AUH) and the Pregnancy Allowance for Social Protection (AxE) will also suffer an increase and will become 13,864 pesos.

“It is a measure that impacts more than 17 million people. We made the decision to guarantee an additional reinforcement with more than 250,000 million for the next quarter above the retirement payment and the Christmas bonus, so that retirees from the minimum receive a reinforcement for the next three months,” Massa said in a message he shared with Raverta.

Along these lines, Massa maintained that retirees require that “the State comply with them and that the State be close to them, making the greatest possible effort in terms of public investment with the Social Security Funds and, as we are going to do in the coming months, with additional Treasury assistance to ensure revenue is stronger.