Retirees: the Government will deliver an extraordinary bonus

The Government defines the payment of a special bonus for improve the purchasing power of retirements and pensions in the quarter. The bonus would be from 6500 to 8000 pesos. In the next few days they would define the scope. Is that with the inflation data for May and the projections for June, the retirements and pensions they would fall behind again in the face of rising prices.

In the first half of the year and with the new formula in force since March, retirements and pensions received two quarterly increases of 8.07 and 12.12 percent respectively. The total increase is 21.2 percent. With an average price rise of 3 percent in June, inflation for the first half of 2021 will add up to 25.1 percent, representing a loss of 3.1 percent compared to the same half of the previous year.

Taking into account what happened to the bonds paid during 2020 and early 2021, it will surely reach the lowest pensions and pensions again and leave out the highest assets. The official objective is to rebuild the purchasing power of the popular sectors, in line with the promise of President Alberto Fernández to privilege the social groups that are at the base of the income pyramid.

It also comes to respond to the objective set out in this year’s Budget that the salary beats the evolution of prices.

Empower Work

After a new meeting of the economic cabinet and the publication of the price index that resulted in an increase of 21.5 percent so far this year, the Minister of Social Development, Daniel Arroyo placeholder image, announced that it will grant a Extraordinary bonus of 6000 pesos for holders of the Promote Work program with the aim of “sustaining their income and injecting money that promotes consumption at the local level,” he explained.

The Program is one of the pillars of the social containment plan for vulnerable sectors carried out by the Ministry of Social Development. It has been in force since June 2020 and reaches almost one million people who will receive this extra income in July.

Unlike the Feed Card, designed to meet more urgent needs, this program aims to contribute to improving employment and generating new productive proposals Through the development of socio-productive, socio-community, socio-labor projects and educational completion, in order to promote full social inclusion for people who are in a situation of social and economic vulnerability.

General increase

The price index for May was not only the headline of newspapers and the agenda of the day of the economic cabinet, it also set off alarms in the union sector. The secretary general of the CTA of the Workers, Hugo yasky, claimed a general salary increase and reiterated the claim that salaries do not lose with inflation.

“We ask for a general salary increase as was done at the beginning of Alberto Fernández’s term,” explained the leader. He refers to the “solidarity increase” that was made official by decree as soon as Alberto Fernández took office due to the economic crisis and the deterioration in purchasing power that the workers suffered during the macrismo It was a salary increase of 4000 pesos on account of future joint ventures for workers in the private sector

The deputy from the Frente de Todos specified that the general salary of workers is 29 points below inflation. It is for this reason that the union world understands that the only way to recover them is a general increase in wages. He stated that “the salary increase would have to be 5,000 pesos and then another 2,500 pesos and then added to the parity.”

“There must be an emergency increase in the minimum wage, advance the times of its review. That also impacts social plans,” Yasky remarked while warning that “there must also be an emergency recomposition for retirees.”

The leader of the Workers’ CTA called for greater price controls: “The messages from the Government were ignored by the price makers” and ruled that the business chambers speculate with this mechanism so that the Government loses the elections.

“We lost what we gained in the parities with the price remarks. Inflation, runs and devaluationsBesides generating profits for them, they manage to hurt the government’s economic program, “Yasky said.

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