Argentina's Anses to raise minimum pensions by 1.89% in August

Argentina's National Social Security Administration (Anses) will implement a 1.89% pension adjustment in August. This increase will raise the gross minimum pension from $411,989 to $419,776, while the maximum pension will rise to $2,824,695.

The adjustment is based on the June Consumer Price Index (IPC) variation, reported by Indec. For those receiving the minimum pension, a $70,000 bonus is added, bringing the total gross income to $489,776. After deducting the PAMI contribution, the net amount received will be $477,183.

However, the effective income increase for these retirees is less than the 1.89% due to the bonus remaining frozen since March 2024. This bonus is provided via executive decree and officials have indicated no political will to increase it. Approximately 2.96 million people receive the minimum income, many through a pension moratorium.

Non-contributory benefits, such as the Universal Pension for the Elderly (PUAM) and disability pensions, will also be updated by inflation and include the $70,000 bonus. The PUAM will reach $405,821 gross, and the disability pension will reach $363,843 gross in August.