New Retirees in Argentina Halve Amid Contribution Plan Expiration

Argentina has seen a significant drop in new retirees, with the number of individuals accessing benefits through the Anses general regime falling by 45% in the first half of 2026 compared to the same period in 2025. This decline is even more pronounced when compared to earlier years, showing a 53% decrease from the first half of 2024 and a 36% to 44% reduction compared to 2022 and 2023.

The primary reasons cited for this trend are the expiration of a contribution purchase plan in March 2025, which had allowed individuals to regularize their contributions, and the ongoing issue of high labor informality. Additionally, the existing pension law maintains a strict requirement of at least 30 years of contributions to qualify for retirement.

Interestingly, for the first time in a long period, the proportion of new retirees who used a moratorium or contribution purchase plan was lower than those who qualified without such assistance. In the first half of 2026, 43% of new retirees used a moratorium, while 57% did not. This contrasts with previous years, such as 2024 and 2025, where over seven out of ten new retirees relied on these plans to complete their contribution records. Annual data from 2010 to 2025 consistently showed a higher number of retirees using moratoriums.

A law passed by Congress last year, which included provisions to reinstate a pension moratorium plan, was ultimately vetoed by the Executive Branch. The contribution purchase plan, part of Law 27.705, allowed individuals to buy back missed contributions without upfront payment, with deductions made from monthly pensions. This scheme, which was set to expire on March 23, 2025, was not extended by the current administration, despite initial discussions about introducing proportional benefits based on years contributed.