Retired couples in Buenos Aires need over $1.5 million monthly for basic needs

A retired couple in Buenos Aires requires a minimum monthly income of $1,577,435 Argentine pesos to cover essential goods and services, excluding housing costs and private health insurance. This figure, derived from a report by the Defensoría del Pueblo de la Ciudad Autónoma de Buenos Aires, represents a substantial increase from previous months.

When rent and private health insurance are factored in, the required income rises sharply. For a couple with rent and health insurance, the monthly cost climbs to $2,749,141. If they rent but do not have private health coverage, the necessary income is $2,335,211. These amounts reflect the rising cost of living and the challenges faced by retirees in maintaining their financial stability.

The report also estimates the costs for individuals living alone. A woman aged 75 or older living alone needs $869,069 for basic needs if she owns her home, $1,454,922 with rent and health insurance, and $1,429,123 if she rents without private health coverage.

Compounding these financial pressures, pension increases for retirees in the general system of Anses have not kept pace with inflation. In the first four months of the year, nominal pension increases were 11.6%, falling short of the rising costs for essential goods and services. The minimum pension, including a bonus, saw an even smaller increase of 9.6%. This disparity is partly due to the fixed bonus amount of $70,000 since March 2024, despite significant inflation.