Retirees Face Inflation Losses Amid Economic Uncertainty: Urgent Action Needed to Guarantee Financial Stability of Pension Payments

Inflation continues to rise, and a new report from the Argentine Institute of Fiscal Analysis (IARAF) reveals that retirees are experiencing significant losses despite adjustments for inflation since April. Those receiving the minimum salary saw a 44% decrease in their monthly assets compared to 2017. Nadin Argañaraz from IARAF emphasizes the importance of the government’s decision regarding compensatory bonuses, as freezing them has led to retirees falling even further behind inflation rates. The situation is dire for many retirees, with some groups facing losses of up to 77.7% compared to expected inflation rates. The Chamber of Deputies has approved a project to improve real assets by 7.2%, but the President has expressed concerns about fiscal balance. Balancing the needs of retirees with overall fiscal sustainability is crucial. Argañaraz stresses the urgency of finding a solution that guarantees retirees can recover their purchasing power from 2017, while making decisions to ensure continued financial stability of pension payments is essential for the future.