The minimum pension had an increase of 190.1% throughout the presidential administration of Alberto Fernández, with an improvement of 40% if it is contrasted with the basket of medicines most consumed by older adults with PAMI coverage, which in the same period they registered a rise of 107.6%.
This was highlighted by the Center for Argentine Political Economy (CEPA), in a study in which it compares the relationship between pensions and retail prices (RRP) of medicines covered by PAMI in the current administration and that of the former President Mauricio Macri, in which there was an “inverse evolution”, with a greater increase in remedies than in social security assets.
In this regard, the entity led by Hernán Letcher pointed out that between April 2018 and November 2019, the minimum retirement had an increase of 68.9% and medicines, 160.4%.
“The loss of purchasing power of the minimum pension measured in medicines for the period April 2018 to November 2019 was nothing more and nothing less than 35%”he underlined.
CEPA revealed that “in the following period”, after the assumption of Fernández, “even with the impact of the pandemic, the evolution was the other way around”.
In that sense, taking into account that the next increase in salaries according to the Mobility Law will be from June, it took two periods to make the comparison.
For the period November 2019 to May of this year, the increase in the minimum pension was 152.3%, while if it is taken to next June, the increase will be 190.1%.
“The evolution of the PVP of medicines most consumed by older adults added 143.4% to May and would reach 153.2% in June,” he said, concluding that in the Fernández Presidency “pensions beat the evolution of prices of most consumed medicines recovering 4%, if the data is considered to May and 15% if it is taken until June 2022 “.
CEPA noted that “in the case of the minimum retirement, in addition, the impact of the bonuses must be considered in the intermediate periods”, which if included in the comparison would show an even greater recovery of retirement assets compared to medicines.
But if only “the variation of the PVP PAMI of medicines most consumed by older adults” is taken into account, the increases were 99.6% in May and 107.6% in June 2022.
In those cases, he warned, “the recovery of the purchasing power of the minimum pension measured in PAMI medicines is 26.4% as of May and 40% as of June 2022.”