They set the ceiling for Family Allowances at 404 thousand pesos

The Minister of Economy, Sergio Massa, and the director of Anses, Fernanda Raverta, announced a new ceiling for the coverage of Family Allowances, which represents an investment by the National State of $4,000 million per month.

Since March, “the income ceiling to receive Family Allowances will be equalized with the Income Tax floor. In this way, the new ceiling will go from $158,366 to $404,062”, said the minister.

This measure “is a way to increase income, but also to make its distribution fairer,” Massa stressed when making the announcement from the Palacio de Hacienda.

In this context, he added that the country “is going through an enormous challenge. On the one hand, to recover income and, on the other, to guarantee macroeconomic stability. Both are important in order to guarantee a challenge that we have as a government, which is the recovery of income in Argentina and the improvement in its distribution”.

The expansion of this coverage “implies a fiscal effort of approximately $4,000 million per month,” said Massa.

This measure will allow the incorporation of 900,000 girls, boys and adolescents into the Single System of Family Allowances (SUAF), benefiting more than 600,000 workers.

With this measure, the coverage of Family Allowances is extended to more than 4.4 million girls, boys and adolescents and to 2.9 million registered workers.

During the announcement, Raverta highlighted that “with this measure, starting in March, 900,000 girls and boys will have their Family Allowance, like the daughters and sons of the rest of the workers in Argentina.”

“This announcement is very important, since it values ​​the efforts of 600,000 workers,” said the head of Anses, who also remarked that the setting of the maximum amount “will remain permanently since, from now on, every time it increases the Income Tax floor will also assimilate the ceiling up to which the Family Allowances will be received”.

Finally, Massa said that “it is very important that we have strength in the Social Security System.”

Currently, workers who receive between $158,336 and $404,062 do not receive a family salary or deduct their children from earnings.

Starting from the new amount, the amount of the allowance will decrease as the income of the Family Group (IGF) increases.

Starting in March, Rank I (with an IGF up to $177,554) will earn $11,465; range II (between $177,554.01 and $260,403), $7,732; rank III (between $260,403.01 and $300,645), $4,675; and rank IV (between $300,645.01 and $808,124), $2,410, detailed Anses.