Retirements, pensions and other Social Security benefits, which reach more than 17 million people, will increase 5.66% in June. The data comes after knowing the values of the evolution of wages and inflation in October, November and December 2017 – fourth quarter – which are taken into account to calculate the new mobility formula.
In those three months, inflation added 6.1% and now it is known that the wage index called Average Taxable Compensation of Stable Workers (Ripte) was 4.63%. The mobility formula is a sum that includes 70% of the quarterly variation recorded by the Indec price index and 30% of the evolution in the same Ripte period. In this case, 70% of 6.1 is 4.27, and 30% of 4.63 is 1.39. The sum is 5.66%, slightly lower than the 5.71% that will be received in March.
Thus the formula gives a lower value than inflation because formal wages in the fourth quarter of last year had an adjustment lower than the evolution of prices of 1.5 percentage points.
With this second increase based on the new mobility formula, Social Security benefits will have an increase of 11.7% in June compared to December 2017. With the previous formula in March, the increase would have been 14.5 %, three months before.
To partially compensate this difference, in March 65% of those reached by mobility charge a bonus of $ 375 or $ 750, depending on the case and of $ 400 that receive the AUH. It is not charged to parents of children with formal employment or to retirees and pensioners with assets over $ 9,460.
Mobility includes 7 million retirees and pensioners, 1.5 million Non-Contributory Pensions (PNC) and Universal Pensions for the Elderly (PUAM), 4 million AUH and more than 5 million family allowances.