ANSES reports surplus driven by Sustainability Guarantee Fund income

Argentina's National Social Security Administration (ANSES) reported a financial surplus of 798,096 million pesos for the first half of the year. This result was driven by the accumulation of current and capital resources totaling 41,104,623 million pesos against expenditures of 40,306,526 million pesos.

However, the surplus is largely attributed to property income from the Sustainability Guarantee Fund (FGS) rather than social security contributions and worker withholdings. Property income saw a nominal increase of 188.2%, rising from 1,527,018 million to 4,400,167 million pesos. If these property incomes from the FGS were excluded, ANSES would have recorded a deficit of 3,602,070 million pesos.

To ensure transparency and oversight of these assets, several bodies are responsible for auditing the FGS. Internal controls are managed by the General Comptroller of the Nation (SIGEN) and the Internal Audit Unit (UAI). External technical oversight is provided by the General Audit Office of the Nation (AGN), while the Legislative Branch performs political supervision through the Bicameral Commission for the Control of Social Security Funds. Additionally, the FGS Council includes representatives from the Ministry of Economy, unions, employers, and retirees to consult on financial investments.