ANSES unions protest use of Sustainability Guarantee Fund for mortgage credits

Labor unions at ANSES are criticizing the Argentine government's plan to use resources from the Fondo de Garantía de Sustentabilidad (FGS) to fund mortgage credits through private banks. The Ministry of Economy announced that up to 2 trillion pesos from the FGS would be used as long-term funding for financial institutions.

Luciano Fernández of the Asociación Trabajadores del Estado (ATE) argued that the FGS is the patrimony of the pension system and belongs to workers, rather than being a financial fund for the government or banks. Union leaders expressed concern that the new scheme, channeled through private banking, will require prohibitive income levels for most salaried workers, noting that official simulations suggest net family income requirements near 3.46 million pesos per month.

Additionally, Leonardo Fabre of APOPS questioned the effectiveness of the unity among the four ANSES unions, calling for concrete measures to recover wages. This tension follows a government proposal for a 1.7% monthly salary update between September and December, a measure accepted by UPCN but rejected by ATE, highlighting growing divisions in union strategies regarding the loss of purchasing power.