Argentina social security benefits to increase in October

In Argentina, social security benefits and family allowances managed by ANSES will receive an update in October based on the 1.7% inflation rate recorded in August by INDEC. This adjustment, determined by the current mobility formula, will result in an effective increase of approximately 1.65% to 1.66% for pensions and the Universal Child Allowance (AUH).

The minimum pension is expected to reach approximately $435,662.86. If the government maintains the extraordinary $70,000 bonus, the total monthly income for minimum pensioners would reach roughly $505,662.86. However, because the bonus has remained frozen since March 2024, the real purchasing power for those receiving the minimum benefit has seen a decline compared to previous years.

Reports indicate a widening gap between social benefits and the cost of living. In Buenos Aires, studies show that the cost of essential goods and services for seniors has risen significantly faster than pension increases. Additionally, private sector real wages have seen a decline of nearly 3% over the last year, with some sectors experiencing sharper contractions.