Entre Ríos enacts pension reform and declares financial emergency

The province of Entre Ríos, Argentina, has promulgated Law No. 11.302, a pension reform aimed at restoring the financial equilibrium of the provincial Pension and Retirement Fund. The law declares an economic and financial emergency for the fund for an initial period of two years, which the Executive Branch may extend for an additional two years if necessary.

Key measures include new personal and employer contributions. Specifically, an extraordinary personal contribution of 3% will be applied to the gross remuneration of active workers earning $3 million or more. Employer contributions will also increase by 3%, though this rate is reduced to 1.5% for non-deficit employers in certain sectors.

The reform introduces changes to retirement ages and required years of service. While the long-term goal is to set the retirement age at 65 for men and 60 for women with 35 years of service, these requirements will not be implemented immediately. Current ages and the 30-year service requirement will remain in effect for five years, with the transition to the new requirements scheduled to begin on January 1, 2031.