The sunset of the pension moratorium sanctioned in 2023 is generating uncertainty among thousands of Argentinians who are facing difficulties in completing their contribution years. As this Sunday marks the end of the moratorium, the panorama for many older adults is becoming more complicated. According to ámbito.com, more than 240,000 people will be left without access to retirement, which is forcing them to evaluate other options, such as continuing to work or accessing the Universal Pension for Older Adults (PUAM).
What is happening with the Pension Moratorium?
The end of the moratorium is not simply an administrative change; it is, in practice, a de facto pension reform. According to data from the Social Security, approximately 150,000 women and 93,000 men, who are of retirement age (60 and 65 years respectively), will not be able to retire during 2025. This means that about 50% of men and 70% of women will not be able to access retirement at the established ages. "This situation is generating significant concern, as it raises questions about the future of social security in Argentina," says a financial analyst consulted by ámbito.com.
Alternatives for those affected
Faced with this scenario, those affected are exploring different alternatives to secure their retirement. One of the most viable options is the Universal Pension for Older Adults (PUAM). However, it is important to consider that the PUAM is equivalent to 80% of the minimum retirement, which, as of now, is around $279,121.71. This means that beneficiaries would receive approximately $223,297.37, in addition to a bonus of $70,000 that has remained frozen for a year. It is worth mentioning that, according to ámbito.com, this bonus should be 113% higher to compensate for the increase in the cost of living.
How to apply for PUAM?
The application process for PUAM is carried out through ANSES and requires a series of steps:
- Obtain a social security code through the ANSES website.
- Verify and update personal data.
- Request an appointment to complete the procedure in person at an ANSES office.
The Impact of the End of the Moratorium
The end of the moratorium has significant implications for the elderly. One of the main disadvantages of PUAM is the reduction in the amount of the benefit, which is equivalent to 80% of the minimum retirement. In addition, according to ámbito.com, the PUAM raises the retirement age for women, since it is accessed from the age of 65, regardless of gender. This also limits the right to work under a dependency relationship, a right that a retirement does offer.
"The situation is critical, since many people depend on these benefits to cover their basic needs," says a social worker interviewed by ámbito.com. «The end of the moratorium is adding even more pressure to a system that is already under stress.»
The reality of retirements in Argentina
Data from the Statistical Bulletin of Social Security of ANSES reveals that 59.5% of current retirements were granted through moratoriums. Since 2005, the number of retirements and pensions has increased from 3.1 million to 7.2 million, a 130% increase, largely driven by these regularization plans. However, experts warn that only 25% of people who reach retirement age meet the 30 years of contributions. This means that 3 out of 4 workers will not be able to access a traditional retirement and must opt for PUAM.
Faced with this reality, it is essential to evaluate long-term solutions that guarantee a dignified retirement for all Argentinians. As ámbito.com points out, «it is necessary to rethink the pension system in its entirety, seeking sustainable and equitable solutions that take into account the needs of all citizens.»
The future of the Argentine pension system
The scenario is complex, but it also opens the door to reflection and the search for innovative solutions. The end of the moratorium is a wake-up call to rethink the pension system and seek alternatives that guarantee a dignified and secure retirement for all Argentinians. The key, according to experts, lies in finding a balance between fiscal sustainability and social protection.
In summary, the end of the pension moratorium is generating uncertainty and concern among thousands of older adults in Argentina. While PUAM offers an alternative, it is essential to evaluate its implications and seek long-term solutions that guarantee a dignified retirement for all.
