December salary receipts of retirees from the province of Córdoba are reported to have seen improvements of up to 30%. In some cases, in addition to the inclusion of the item “Law on Equality”, the abolition of the deduction for “Solidarity” (Article 58 Law 10.694) is also added.
They correspond Passives whose income is about 1.3 to 1.5 million pesos, both from police officers, teachers or municipal employees, as well as from some banking sectors. The range of net gains they receive Improvements between 100,000 and 250,000 pesos per month. For those who have a double benefit (retirement and pension), the update can reach an additional 300,000 or 400,000 pesos per month.
These are examples that I have access to Córdoba profile of the assets of the liabilities of Córdoba and the comparison of the assets with the new “Equity Law”. At first glance, the improvement is objective.
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The general scope covers approximately 52,000 beneficiaries, and by raising the floor for the payment of the solidarity contribution from 1,260,000 to 1,890,000 pesos, approximately another 10,000 beneficiaries will stop paying this contribution.
If both benefits are included, the measure reaches almost 60,000 people, which represents almost half of the total 116,000 beneficiaries of the Córdoba Pension Fund. Savings of between 65,000 and 75,000 million pesos are forecast for the province. By 2026, the system is expected to record a deficit of 821,000 million pesos.
Some examples of the new assets
For example one Removed from the “General Ranking” section which was received in November of this year 1,269,882 pesoswill be paid out in the next few days $1,533,885an improvement of almost 23% compared to the previous month.
In this receipt you can see that the concept has been added “Additional Equity Law No. 11,087.” Other discounts such as life insurance and death benefits do not change their value. However, the Apross payment will be calculated with the new balance.
Another case is that of a teacher who received $1,321,419 out of pocket last monthwhich received fonid compensation and total withholding of $216,508, now receives $1,580,061 with reductions of $144,468 as the Article 58 contribution discount is no longer calculated.
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Another case of a Canals teacher who has already received more than $1.5 million like retirement, will reach $2,014,125 when you see that your new pension for December will be paid in the first days of January.
A former architecture department employee who had assets of $1,206,818 in November now sees a deposit of $1,480,145 in the bank account. In the case of a retiree from the deep interior communitywhich received $1,160,589 per month, it will now reach $1,368,080 with the Additional Equity Law.
Another example, in this case Villa Nueva, achieves a 28% improvement with the update, from $1,062,000 to approximately $1,303,600. An improvement of almost 30% was achieved from one month to the next.
On the police side, a pensioner who earned $1,554,296 gross in November has to add almost $200,000 extra in December, coming to 1,734,876 pesos. In other cases of retired police officers, the improvement in their pockets amounts to almost $400,000.
High Income Sectors and Personal Contributions
An additional contribution was made available for sectors with higher salaries, such as judges or bank managers. However, it was made clear that there are no nominal discounts on what they currently receive out of pocket.
If the higher contribution results in a lower amount than the amount collected in November, this difference will be made up due to future increases based on asset parities. That means the retiree will continue to earn the same amount until the new increases close that gap.
The example can be explained based on the perception of a bank pensioner. His assets reached 5,300,000 pesos in November. Under the Equity Act, your future retirement impact would be approximately $4,850,000. However, they assure that the difference will be made up by a transfer to the “future increase account” so that you will receive exactly the same as in November.
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