Minimum retirement pension in Argentina – 66% the base salary

With the adjustment made to the retirement pension, in effect as of March 2011, the minimum retirement pension will be equal to 66% the minimum wage, which as of last month is equal to $1,840 pesos – approximately $460 USD. Although it is an improvement from 60% December last year, it is 15 points below the 82% objective voted the previous year. The minimum retirement pension accounts for about 50% the value of a pensioner’s consumption basket (last December, the value was $2,458 pesos – approximately $610 USD), which continues to leave retirement very far from covering pensioner’s basic needs. Click here to see the full article published by La Nación.