The ANSeS transfers funds to the provinces to finance the retirement and pension deficit

The ANSeS agreed with the Misiones Retirement and Pension Fund to transfer $ 979,775,236 as an advance on the deficit incurred this year in 12 installments of $ 81,647,936 each, according to Resolution 375/2020 published this Tuesday in the Official bulletin.

This agreement is in addition to those reached with six other provincial Retirement Funds not transferred to the national system that are receiving payments in installments for a total of $ 18,607.8 million, approved last March.

This was established by ANSeS Resolution 78/2020, which states that the initial budgetary credit for transfers to the provincial pension funds is governed by the amounts for the year, which were set at $ 22,000 million and then expanded by another $ 5,000 million, adding a total of $ 27,000 million.

The six provincial Savings Banks are those of Córdoba, Corrientes, Entre Rios, Formosa, La Pampa and Santa Fe.

The measure is not part of the package linked to the coronavirus, but rather they are habitual drafts of the ANSeS and that appear in the Agency’s Budget.

The absorption by the ANSeS of the deficits of the provincial funds not transferred dates from 1994. At that time the possibility was agreed for the provinces to transfer their pension funds to the Nation. This was done by 10 provinces and the Autonomous City of Buenos Aires. While other 13 provinces continued with their own pension regimes for employees of their public administrations: Córdoba, Buenos Aires, Chaco, Chubut, Corrientes, Entre Ríos, Formosa, La Pampa, Misiones, Neuquén, Santa Cruz, Santa Fe and Tierra del Fuego , being in charge of the ANSeS the absorption of its deficits. To receive these resources, the provinces must comply with the sending of information that is audited by the ANSeS.

Province by province Transfers are as follows:

Córdoba: the first installment will be $ 616,618,806.23 and the remaining 11 equal and consecutive $ 616,618,806.28 each. Total $ 7,399,425,675.31

Corrientes: a total of $ 586,712,034.00 in 12 equal and consecutive installments of $ 48,892,669.50 each.

Entre Rios: a total of $ 4,065,563,201.12. First Installment of $ 338,796,933.39 and the remaining 11 equal and consecutive installments of $ 338,796,933.43 each.

Formosa: $ 951,350,376.00 in 12 equal and consecutive installments of $ 79,279,198 each.

La Pampa: a total of $ 962,272,801.75 in a first installment of $ 80,189,400.10 and the 11 of $ 80,189,400.15 each.

Missions: $ 979,775,236.99 in a first installment of $ 81,647,936.48 and the remaining 11 equal and consecutive installments of $ 81,647,936.41 each

Santa Fe: $ 4,642,482,569 in a first installment of $ 386,873,547.38 and the 11 of $ 386,873,547.42 each.

Richard Addington

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