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The Government suspended loans for retirees, workers and AUH beneficiaries

Through the Resolution 1/2023 and in line with the public emergency in economic matters, financial, fiscal, administrative, pension, tariff, health and social until December 31, 2025 established by Decree 70, the benefit will enter a review stage.

“The current investment in ANSES Credit Program must be reanalyzed considering the economic context of the country that makes it difficult to assess the inflation index for the coming months, as well as the interest rate to apply within the personal loan market,” specified the pension agency.

Along the same lines, ANSES described as “desirable” the paralysis of granting the amounts “as a preventive measure to protect the profitability of the fund, and in order to privilege its liquidity.”

ANSES credits: which ones are in the spotlight

In November 2023 and in the middle of the election campaign Heading to the presidential runoff, the former Minister of Economy, Sergio Massahad announced the expansion of the initiative: it went from $400 thousand to $600 thousand and up to 1 million pesos for workers in a dependency relationship.

“This decision improves the ability of workers credit and retirees in Argentina. We also hope that this measure will serve, in many cases, to resolve issues of debt, credit cards, and mutual insurance, which we know sometimes complicate the life of the worker,” the former official highlighted at a press conference.

Among the conditions now ineffective, the program ANSES Credits had a Annual Nominal Rate (TNA) of 29%this is a third of what was offered on the market, and with a repayment period of up to 24, 36 or 48 installments.

ANSES credits: who are those who will be affected by the measure

The resolution implies that the affected credits are those granted to:

  • “Argenta” Program: a program that was created in July 2023 and was born with the double objective of supporting the consumption needs of retirees and pensioners through accessible credit, and of repairing inequalities in access to the private credit system.

This program included retirees, pensioners, holders of AUH, disabled AUH, holders of non-contributory benefit for mothers of more than 7 children, beneficiaries of non-contributory benefits for disability, holders of non-contributory pension for the elderly (PUAM). and holders of non-contributory pension for the elderly. Also, finally, holders of Family Allowances (SUAF) and SIPA beneficiaries (workers in a dependency relationship) for up to a maximum of TWENTY PERCENT (20%) of the total assets of the FGS and holders of benefits whose liquidation or payment is the responsibility of the NATIONAL SOCIAL SECURITY ADMINISTRATION.

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