The Minister of Economy, Sergio Massa and the executive director of Anses, Fernanda Raverta, announced this Tuesday new loans from that agency of up to $400,000 for retirees and pensioners, with a Current Nominal Rate (TNA) of 29%, the lowest in the market, in an act held at the agency’s headquarters.
In this way, retirees from the Argentine Integrated Pension System (SIPA) will be able to access loans of up to $400,000 and holders of Non-Contributory Pensions (PNC), of up to $150,000. Regarding the terms of the new credits, in all benefits the possibility of selecting the return in 24, 36 or 48 shares.
Massa stressed that the loans for retirees are aimed at “take care of our internal market”since this sector “He does not make cash with liquidation, he does not buy future dollars or trade in shares, the retiree consumes and moves the internal market“.
The official pointed out that “what is coming forward is much better” than what the country is “leaving behind” and affirmed that the Government has “firmness, courage and the will to build that Argentina that respects and gives quality of life to its elders”.
“We know that the context is difficult, that we still have problems to solve, we are not ignoring them, we are working permanently to try to alleviate or solve these problems,” he said in the presentation of the new Anses credits.
When referring to the fixed rate at 29% per year, the official placed special emphasis on highlighting that “It beats inflation, which is another great task that we have ahead of us.”
“In this same room I had to announce the return of 13% back in 2003; in 2001, people who erase with their elbow what they wrote with their hand cut retirees”said Massa at the Anses headquarters.
Likewise, the official highlighted that the Sustainability Guarantee Fund (FGS) went from being worth US$ 35,000 million in 2019 to US$ 60,000 million today. “The system has support to protect and care for retirees” and of that sum “$50,000 million will be assigned” to the line of credit at a fixed rate of 29% per year, he explained.
The credits must be managed in person at the Anses offices with prior shift from the day of the date.