The reasons that explain why the RIPTE salary index increased in April almost twice as much as inflation

For the parity increases and the 27.39% increase in the salary cap for contributions to Social Security, in April the RIPTE – which is usually taken to reflect the average income of formal workers– had an increase of 16.1%, almost double the 8.83% inflation of that month.

The RIPTE (Taxable Remuneration of Stable Workers), released on Friday, is calculated on the formal salaries with contributions to Social Security. And the salary cap for those contributions rose from $1,471,616 in March to $1,874,839 in April, an increase of 27.39%. The salary cap accompanies pension mobility what a quarterly It became monthly.

By measuring the variation in salaries only up to $1,874,939, the average salary reported by RIPTE is lower than a possible total real average. This is because It leaves out nearly a million people who earn more than the cap.

Consequently, 16.1% incorporates the effective salary increases agreed upon in joint negotiations and granted by employers, increased by the increase in the cap that, if the previous formula had been maintained, it would not They would have been adjusted in April if not in June.

Thus, there could have been a case of a worker who maintained the same gross salary in April as in March, but when the discount limit increased, he had a lower out-of-pocket income because more was deducted for Social Security.

In this way, “it is feasible that in different periods of time, a typical indicator to evaluate salaries such as the average salary of the private registered employment present different variations to RIPTE”, points out Social Security And it is one of the reasons for the differences with the INDEC Salary Index, which is a survey.

This clarification of Social Security is more relevant because it is the first month in which the adjustment was changed from quarterly to monthly.

The average taxable salary of the RIPTE was $819,501.72 in April versus $484,298.40 in December 2023. Thus, in four months, The RIPTE had a nominal increase of 69.2% (14.7% January, 11.5% in February, 14% March and 16.1% in April) versus an inflation of 65%.

In 2023, RIPTE salaries closed with an average that went from $194,175.11 in December 2022 to $484,298.40 in the same month of 2023. It represented an increase of 149.4% versus an inflation of 211.4%, largely reflecting part the loss of mobility due to rising prices.

This fall occurred with greater force after the August devaluation of the previous Government and the spike in inflation, which was accentuated in December with the devaluation of the current Government and the sharp rise in prices.

The RIPTE considers the salaries of jobs in the private sector and the national, provincial and municipal public sector that transferred their pension funds to the SIPA-ANSeS, as described by the Secretariat.

Besides, only quantifies the remunerative components of the salary (taxable to the social security system).

NE

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