Retirement Day: Why is it celebrated today, September 20?

In Argentina, Retiree’s Day celebrates retired workers since 1904 (Illustrative Image Infobae)

Every September 20th, Argentina celebrates Retiree’s Day, a day dedicated to recognizing and honoring those workers who have left the active working life. The commemoration of this date has a historical origin that dates back to the beginning of the 20th century and continues to be relevant today.

Retiree’s Day is celebrated in commemoration of the passing of Law 4,349, which took place in 1904 during the presidency of Julio Argentino Roca. This law is significant because it represented the first attempt to recognize and protect public employees who retired from work due to advanced age. At that time, the law exclusively benefited officials, employees and civil agents of the national State.

To implement this law, the National Civil Retirement and Pension Fund was created. This body was tasked with managing the funds and offering benefits to those workers who met the established requirements. Law 4,349 laid the foundations for the country’s social security system and marked the beginning of social policies in Argentina.

Law 4,349 of 1904 protects retired public employees (Illustrative Image Infobae)

The Argentine pension system establishes certain basic requirements for citizens to be able to access retirement:

• Minimum age: 65 years for men and 60 years for women.
• Years of contributions: it is necessary to have contributed for at least 30 years.

There are, however, some variations and exceptions depending on the type of employment and the characteristics of the workers:

• Retirement for disabled workers: applies to those with a significant physical or intellectual disability, who can retire at age 45 with 20 years of contributions.
• Retirement due to advanced age: for men and women aged 70, with at least 10 years of contributions.
• Disability retirement: granted to people with a physical or intellectual disability greater than 66%, regardless of age or years of contributions.

To begin the retirement process with the National Social Security Administration (ANSES), applicants must complete certain forms, verify their contributions and request an appointment at an ANSES office, bringing the corresponding documentation.

The Argentine pension system requires 30 years of contributions for retirement (Illustrative image Infobae)

In September 2024, retirees and pensioners in Argentina received an increase in their pensions, following the update according to the Consumer Price Index (CPI). This increase was 4.03%, corresponding to the inflation recorded in the month of July.

For the month of September 2024, the updated values ​​are as follows:

• Minimum retirement: $234,540.23, plus an additional bonus of $70,000, bringing the total to $304,540.23.
• Maximum retirement: $1,578,234.
• Universal Benefit for the Elderly (PUAM): $187,632, plus a bonus of $70,000, totaling $257,632.
• Non-contributory Pensions (PNC): $164,178, with the same bonus of $70,000, totaling $234,178.

The extraordinary bonus of $70,000 continues to be distributed month by month with new decrees that renew it, and benefits those whose income is less than or equivalent to the minimum retirement.

Retirement Day in Argentina is more than just a commemorative date; it is a recognition of people who have contributed to the development of the country throughout their working lives. Through modifications and adaptations to the pension system, the aim is to ensure a dignified old age and protect older adults from economic vulnerability.