Argentina’s Government Prepares to Veto Pension Reform Law

Argentina’s government is preparing to veto the recently passed pension reform law, a move that has sparked a tense political standoff. The president is expected to sign the veto this Friday, with the official announcement likely to be published in the Official Gazette next week. The law, approved by a large majority in both the Chamber of Deputies and the Senate, guarantees an 8.1% increase for retirees. However, the government opposes the measure and has indicated it will challenge it in court if Congress rejects the veto. The law includes a monthly update based on the Consumer Price Index (IPC) and an additional improvement in March each year based on the average taxable remuneration of stable workers (RIPTE). Opposition factions are strategizing to reject the veto, but face the challenge of securing the necessary two-thirds majority in both chambers to override it. The future of the law and its impact on pensions remain uncertain, with the coming weeks set to be decisive in this political battle.