ARG GVT Subsidies for Pensions

On Jan. 13, ARG GVT issued clarification on subsidies inĀ pension.

  • Communication b 11928/2019 on content of decree 73/19, clarification re its art 7.
  • Overview
  • Re art 7 of said decree the extraordinary subsidies granted under that provision are not subject to any discount, not appropriate to deduct any items from these benefits.
  • I.e. any type of concept, whether for transactions arranged with paying financial institution itself or with 3rd parties e.g. loan installments granted with discount code.
  • Commissions or charges for additional services to account contracted by beneficiary, automatic debits for payment of taxes, services, other concepts, etc.
  • Effectiveness
  • Financial institutions must put in place means for immediate reimbursement of totality of amounts discounted in contravention to content of above-mentioned art 7.

Regulators ARG GVT
Entity Types CNSM; Pension
Reference OG, Com B 11928/2019, 1/13/2020; Com B 11928/2019, 12/30/2019
Functions Compliance; Financial; Legal; Operations; Treasury
Countries Argentina
Products Payments; Pensions
Regions Am
Rule Type Final
Rule Date 1/13/2020
Effective Date 1/13/2020
Rule Id 70235
Linked to
Reg. Last Update 1/13/2020
Report Section International

Last substantive update on 01/14/2020