AMLO announces increase in pension for older adults

The president of Mexico, Andrés Manuel López Obrador (AMLO), announced this Sunday an increase in the pension for the elderly provided by the federal government.

Specifically, the pension for the elderly will be delivered from 65 years of age, three less than 68, as is the case now.

In a visit to Guelatao, Oaxaca, López Obrador said that the amount of the pension for older adults will increase in the following years until it reaches 6,000 pesos every two months in 2024.

This year, Mexico will hold intermediate federal elections in which it will be defined, among other aspects, whether the party of López Obrador (Morena) and its allies maintain a majority in the Congress of the Union.

«In accordance with our economic possibilities and seeking to improve the situation of pensioners, retirees and older adults in the country, I have made the following decision: the universal pension for older adults will be delivered from 65 years as is done when it comes to the indigenous population; (…) It will gradually increase until it reaches double at the beginning of 2024 ”, said the President.

Pension for the elderly

López Obrador added that this plan will start from July of this year with an increase of 15 percent.

In January 2022 and until 2024 it will be 20% plus inflation.

López Obrador also reported that the annual budget to fulfill this purpose will go from 135,000 million pesos to 240,000 million in 2022; in 2023, to 300,000 million and in 2024 it will reach 370,000 million.

In this way, the federal government reported, 10 million 300,000 older adults will benefit.

«The resources will come out of the public budget without increasing the debt or taxes and without gasoline,» said López Obrador.

He added that the measure increases the annual budget for seniors from about $ 6.486 million this year to $ 17.777 million in 2024, the last of the leftist president’s term.

“These resources will come from the public budget, without increasing the debt or taxes and without gasoline. It is basically what is obtained by savings from the Juarista republican austerity, since the criterion will continue to be applied that there should not be a rich government with a poor people and that corruption must be completely banished,” he said.