The INPS converted the voluntary pension funds, which covered 3% of the total population, into a compulsory system for all employees, effective January 1, 1945, and thus became the first universal social insurance system in Argentina. The INPS became the first social security agency in ArgentinaĪn initiative by Juan Atilio Bramuglia, chief counsel for the Unión Ferroviaria (at the time the most important union in the CGT), and by Labor Secretary Juan Perón, promoted the Labor Department to a cabinet-level post and, in 1944, established the National Institute for Social Insurance (INPS). Juan Atilio Bramuglia, the first director of the INPS. The increase in deductions and subsequent economic recovery allowed further expansion of pension coverage, with funds established in 1939 for port and newspaper employees. The great depression seriously weakened these funds, and the Civil Service Fund alone suffered a deficit of over twenty times its reserve by 1931. He failed, however, to do likewise for retail workers, whose employers staged a lockout, and succeeded in scuttling the reform. Retirement funds were thus established for railroad employees in 1921 for those in public services in 1922 and for banking and insurance employees in 1923. President Hipólito Yrigoyen, elected in 1916, pursued the extension of these benefits to workers in other sectors. The act, one of the first of its kind in Latin America, provided retirement and disability benefits to government employees and created the Civil Retirement and Pension Fund, enrollment in which was voluntary. The first official social security system in Argentina was established by Law 4.349, signed by President Julio Roca in 1904. Mutual aid societies that provided disability and pension benefits to members were established throughout the nineteenth century by guilds, as well as by immigrant associations these latter included Unione e Benevolenza and the Asociación Española de Socorros Mutuos. These benefits would later be extended to veterans of the Argentine War of Independence and later conflicts. Social security was first implemented in what today is Argentina in 1785, when the Viceroy of Río de la Plata, Nicolás del Campo, enacted bereavement benefits for widows and orphans of Navy personnel. The ANSES issues a Código Único de Identificación Laboral (Labor Identification Code) to all registered workers covered under the Public Pension System (SIJP). The agency maintains a stabilization fund, the Sustainability Guarantee Fund (FGS), which held approximately us$46 billion in a variety of financial instruments as of December 2011, of which 58% was held in government securities, 14% in productive investment, 12% in time deposits, and 9% in the Buenos Aires Stock Exchange. Expenses include social security payments (63%), transfers to provincial and other pension funds (20%), family assistance (12%), and the netbook program (2%) administrative expenses were around 2%. The ANSES is funded by an 11% withholding tax rate and payroll taxes (56%), as well as by a share of value added and other tax receipts (22%), contributions from the national budget (17%), and interest receipts (4%). Other recent programs include Conectar Igualdad, which envisaged the purchase of 3 million netbooks for secondary school students and teachers and, a subsidized mortgage initiative for moderate income borrowers largely shut out of the nation's tight credit market. The program was budgeted at around us$2.5 billion for 2011 (6% of the total). The benefit, 340 pesos (us$70) a month per child, is assigned to 3.6 million children under age 18 (30% of the nation's total), and includes the deposit of 20% of the check in a savings account accessible only upon certification of the child's vaccination and enrollment in school. The most important poverty relief program administered by the ANSES is the Asignación Universal por Hijo (Universal Childhood Entitlement). Argentines in the labor force earning less than 5,200 pesos (us$350) monthly, are entitled to benefits upon marriage pregnancy, birth, or adoption of a child for maternity leave or prenatal care and for a disability in a child or spouse, as well as to a modest unemployment insurance benefit for up to 6 months. Around 95% of Argentine senior citizens (5.7 million) receive ANSES pensions, whose amount is adjusted semi-annually. The majority of Argentina's public social programs, aside from those related to health and housing, are administered by ANSES.
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