Pensioner's Day in Argentina

The Pensioner's Day was born at the beginning of the 20th century. It was on September 20, 1904, when Law 4.349, known as the first retirement law, was passed during the presidency of Julio Argentino Roca.

That law established a pension benefit for public employees of the national government and thus provided for the creation of the National Retirement and Pension Fund, which became the first instrument that granted an income to workers retired from their jobs due to old age.

As the years went by, the benefit was extended to other activities and unions such as aeronautics, banking, journalists, graphic workers, among others. In 1954, during the government of Juan Domingo Perón, the system was changed from an individual capitalization system to a pay-as-you-go system, which operated until 1994, when the Integrated Retirement and Pension System was created through a pension reform.

Under this system, private companies could manage the funds coming from workers' individual contributions. Finally, in 2008, during the government of Cristina Fernández de Kirchner, Law 26.425 was enacted, which gave way to the public and mandatory pension system that still operates today.