Labor: a severance fund (FAL) may replace the dismissal payment

Decreto 408/2026 regulates Title II (Labor Assistance Fund, FAL) of the Labor Modernization Ley 27.802 It creates a new severance system via individual capitalization funds administered by CNV-authorized entities, replacing the traditional severance-pay regime. verif · Jun 1, 2026 ↗

The FAL takes effect on 11/01/2026 (art. 27 of Decreto 408/2026). The contribution is paid from the November 2026 accrual period inclusive, together with the monthly social security return (F. 931). Before filing the November return, each employer must declare whether it is in the public or private sector, and private employers must report their fund code (ID FAL) before paying the first contribution. If they do not report it, ARCA holds the contribution until the CNV assigns them a fund ex officio. The CNV vehicles can already be set up: their rule has applied since Sep 18, 2026. verif · Nov 1, 2026 ↗

Private-sector employers (except relationships excluded by the law and the public sector). The monthly contribution is 2.5% of payroll for micro, small and medium-sized companies and non-profit entities, and 1% for all other private employers, and it is deducted from employer contributions. Being small is not enough to pay 2.5%: a valid MiPyME certificate for the period and listing as an SME in the ARCA registry are required, and among medium-sized companies only brackets 1 and 2 qualify. On the other side are those who manage the money: mutual fund management companies with at least one active fund, trustees with at least one publicly offered trust, and banks, with a cap on expenses and fees of 1% a year on assets managed. ARCA, the CNV, ANSES and the Labor Secretariat are involved. verif · Oct 1, 2026 ↗