NewsWhore
03-03-2010, 02:20 PM
The National Council of Social Security (CNSS) has announced that at least RD$14 billion of the RD$95 billion accumulated in pension funds have been cleared for investing in bonds issued by the government. Bienvenido Martinez, the recently appointed general manager of the CNSS said that Labor Minister Max Puig had issued CNSS Resolution 232-02 that authorizes the placement of the retirement funds in the bonds that are guaranteed by the Dominican government in local or foreign currency. Martinez said that at least 15% of the retirement fund money could be invested in the bonds. Employees in the DR contribute approximately 10% of their wages to the fund, split between 7.12% paid by the employer and 2.88% by the employee, as reported in Listin Diario.
More... (http://www.dr1.com/index.html#4)
More... (http://www.dr1.com/index.html#4)