Social Security is chock full of money

[NewsWhore]

The nation's pension plan currently holds 3.2% of the nation's GDP, according to a report in today's Listin Diario. The huge majority of people who are contributing to the plan are below the age of 44 (83%), and there are 1.5 million people currently on the books of the social security system. According to the Superintendent of Pensions, Persia Alvarez, the SSRD pension system currently holds RD$36.5 billion. This pension money, RD$17 billion of the RD$36 billion, is deposited in commercial banks (RD$11.69 billion), savings and loan associations (RD$4.93 billion), savings banks (RD$2.37 billion, the National Bank of Housing-BNV (RD$791 million, and mortgage paper for RD$410 million. Alvarez said that the money earns an average of 13.5% per annum which is considered on a par with the national economy.

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