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View Full Version : Social Security has a lot of money



NewsWhore
05-10-2011, 02:50 PM
Yesterday marked the beginning of the law on Social Security (Law 87-01) that reached its tenth year, and has, as a number, the fact that since February 2001 its members have contributed RD$171.2 billion. Of this money, according to the general manager of the National Council for Social Security (CNSS), Rafael Perez Modesto, the government has contributed RD$12.8 billion while the rest is the result of payroll deductions. The official also estimated that the total deposited in pension funds is around RD$125 billion.

According to a report in Diario Libre, there has been real progress in terms of raising funds and also in terms of investment. "We propose now to increase this because social security is a benefit for all, not exclusive, and that is the motto", said the official. He estimated that 46% of the Dominican population is affiliated to Social Security, of which some two million are in the payroll deduction system and 2.8 million are in the subsidized system. Perez Modesto was speaking in the Cariatides Room of the Presidential Palace during an event commemorating the tenth anniversary of the launch of the Social Security system. The event also marked the start of Social Security Week.

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