NewsWhore
01-19-2007, 07:00 PM
Pension funds yield was 11.5% last year, or 6.5 points above inflation. The Central Bank reported that inflation ended the year at 5%. Nevertheless, the yield would have been higher if the National Social Security Council (CNSS) had authorized new categories for investing the funds. The CNSS is made up of representatives from the Ministry of Labor, employers and workers. A study by Superintendence of Pensions (Sipen) technicians shows that the pension funds could have had yields of 20% if the funds had been invested in Central Bank certificates, or RD$2.59 billion more. Superintendent of Pensions Persia Alvarez said that this year her department would lobby to create the necessary instruments to diversify the funds into more productive areas. These are currently deposited in commercial banks and savings and loans associations. Alvarez also favors the funds being used to build highways and other infrastructure works under private concessions.
Dominican workers have deposited RD$33.5 billion in the pension plan funds, or 3.8% of the Gross Domestic Product.
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Dominican workers have deposited RD$33.5 billion in the pension plan funds, or 3.8% of the Gross Domestic Product.
More... (http://www.dr1.com/index.html#2)