Dominican Republic pension fund tops US$9.5B

Santo Domingo.- The Pensions Superintendence (SIPEN) revealed Wed. that the funds in the Dominican Pension System continue to grow, topping RD$455.3 billion (US$9.5 billion) by March 31.

Of that amount, some RD$413.2 billion is invested in different instruments, with the government, through the Bank and Central and the Finance Ministry, capturing more than 72% of the pie.

The report shows that RD$187.3 billion of the pension fund is deposited in the Central Bank, or 45.32% of the portfolio, while RD$111.0 billion in the Ministry of Finance, or 27%.

It says that the rest of the investment is spread among various entities such as banks (RD$86.4 billion, or 20.9%), in debt securities of private companies (RD$14.6 billion or 3.6%), and In savings and loans (RD$10.5 billion, or 2.5%), among others.

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