Economy July 31, 2019 | 7:53 am

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Dominicans’ Pension Fund tops US$10.1B, 12% of GDP

Santo Domingo.- Dominican Pension Fund Administrators Association (ADAFP) president, Kirsis Jáquez on Tues. said Social Security in the Dominican Republic is a reality and that more than 3.8 million members of the system, as well as their families, are guaranteed their rights and funds.

She said the total assets of members of the Individual Capitalization System managed by the AFP exceed RD$513 billion (US$10.1 billion), or 12% of the Dominican GDP.

“We speak of figures that highlight its good performance, as is the profitability achieved by the management of the Administrators in favor of its affiliates, which on average has generated about 50% of the total funds accumulated in the individual capitalization accounts, saving that is 100% exclusive patrimony of the AFP affiliates,” said Jáquez after a mass to mark the ADAFP’s 15th anniversary

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