Reimburse % of pension fund to workers?… inviable

Santo Domingo.-  The bill that seeks to reimburse a percentage of the pension fund to workers continues to stoke controversy. On Tuesday the Employers’ Confederation of the Dominican Republic (Copardom) announced that the piece “is not viable.”

It also indicates that contrary to its objectives, “it would imply breaking with the monetary, exchange and price equilibrium that have constituted the angular basis of the macroeconomic stability exhibited by the country.”

“Any change to legislation that creates the Dominican Social Security System must maintain the tripartite spirit present in Law 87-01, its origins and partner labor regulations,” the entity said in a press release.

“Copardom, just as the Dominican Association of Pension Fund Administrators (ADAFP) recently did, proposes that bills such as the one that approves the early withdrawal of up to 30% of the funds accumulated by workers in their AFP, ‘they must be deeply analyzed and debated by each and every one of the social partners without the environment, environment or political situation influencing these discussions.”