Bill Seeks to Reduce AFP Commission to 0.40% and Raise Pensions
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On Tuesday, Rogelio Alfonso Genao, spokesman for the Christian Social Reformist Party (PRSC) congressional bloc, submitted a bill to reform Law 87-01, which creates the Dominican Social Security System, with the aim of improving pensions and reducing the costs of administering Pension Fund Administrators (AFPs). [...]
Santo Domingo.- The draft reform of the Social Security Law submitted by legislator Rogelio Alfonso Genao proposes to gradually reduce the maximum commission of Pension Fund Administrators (AFPs) to 0.40% in 2036, to establish limits on the expenditure of the AFPs and the ARSs, and
Santo Domingo.- The draft reform of the Social Security Law submitted by legislator Rogelio Alfonso Genao proposes to gradually reduce the maximum commission of pension fund administrators (AFPs) to 0.40% in 2036, to establish limits on the expenses of AFPs and ARSs, and to extend health coverage [...]
On Tuesday, Congressman Rogelio Alfonso Genao deposited a bill that seeks to halve the earnings of pension fund administrators (AFPs) and ensure that workers receive a pension equivalent to between 60% and 70% of the salary they earned.The legislator of the Christian Social Reform Party (PRSC) explained that the initiative seeks to improve workers' pensions according to the wages for which they contributed.According to him, workers currently rec…
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