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Santo Domingo.- Pensions superintendent Joaquín Gerónimo warned Wed. that according to current projections, 50% of those affiliated to the pension regime cannot receive a pension, because they don’t reach 200 quotas stated in the legislation requires at least 300.

"The fact is that they go in and out. It will not be enough money and the law requires a minimum of 300 quotas to gain access to the social solidarity fund. We’re trying to get that to 240, because it withstands 240," he said in a luncheon with the media.

The official also revealed that around 99% of the affiliates who registered late into the Social Security System cannot opt for retirement, because they wouldn’t have the funds to seek the minimum pension stipulated in the regime.

"There are 420,000 latecomers affiliated, and that total for 95, 97 or 99% won’t be enough, and it should be returned as it’s being given back to them, because if you follow the proportion, of 48,000 it’s been refunded to 47,988 and the pension has been given to 12," Geronimo said, referring to the number of people who’ve been refunded their money accumulated in the system.

He added that the system was created in a way that the pension that members will receive would be depleted until there’s no more left of the funds accumulated during their lifetime, and then the persons in question would have to request another  solidarity pension from the State.

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COMMENTS
5 comment(s)
Written by: foresthill, 3 Jul 2014 8:29 AM
From: Dominican Republic
Here come the truth.

Written by: Ricardolito, 3 Jul 2014 8:50 AM
From: Dominican Republic, Zona Colonial
I would hate to be administering a pension fund in this country where the opportunities for sound investments are so limited.However it may be a good idea if proceeds from the sale of assets of various criminals were given to the pension fund . I have always wondered if the proposed investment into low cost housing is a good idea,,,although I can see it may benefit the poor people who would rent at low rents .But if you look at government low rent projects in other countries they are nothing but slums
Written by: josearias, 3 Jul 2014 8:57 AM
From: United States
Okay explain to half of DOMINICAN why any state officials always gets a ridiculous pension for example 400 or 500,000 .A MONTH. PENSION....... YOU ARE PUSHING THAT HALF OF DOMINICAN TO TAKE THE LAW ON THERE OWN HANDS.
Written by: josean, 3 Jul 2014 9:46 AM
From: United States, Fighting the Dictatorship of the Narco PLD Mafia; Guillermo Moreno President 2016



Things just get better and better between the haves and the have nots in the PURPLE PARADISE that NARCO Lie-onel and the SUPER Corrupt PLD have constructed!


Written by: zooma, 3 Jul 2014 10:06 AM
From: United States, and Dominican Republic

You can guarantee the lawmakers get their pensions and then some. The heck with the little guy as long as they get theirs.

And they, the lawmakers, have no idea or concern about the risk they may face if the people finally have had enough of their dismissing the concerns of the public.

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