The president of the Dominican Federation of Merchants (FDC), Ivan Garciapleaded this Thursday for the investments of the Pension funds continue to diversify “in an effort to increase their profit margins”.
García considered that in this way the administrators of these resources would be able to increase the amount of pensions and continue consolidating the Dominican Social Security System (SDSS), reports a press release.
The main leader of the entity that brings together various organizations of organized commerce, understands that the AFPs and the Superintendence of Pensions should be more “aggressive” in the investment of the savings they manage in an attempt to increase their profit margins.
“It is not just investing in the papers of the Central Bank, we understand that the Pension funds have to be more aggressive investments that it does, including, for example, if hotels right now is an attractive business, well, we are going to invest the money in hotels, so that in this way they can obtain greater benefits for the affiliates”, he said.
He argued that part of the Pension funds They should have been invested in the Punta Catalina thermoelectric plants, because they assured that they would generate an important level of profit that they are profitable.
“That and other types of investmentsas in the hotel sector, is profitable, and that would be a way to guarantee an increase in the savings that workers have in the AFPs, which would translate into an improvement in the amount of pensions,” emphasized the president of the Dominican Federation from Merchants.
He also supported the investments on Dollars What have the administrators been doing? Pension funds (AFP), given the profitability of doing so in hard currency.
Likewise, the representative of the commercial sector in the country, favors the integral modification of the Law through which the Dominican Social Security System was created.
García understands that this legislation, whose regulations date back more than 20 years, needs to be readjusted to the new application requirements, and in this sense he recalled that the main commercial and union entities submitted to the Economic and Social Council their suggestions regarding the points they understand should be modified.
