The CNSS will return pension money;  who applies?

The CNSS will return pension money; who applies?

The National Social Security Council (CNSS) modified a resolution that has existed since August 2014 and yesterday announced the approval of Resolution Number 545-01, which authorizes the return of RD$7,000 million to just over 25,000 workers.

They are workers who, due to the age at which they entered the system created by Law 87-01, on Social Security, did not qualify to receive a pension, as explained. The information was offered at a press conference by the president of the CNSS, Luis Miguel De Camps García.

“The approval of the resolution is based on the favorable report issued by the Permanent Commission of Pensions of the Council last Monday, June 13, it was reported at a press conference in which representatives of the union sector and employers or the employer.

In 2014, a resolution taken by the CNSS (La number 350-02 of August 28 of that year) in the first device of title I, on the return of old-age, disability and survival insurance contributions due to late entry, established a regime of exceptions for the return of the accumulated balance of the individual capitalization of affiliates who have entered the individual capitalization system of the contributory regime with more than 45 years of age.

Part of the requirements that it included was that of having an age equal to or greater than 60 years, being unemployed and having entered the system with more than 45 years.

“De Camps informed the journalists (some followed the act virtually) that the report – which was discussed yesterday – was the result of a careful analysis of the applicable regulatory part by the commission and arises from the concern of the president and counselors, who sought to be able to benefit thousands of workers who were affected by the situation.

The Minister of Labor also highlighted that this resolution will have a positive and immediate impact on more than 25,000 workers in the Dominican Republic, who were in a legal limbo, in relation to the return of their contributions.

“This resolution creates a legal precedent that will allow many workers to enjoy this benefit who, each year, fall into this situation for having reached the age of 60 without having the contributions required by law to enjoy a pension” , he pointed.

According to Law 87-01, the requirements for those affiliated with the Social Security System to enjoy this benefit are to be 60 years of age or older and have at least 360 contributions.

The resolution revised the method of calculating age and establishes the broadest and most inclusive method, to be considered late admission, which is 45 years of “age at next birthday”, which assumes that each individual, upon passing each birthday, begins to go through the next age.

It was reported that the resolution benefits the affiliates, as they do not have to face unnecessary bureaucratic obstacles, which were eliminated by the resolution, in order to facilitate workers’ access to their rights.

A “knocked-up” topic

In the resolution of August 2014, in which an exception regime was established so that affiliates admitted to the pension system with an age equal to or greater than 45 years (and who were over 60, plus being unemployed), could attend to his AFP to seek the return of his funds, it was clear that the delivery of the money will be made in a single payment (in one fell swoop, as it is popularly said), plus the interest earned.

In this way, the CNSS gave rise to an issue that generated great debate in the country, since the newspaper elCaribe published on June 12 of that year another resolution, 356-13, issued by the Superintendence of Pensions (Sipen), which had to be issued in turn as a result of Resolution 126-14 (of 2005), which limited the return in a single payment of the money accumulated by workers who started contributing late, at the time they retired.

“They made it difficult for people”

The scheme was so complex and unfair at that time that it disenchanted many workers who made extraordinary contributions to benefit from the performance paid by the pension fund administrators.

In the 2014 resolution, the CNSS also authorized, in a consensual manner among the sectors with representation in the body, to return to contributors the old-age, disability and survival insurance contributions due to late entry and terminal illness.

The CNSS established that with the current modification of Resolution 350-2 in the first device, title 1, on the regime of exceptions for refunds of old-age, disability and survival insurance contributions due to late entry into the individual capitalization system of the contributory regime , it is sought that from now on establish that the return regime will be carried out so that people can opt for the withdrawal of the partial or total accumulated balance of their individual capitalization accounts, without prejudice to the fact that they are receiving some benefit contemplated in the insurance. of old age, disability and survival, as well as that they meet a series of requirements, such as age equal to or greater than 60 years.

It has nothing to do with the 30% that is requested

To opt for the refund, the person must meet requirements such as being over 60 years old, unemployed for the last 30 days, being affiliated with a pension fund manager and having entered the pension system late. The CNSS has been reiterative, in the resolution and in the verbal details offered, possibly to avoid confusion and to avoid “fishing in rough seas” by people who have come since the beginning of the pandemic advocating a general return of 30% of the Pension funds.

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