Deputies approve lowering earnings of AFPs from 30% to 15%
They will modify Law 87 - 01 which creates the Dominican Social Security System
Diario Libre
SANTO DOMINGO. Yesterday the Chamber of Deputies declared the legislative proposal for the law that will modify Law Num. 87 - 01 which created the Dominican Social Security System to be urgent and approved it in two consecutive sessions, in order to reduce the earnings of the Pension Fund Administrators (AFPs) from 30% to 15%.
The decision was adopted unanimously in the first session with 122 votes in favor and in the second session with 108 votes. The legislative proposal should now be approved in the Senate.
Deputy Ramon Cabrera, chairman of the permanent commission for Planning and Development of the Lower Chamber, recalled that although the law establishes earnings of 30%, administratively these companies decided to lower their benefits to 25%.
He explained that the initiative that was approved was the same which expired in the Senate.
The legislative proposal assigns in article 2 which will modify paragraph "b" of article 86 of the cited law in order that it reads in the following manner: "a yearly complementary commission applied to the administrative funds of up to fifteen percent (15%) of the earnings obtained above the interest rates of the certificates of deposit, of the entities of financial intermediation."
Also, the legislation includes pensioners in the Family Health Insurance in order that they receive protection and health services immediately. They indicate that the maximum age of the table of mortality that is established in order to calculate the amount of pensions will not be more than 90 years. The President of the Lower Chamber, Abel Martinez, asked the Special Commission, appointed to study the modification of this law, to provide follow-up in the Senate until it becomes law.
He noted that they had to change the legalization of what was called "a large-scale fraud" against the Dominican worker.
The proposal that was approved in the Chamber of Deputies was submitted by legislators Ramon Cabrera and Nestor Cruz Pichardo.
Initiatives
In addition, the Chamber of Deputies declared the legislative proposal by which they created Justices of the Peace in the municipality of San Antonio de Guerra and in the municipal district of Hato Viejo, in the province of Santo Domingo to be urgent and they approved it in two consecutive readings.
They also approved unanimously a resolution to grant a certificate of recognition to the dedicated Dominican Doctor, José Joaquin Puello Herrera, for his work in medicine and sports, conferring upon him the title of "Living Legend of Dominican Medicine."
The decision was adopted unanimously in the first session with 122 votes in favor and in the second session with 108 votes. The legislative proposal should now be approved in the Senate.
Deputy Ramon Cabrera, chairman of the permanent commission for Planning and Development of the Lower Chamber, recalled that although the law establishes earnings of 30%, administratively these companies decided to lower their benefits to 25%.
He explained that the initiative that was approved was the same which expired in the Senate.
The legislative proposal assigns in article 2 which will modify paragraph "b" of article 86 of the cited law in order that it reads in the following manner: "a yearly complementary commission applied to the administrative funds of up to fifteen percent (15%) of the earnings obtained above the interest rates of the certificates of deposit, of the entities of financial intermediation."
Also, the legislation includes pensioners in the Family Health Insurance in order that they receive protection and health services immediately. They indicate that the maximum age of the table of mortality that is established in order to calculate the amount of pensions will not be more than 90 years. The President of the Lower Chamber, Abel Martinez, asked the Special Commission, appointed to study the modification of this law, to provide follow-up in the Senate until it becomes law.
He noted that they had to change the legalization of what was called "a large-scale fraud" against the Dominican worker.
The proposal that was approved in the Chamber of Deputies was submitted by legislators Ramon Cabrera and Nestor Cruz Pichardo.
Initiatives
In addition, the Chamber of Deputies declared the legislative proposal by which they created Justices of the Peace in the municipality of San Antonio de Guerra and in the municipal district of Hato Viejo, in the province of Santo Domingo to be urgent and they approved it in two consecutive readings.
They also approved unanimously a resolution to grant a certificate of recognition to the dedicated Dominican Doctor, José Joaquin Puello Herrera, for his work in medicine and sports, conferring upon him the title of "Living Legend of Dominican Medicine."
Diario Libre
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