In a television interview, Dominican Republic Pensions Superintendent Francisco A. Torres outlined the main results of an evaluation of a draft update to the Dominican pension system. The proposal would gradually increase contributions over eight years, strengthen complementary pension plans to promote voluntary savings and add a longevity insurance component. Torres said the draft amendments to Law 87-01 are not final and are being discussed with different sectors. Torres said the pension design should be recalibrated so accumulated savings are expected to last 20 years after retirement, based on actuarial studies and international experience. For people who live beyond age 80, the proposal would add longevity insurance funded through monthly deductions. He also highlighted complementary pension plans already offered through pension fund administrators, which allow voluntary contributions with tax benefits and may be used for a first home, higher education or medical emergencies, including accounts opened for children from birth. In the event of a member's death, accumulated funds would be returned to legal heirs. Torres also said future changes would allow Dominicans living abroad to transfer their pension funds digitally to individual retirement accounts in their countries of origin. The proposal remains at the draft stage and is still being socialized with stakeholders.
Pensions Superintendency (SIPEN)2026-06-15
Dominican Republic Pensions Superintendency outlines draft pension reform with phased contribution increases and longevity insurance
In a television interview, the Dominican Republic Pensions Superintendency outlined a draft pension reform that would raise contributions gradually over eight years, expand complementary pension plans and introduce longevity insurance. The proposal also points to a 20-year post-retirement payout horizon, with insurance coverage suggested for those living beyond age 80. SIPEN said the draft is still under discussion and is not final.