The Central Bank of Cuba has published an update on an experimental approach to paying Social Security pensions and retirement benefits via participating commercial establishments, aiming to reduce beneficiaries’ need to travel to bank branches. The pilot is being implemented under the Bank’s leadership with Banco Metropolitano (BANMET), the Government in Havana and the Ministry of Labour and Social Security. During the 14–17 April payment period, the Bank reported a successful rollout at the Mipyme MEC S.U.R.L. in Playa, where staff delivered cash directly to beneficiaries’ homes, paying 58 people on the first day of the pilot’s first stage and disbursing pensions in full. Commercial establishments that want to participate are expected to apply through BANMET, which would contract them as banking agents; applicants must have merchant codes for Transfermóvil and Enzona, which can be requested via Joven Club offices if not already held. The measure remains in a pilot phase, initially focused on small population groups in the Cuban capital, with a gradual extension to the rest of the country expected in the coming months based on lessons from the first stage.
Central Bank of Cuba 2026-04-16
Central Bank of Cuba pilots pension payments through commercial banking agents in Havana
The Central Bank of Cuba reported on a pilot scheme to pay Social Security pensions and retirement benefits through participating commercial establishments, reducing the need for beneficiaries to visit bank branches. The first stage, implemented with Banco Metropolitano, the Havana Government and the Ministry of Labour and Social Security, includes home cash delivery and the use of commercial entities as banking agents, initially for small groups in Havana with gradual expansion planned based on pilot results.