Dominican Republic's Pensions Superintendency (SIPEN) participated in the Senate symposium “Reforming Social Security from a Legislative Perspective”, convened to build multi-stakeholder dialogue on the challenges and opportunities of Social Security Law 87-01 and to inform a comprehensive reform spanning health, pensions and occupational risks. In a panel on sustainable pensions, Superintendent Francisco A. Torres pointed to advances in the pension system’s financial sustainability and social impact, and highlighted that implementing complementary plans could broaden coverage to informal workers who do not currently contribute. Torres also reiterated that, under an individual capitalization model, pension outcomes are directly linked to a worker’s income and the consistency of contributions. While noting that SIPEN cannot propose legislative changes, he indicated the regulator can support improvement discussions through analysis using an actuarial model acquired from the International Labour Organization, designed to compare alternative reform scenarios and assumptions.
Pensions Superintendency (SIPEN) 2025-05-09
Dominican Republic's Pensions Superintendency highlights complementary plans and actuarial modelling in Senate symposium on Law 87-01 reform
The Dominican Republic's Pensions Superintendency (SIPEN) joined a Senate symposium on reforming Social Security Law 87-01, focusing on health, pensions, and occupational risks. Superintendent Francisco A. Torres highlighted the pension system's financial sustainability and the potential for complementary plans to cover informal workers. While SIPEN cannot propose legislative changes, it supports reform discussions using an actuarial model from the International Labour Organization to analyze alternative scenarios.