Dominican Republic's Pensions Superintendency reports DOP 53,345 million refunded to contributors and promotes complementary pension plans for independent workers

The Dominican Republic's Pensions Superintendency (SIPEN) published remarks by Superintendent Francisco A. Torres from a Finjus television interview, focusing on pension fund administration, coverage expansion and recent system initiatives. Torres highlighted mechanisms for members affected by the post-2003 framework, including refunds for those who did not qualify for a pension at retirement age, and pointed to complementary pension plans as a pathway for independent workers to join the system. Torres said pension funds are managed to minimise risk and maximise returns for affiliates, and noted that employers contribute three pesos for every peso contributed by a worker. For people who began contributing before 2003, he said the National Social Security Council (CNSS) has established mechanisms to safeguard rights and that DOP 53,345 million has been returned to individuals who reached age 60 without meeting the requirements for a pension under Law 87-01. SIPEN also reported tripling financial education training and the number of people trained in under 12 months, including a 30-minute online course accessible via mobile devices, and said exchange-rate effects are mitigated in part by allowing dollar investments to represent up to 30% of pension fund portfolios.