Pensions in El Salvador to finance Infrastructure

The Association of Retirement Plans stated that workers’ savings might be a good alternative to finance infrastructural development.

Friday, November 7, 2008

Pension laws allow the Association to invest in projects such as port, road and dam building and energy related ventures among others, says Ruth Solarzano, association President.

More on this topic

$590 million Pension Fund Going to Waste

June 2014

In El Salvador the absence of legislation enabling the investment of these funds in infrastructure projects has forced them to go abroad to find projects in Costa Rica or Panama.

While the government is looking for ways to raise revenue to fund the construction of public infrastructure, the administrators of pension funds (AFP) have already invested "...

Radical Change in Pension Schemes in El Salvador

July 2013

The Ministry of Finance is reviewing eliminating life annuities, a benefit which affects about 130 thousand people, in place thanks to a decree by the government of Elias Saca.

Elsalvador.com reports that "According to a study on pensions which the Treasury, along with other institutions, is working on, decree number 100 has cost the Government $6 billion, an amount which must be financed by Salvadoran taxpayers."

El Salvador: AFPs can Invest Abroad

April 2012

A new reform is being prepared containing the rules governing the activities of Pension Fund Administrators, seeking to improve the profitability of the contributions for all contributors.

The Salvadoran government is preparing a second reform of the law on Pension Fund Administrators (AFP), and other possible changes.

El Salvador: Profitability of pension funds drops to 3%

January 2009

The profitability of the Pensions Savings System (SAP) dropped from 6.33% to 3.14%.

Elsalvador.com reports: "There is no need to use a magnifying glass to look for the reasons. They are very clear, according to the superintendent of pensions, Victor Ramirez, and the director investments at the Crecer Pension Fund Administrator (AFP), Carlo Escalante.

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