Three years after its creation, the fund's income exceeds $1.5 billion.
Savings accumulated by Salvadoran workers, which make up 25% of the country's GDP, have grown steadily since 1998, the year in which the Pension Savings system was created.
Despite the important growth that the regime has shown in the last two years, one of the main challenges for the pensions sector is to increase the number of members, as well as attract workers from industries such as farming, informal retail and independent professionals.
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.
PRONicaragua, is the Nicaraguan Investment Promotion Agency, established in 2002. We are a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The Agency provides complimentary support services to qualified investors seeking investment opportunities in our country.
Operates in Nicaragua
Phone: (505) 2270 6400
Caribbean-Central American Action (CCAA) is a private, independent organization that promotes private sector-led economic development in the Caribbean Basin and throughout the Hemisphere.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador, Costa Rica and Caribbean Community
Phone: (202) 331-9467
Key representative/s from the Guatemalan Exporters’ Association last 13-15 October attended the 8th TPO Network World Conference to exchange ideas and best practice around stimulating export-led economic growth and meeting the urgent challenges in the sector.