Progress is being made for the approval of a bill to authorize the use of 40% of the Pension and Retirement Funds of the Magisterium, equivalent to $1,492 million, to finance public works projects.
From a statement issued by the Board of Pensions of the National Magisterium:
Unanimously, the Committee on Financial Affairs at the Legislative Assembly approved the project to expand the scope of investment fund for the Collective Capitalization Regime (RCC) administered by the Pension Board.
The interest rate that the Government of El Salvado pays for money from the Pension Funds is not more than 1.3%, while international investors are paid more than 7%.
Ricardo Soriano, Chairman of the Committee for the Defense of Workers Pension Fund of El Salvador (Comtradefop) reported that since the year 2006, the State has forced the Pension Fund Administrators (AFP) to invest the money belonging to Salvadoran workers in Pension Certificates, initially 30% and the 45% in 2012, money which has suffered a loss greater than $938 million each year.
Nicaragua's microfinance companies will start a retirement plan program for micro businessmen and producers who do not have social security.
Laprensa.com.ni reports: "In order to meet the needs of the population without social security protection, from 2005 the Microfinance Network of Central America and the Caribbean (Redcamif) began to devise a plan that would guarantee pensions for microentrepreneurs and small growers who receive credit from institutions within the network: the Programmed Retirement Plan ".
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Xpand Group offers to its clients global support in exports. With its network, the company gives access to small and medium enterprises to new markets such as: North America, Central America & Europe
Operates in El Salvador, Costa Rica, Guatemala, Honduras, Nicaragua and Panama
Phone: (506) 2225-0435 - (506) 2524 2800
As a Holding Company we are interested in helping other companies to succeed. We do that by investing in other companies with capital and or professional help to allow them to grow in exchange for ownership.
Operates in Panama and Panama
Phone: (507) 7202158
Represents the Company RTS INTERNATIONAL, Inc. of Kansas Cyty, TX, USA, for the territory of Guatemala and Central America. RTS finance exports through Factoring system.
Operates in Guatemala
Phone: (502) 2369 5408 - (502) 5709 2986