The Salvadoran Association of Pension Funds has asked for changes in legislation to be made firm in order to increase the profitability of the savings of workers.
The Salvadoran Association of Pension Funds (Asafondos) asked President Mauricio Funes to keep his promise to carry out a second part of reforms to the pension system.
Funes offered to make the changes last month in order to raise the profitability of pension funds in light of strong criticism of the low returns paid on the contributor’s savings, reported Elsalvador.com.
The Association of Retirement Plans stated that workers’ savings might be a good alternative to finance infrastructural development.
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.