2013News

Pension funds approach RD$200 billion

The country’s pension funds assets grew by 28.5% last November, compared to the same period the previous year, closing at RD$194.8 billion. There were 2.6 million affiliates to the Dominican Social Security System in November, 6.3% more than in the same period in 2011, and 1.2 million contributors, an increase of 3.3%. RD$150.7 billion of the RD$194.8 billion in the pension funds belongs to the individual capital regime, according to a report from the Superintendent of Pensions (Sipen) in November. Some RD$54 billion of the pension funds resources is handled by AFP Popular, while the AFP Reservas has RD$23.9 billion. According to the report, the AFP Scotia Crecer has the largest proportion of the 2.6 million members, with 846,862, followed by AFP Popular with 797,071. According to the statistical summary by Sipen, the AFP with most contributors is Popular with 376,499, followed by Scotia Crecer with 365,295, and the AFP Siembra with 230,093 contributors.