The president of the Association of Industries of Herrera and the Province of Santo Domingo (AEIH) Victor Castro has described the 167% yield obtained by pension plan administrators (AFPs) as of September 2014 as shameful and tantamount to robbery.
Castro said no legal company in the DR has such high profits, and it is genuine usury when the yield workers receive on these funds is considered.
“This is simply robbery and it is almost as if employees and employers worked to the point of exhaustion to maintain lazy slackers who in this case are the pension fund managers, who receive all privileges without making much of an effort,” said the business leader.
He criticized Congress for the delay in reducing the commissions charged by the administrators that this year has represented RD$1.13 billion.
AEIH advierte rentabilidad de 167% de las AFP es un “atraco”