The Pension Plans Superintendence (SIPEN) has approved the operation of the AFP Atlantico, S.A. and the AFP JMMB BDI, S.A. for the management of pension plans. AFP JMMB is a subsidiary of a Jamaican finance company that is known in the Dominican Republic for its money market brokerage operations since 2006.
The Dominican Pension Plan System was created in 2004 and will now have seven authorized pension plan companies, known as AFPs, to manage the 593,286 affiliates registered in the system as of 31 December 2015.
