Diario Libre published on 30 December 2019 an update on the high profits earned by the pension plan management companies Crecer, Popular, Reservas, Romana, Siembra. They are the five of seven companies that are authorized to manage pension plan funds. Two others, Atlántico, JMMB-BDI are newcomers to the system.
Diario Libre reports the five pension plan companies’ net profits reached a little over RD$5,19 billion, which means that the total net profits were 54.3% of their total income. Diario Libre sums up: “In other words, it is as if you invest a certain amount for a business, and in seven months, you have recovered more than half of the capital.”
Diario Libre points out the pension plan companies have only approved 9,206 pensions for relatives of the deceased members of 22,570 applications for survivor’s pensions, equivalent to 40.4%.
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30 December 2019