2003News

AFPs have 754,087 members

One and a half million employees have signed on to the pension fund programs (AFPs) and over half of those are definitely on board, according to superintendent of pensions Persia Alvarez. In a special report for El Caribe newspaper, Alvarez defines the scheme as ?a success?, having generated RD$185.7 million in contributions from employers and employees to date. These funds will be divided between a range of budgets for its disabled, low-income, elderly and unemployed claimants, and the administration of the social security scheme. The eventual aim is to include all Dominicans in the plan. El Caribe?s editorial is optimistic about the future of the pension funds, which it says could mean a more dignified future for each and every Dominican, providing it is properly administered.