The nation\u2019s labor unions came out loudly in support of the measure announced by President Danilo Medina in his State of the Republic address on Wednesday, 27 February 2019. Medina promised to lower the commission charged by all of the country\u2019s pension fund managers. <\/p>\n\n\n\n
Labor leaders Gabriel del Rio Do\u00f1\u00e9 and Jacobo Ramos were clear in their support of the measure. However, Kirsis J\u00e1quez, the executive president of the Dominican Association of Pension Fund Managers (ADAPF) told reporters from the Diario Libre that her association understands the importance of the proposal and that Medina had consulted with the association regarding the proposal and the association is studying it at this time. <\/p>\n\n\n\n
The union leaders, who represent a majority of unionized labor in the country, were hard on the AFPs, charging them with a \u201cferocious appetite for earnings at the expense of the workers.\u201d For her part, J\u00e1quez said that the ADAPF was cooperating with the changes to the social security system that would provide more coverage and provide more and better pensions. <\/p>\n\n\n\n