Labor Minister Jose Ramon Fadul, head of the National Social Security Council (CNSS) says that that body that manages the use of pension plan funds doesn’t have on agenda any proposal that would divert the funds to a housing project or to Central Bank certificates, as was announced by President Leonel Fernandez. Diario Libre writes that the pension funds are at RD$39 billion and the CNSS, which is the organization that is authorized to divert the funds, says the matter has not been formally discussed nor is it on their agenda.<\/p>\n
On 4 July 2007, President Leonel Fernandez announced he was requesting that the funds be used for building 4,000 low-income housing units for public school teachers. He also said he had requested that the CNSS issue a resolution that authorizes that a portion of the funds be placed in Central Bank certificates. President Fernandez also favored that the funds be used to build roads. The announcement was made during a workshop on “How to Access the Pension Funds,” held yesterday at the Santo Domingo Hilton Hotel.<\/p>\n","protected":false},"excerpt":{"rendered":"
Labor Minister Jose Ramon Fadul, head of the National Social Security Council (CNSS) says that that body that manages the use of pension plan funds doesn’t have on agenda any proposal that would divert the funds to a housing project or to Central Bank certificates, as was announced by President Leonel Fernandez. Diario Libre writes … <\/p>\n