Project seeks to raise pensions to 70% of salary and reduce the profits of pension fund administrators in the Dominican Republic

On Tuesday, October 20, Dominican lawmaker Rogelio Alfonso Genao Lanza submitted a legislative bill in the Dominican Republic aimed at restructuring the country's pension system. The proposed legislation seeks to reduce the profits of the Administradoras de Fondos de Pensiones (AFP) by half.

In addition to cutting administrator earnings, the initiative intends to significantly increase retirement payouts for workers. The project proposes raising pensions so that beneficiaries receive between 60% and 70% of the salary they earned while actively working.