Regulatory Alerts2022-12-30 | NSP-52Added · Updated
Technical Standards for the Collection and Accreditation of Contributions to the Public Pension System
The Committee of Norms of the Central Reserve Bank of El Salvador establishes technical standards for the collection and accreditation of contributions to the Public Pension System. The document mandates a 16% contribution rate for affiliated workers and employers, requiring payments to be made through authorized financial institutions within the first ten business days of the month following withholding. It defines specific procedures for voluntary contributors, including a twelve-month application window and a minimum contribution base income equal to the minimum wage, while imposing administrative collection actions and fines for late payments.
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