Regulatory Alerts2022-12-30 | NSP-68Added · Updated
Technical Standards for the Expansion of Attention Channels in Pension Systems Through Technological Means
The Standards Committee of the Central Reserve Bank of El Salvador issued these standards on December 30, 2022, to authorize Pension Fund Administrators, the Salvadoran Institute of Pensions, the Social Prevision Institute of the Armed Forces, and the Salvadoran Institute of Social Security to use technological means for pension services. The regulations permit electronic authentication, digital proof of survival via video or biometric methods, and online requests for labor history, provided institutions maintain data integrity and confidentiality. Affected entities must implement internal controls and risk management measures aligned with existing anti-money laundering and operational risk standards. The document repeals previous standards and grants Administrators a 90-day period to adjust systems for identity document number substitution.