Regulatory Alerts2022-12-30 | NSP-70Added · Updated
Technical Standards for the Granting of Survivor Benefits in the Public Pension System
The Committee of Norms of the Central Reserve Bank of El Salvador issued technical standards establishing requirements and procedures for the Salvadoran Institute of Pensions and the Salvadoran Institute of Social Security to grant survivor benefits. The document defines eligible beneficiaries, including spouses, children under specific age or education criteria, and dependent parents, while mandating contribution thresholds such as three years of contributions within five years or ten years of effective contributions. It further outlines the methodology for calculating and distributing these pensions, addressing scenarios involving simultaneous contributions to both institutes and the handling of unpaid contributions.
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