Technical Standards for the Granting of Survivorship Benefits in the Pension System

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 THE COMMITTEE OF STANDARDS OF THE CENTRAL RESERVE BANK OF EL SALVADOR,

CONSIDERING:

I. That by Legislative Decree No. 614, of December 20, 2022, published in the Official Journal No. 241, Volume No. 437, of December 21, 2022, the Comprehensive Pension System Law was issued, which created the Pension System for workers in the private, public, and municipal sectors, comprising the set of rules and measures that Pension Fund Administrators will apply.

II. That article 2, letter a) of the Comprehensive Pension System Law establishes that the System will have the characteristic that its affiliates will have the right to the granting and payment of survivorship pensions determined in said Law.

III. That article 111 of the Comprehensive Pension System Law establishes that the persons established in said article will have the right to a survivorship pension.

IV. That article 113 of the Comprehensive Pension System Law establishes that survivorship pensions will be determined in accordance with the reference percentages established in article 112 of the aforementioned Law.

V. That article 114 of the Comprehensive Pension System Law establishes the minimum pensions for the System.

VI. That article 122 of the Comprehensive Pension System Law establishes that the Central Reserve Bank of El Salvador, through its Committee of Standards, will be responsible for issuing the corresponding technical regulations to facilitate the application of the benefits from the fund: old-age, disability, and survivorship pensions.

VII. That article 159 of Legislative Decree No. 614, by which the Comprehensive Pension System Law was approved, establishes that the Central Reserve Bank of El Salvador will issue the Technical Standards and Resolutions necessary to allow the development of what is established in the aforementioned Law.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 THEREFORE, by virtue of the regulatory powers conferred upon it by article 99 of the Law on Supervision and Regulation of the Financial System, AGREES to issue the following:

TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM

TITLE I
GENERAL PROVISIONS

SINGLE CHAPTER
OBJECT, SUBJECTS, AND TERMS

Object
Art. 1.- The object of these Standards is to establish the procedures that Pension Fund Administrators must carry out for the granting of survivorship benefits and for determining the economic dependency condition of the parents of an affiliate who dies due to common illness or accident, in accordance with the Comprehensive Pension System Law.

Subjects
Art. 2.- The subjects obligated to comply with the provisions established in these Standards are the Pension Fund Administrators.

Terms
Art. 3.- For the purposes of these Standards, the terms indicated below have the following meaning:
a) Affiliate: Any person who maintains a relationship with a Pension Fund Administrator, through the subscription of an affiliation contract; b) Non-pensioned Affiliate: Affiliate who is not receiving a pension from the Pension System as the deceased, in accordance with the Comprehensive Pension System Law; c) Pensioned Affiliate: Affiliate to the Pension System who receives a pension from a Pension Fund Administrator; d) AFP: Pension Fund Administrator; e) Agency: Public service locations opened by the AFP within the national territory where they provide services to affiliates, beneficiaries, pensioners, and the general public, in accordance with what is established in the Comprehensive Pension System Law;

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 f) Years of Contributions: Time accumulated by contributions made in the Pension System. A contributed year will be understood as equivalent to 365.25 days; g) Central Bank: Central Reserve Bank of El Salvador; h) Beneficiaries with right to survivorship benefits: Members of the family group of the affiliate who dies from common illness or accident, understood as the spouse, the partner, children, and parents, the latter always provided they depend economically on the deceased, in accordance with article 111 of the SP Law; i) Beneficiaries: In accordance with what is established in article 111 of the Comprehensive Pension System Law, they are the beneficiaries of the affiliate before the AFP of their Individual Savings Account for Pensions when the benefit to be granted is a balance refund; j) Deceased: Affiliate whose death generates the right to a pension or balance refund by inheritance; k) CIAP: Individual Savings Account for Pensions: the sum of the worker's mandatory contributions and the proportion corresponding to the employer's contribution and the credited returns. Additionally, any other contribution established for specific cases, provided they meet the requirements of the Comprehensive Pension System Law, will form part of the Individual Savings Account for Pensions; l) CGS: In accordance with article 119 of the Comprehensive Pension System Law, it is the mechanism that assumes the financing and current and future payment of the Minimum Pension and the obligations corresponding to the Provident Institutes of the Public Pension System, with the objective of giving sustainability to the payment of pensions, in a stable and lifelong manner; m) Health Coverage: Right to enjoy the medical benefits granted by the Regime of Maternity, Illness, and Occupational Risks of the ISSS or the Special Program of Maternity and Illness of the Public Teaching Sector, or any other program that provides health coverage; n) Partner: A man or woman in a non-marital union in accordance with article 118 of the Family Code, for which judicial declaration of such status must be proven; this proof will not be required in cases where there are common children, whether born or conceived, without other requirements; o) CT: Transfer Certificate or its equivalent value; p) Days: When used for a term, it shall be understood to refer to calendar days; q) Identity Document: It may be the Unique Identity Document, Minor's Card, Passport, or Resident Card, as applicable;

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 r) Retirement Age: Completed age that enables an affiliate to opt for an old-age benefit, in accordance with what is established in article 96 of the Comprehensive Pension System Law; s) FSV: Social Housing Fund; t) ISBM: Salvadoran Institute of Teacher Welfare; u) ISSS: Salvadoran Social Security Institute; v) ISP: Salvadoran Pension Institute; w) SP Law: Comprehensive Pension System Law; x) SAP Law: Savings System for Pensions Law, repealed by Legislative Decree No. 614, of December 20, 2022, published in the Official Journal No. 241, Volume No. 437, of December 21 of the same year; y) Parents: Father and mother of the deceased affiliate; z) Benefits: Set of obligations of the AFP and the CGS established in accordance with the SP Law, regarding the granting of benefits to their affiliates, insured persons, and beneficiaries; aa) Current minimum wage: Current minimum wage for the Commerce and Services sector; bb) SP: Pension System; cc) SAP: Savings System for Pensions; dd) SBR: Regulator Basic Salary; ee) SPP: Public Pension System; ff) Superintendence: Superintendence of the Financial System; and gg) UAIHL: Comprehensive Unit for Labor History Attention.

TITLE II
ON THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM

CHAPTER I
PROCEDURES PRIOR TO THE GRANTING OF SURVIVORSHIP BENEFITS

Declaration of beneficiaries
Art. 4.- Each affiliate must declare, before the respective AFP, the names and existence of their potential beneficiaries. In the month of June of each year, the AFP will make the respective forms available to each affiliate for the update of this information through the agencies and electronic channels that the AFPs make available to them, and they must also provide the necessary advice for this purpose, including financial education material regarding the topic. Repealed. (4)

In cases where a beneficiary dies after the death of the affiliate but before the granting of the benefit, this will form part of the estate to which they were entitled, since the right had already been acquired, and it is transferred to their heirs.

Publication of list of deceased affiliates
Art. 5.- The AFP must publish during the first twenty days of the months of January, March, May, July, September, and November of each year, in two printed media of national circulation or another digital publication platform with greater or equal coverage, or on its website, in accordance with the current legal framework, the list of deceased affiliates in the previous bimonthly period, of which it has knowledge. This publication is for the purpose of calling beneficiaries to present themselves to claim their rights. Additionally, the AFP may publish the list of deceased affiliates in the previous bimonthly period on its website, possibly even expanding the mentioned list for those cases where no beneficiary has yet presented themselves.

Communication to beneficiaries
Art. 6.- Repealed. (4)

Advice to beneficiaries
Art. 7.- When beneficiaries present themselves to the AFP, the latter must provide the corresponding advice to initiate the respective procedure, as well as regarding the documentation to present and the process to follow to obtain any survivorship benefit.

Labor History
Art. 8.- If the AFP identifies that the deceased non-pensioned affiliate might have contributions in the Public Pension System, it must provide adequate advice to the beneficiary so that they can initiate the corresponding procedures for the review of the Contribution History to the Public Pension System, assigning them an appointment at the UAIHL. This process will conclude with the signing of the Labor History Acceptance Act, a document that must be presented as an attachment to the request to initiate the procedure for the corresponding survivorship benefit.

Art. 9.- The beneficiary must review the consolidated Labor History of the deceased non-pensioned affiliate provided by the AFP, to verify compliance with the time requirements to access survivorship benefits. If the beneficiary does not agree with the information recorded in the Labor History of the deceased non-pensioned affiliate, they must request the review and corresponding management from the AFP.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022

CHAPTER II
ON SURVIVORSHIP BENEFITS

Survivorship benefits
Art. 10.- Upon the death of an affiliate, their beneficiaries may receive a monthly pension or refund of the balance accumulated in the CIAP, in accordance with the requirements established in these Standards for such cases.

Survivorship pension
Art. 11.- A survivorship pension is defined as the monetary benefit granted to beneficiaries with the right to a survivorship pension of an affiliate who dies. The survivorship pension will be delivered as a monthly payment and may be temporary or lifelong, depending on the age and condition of the beneficiary with the right to a survivorship pension. Members of the family group of the affiliate who dies from any common illness or accident will have the right to a survivorship pension, as established in article 111 of the SP Law.

Balance refund in case of survivorship
Art. 12.- When the non-pensioned affiliate does not meet the requirements mentioned in article 13 of these Standards, the balance accumulated in their CIAP will be refunded in the percentages and to the beneficiaries in accordance with what is established in article 112 of the SP Law. The refund will be carried out in accordance with what is established in article 123 of the SP Law.

Requirements that the affiliate must meet to generate a survivorship pension Art. 13.- For a non-pensioned affiliate who dies due to common accident or illness caused by common risks to generate a survivorship pension, they must meet any of the following requirements:
a) Three years of contributions during the five years prior to the date of death; b) Being contributing at the time of death, in case of death by accident or common illness, or having contributed at least six months during the last twelve, and the accident or illness occurred after their affiliation; or, c) Registering a minimum of ten years of effective contributions at the date of death.

For the purpose of calculating the contribution time, the AFP must sum the number of days credited in each contributed month and divide that total by 365.25. The hundredths figure will be rounded to the immediate higher figure when the thousandths figure is equal to or greater than five, and the resulting year fractions will be taken into account with two significant figures, up to the fraction 0.99 inclusive, after which the next higher figure will be used.

If the deceased does not meet any of the aforementioned requirements, the AFP will proceed with the refund of the CIAP balance, in accordance with what is stipulated in article 12 of these Standards.

Art. 14.- In the case of beneficiaries of pensioned affiliates for old age or disability, it will not be necessary to evaluate compliance with the requirements indicated in article 13 of these standards, since the rights acquired by the deceased are transferred.

Requirements that the beneficiary must meet to access a survivorship pension Art. 15.- To access a survivorship pension, beneficiaries must meet at least one of the following requirements:
a) For the Spouse or Partner:
i. Have married the deceased;
ii. In the case of non-marital union, they must demonstrate their status as a partner in accordance with article 118 of the Family Code, for which they must follow a trial in the corresponding instances, who will certify the cohabitation. This will not be required in cases where there are common children, whether born or conceived, without other requirements, except when two or more persons present themselves claiming to be the partner of the deceased affiliate, notwithstanding, the Administrator is authorized to verify if cohabitation materially existed.
b) For children:
i. Be under 18 years of age;
ii. Be a student of basic, secondary, technical, or higher education if their age is between 18 and 24 years.
iii. Be an invalid child, regardless of their age, for which they must undergo a ruling by the Invalidity Rating Commission.
c) For parents:
i. Be economically dependent on the deceased, provable by the AFP through the result of a socioeconomic study carried out in accordance with Title III of these Standards.

Notwithstanding the above, if the parents have a condition of invalidity before the date of death of the deceased, the previous requirement will not be required, and they must undergo the invalidity rating process, so that the Invalidity Rating Commission issues the corresponding ruling.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022

Inheritance
Art. 16.- The balance of the CIAP will form part of the estate of a deceased in the following cases:
a) When no beneficiaries with the right to a survivorship pension are registered at the date of their death; b) When the last person with the right to a survivorship pension ceases to be a beneficiary; c) When an affiliate dies due to occupational risks; d) When an affiliate dies who received a balance refund and continued contributing; e) When an affiliate pensioned by the SPP dies who made contributions to the SAP; f) When an affiliate dies who was receiving a balance refund in annuities and still has a balance in their account; and g) When there are no beneficiaries with the right to a pension and there is a balance in the CIAP of affiliates pensioned for old age.

For the delivery of the balance as inheritance, the procedures considered in civil law and article 117 of the SP Law will be followed.

If after ten years from the death of the affiliate or from the date the last person with the right to a survivorship pension ceased to be a beneficiary, no heirs present themselves, prior notice from the Administrator, the balance of the individual savings account for pensions will pass to the person whom the affiliate designated for such eventualities by means of a form, in accordance with Annex No. 1 of these Standards, or in the absence or death of that designated person, it will pass to the charity institution or hospitals that the affiliate has freely established in the same manner, provided there is a balance in the individual savings account for pensions.

In order to avoid the prescription described in the previous paragraph, during the first sixty days of each calendar year, each AFP must publish once in two printed media of national circulation or another digital publication platform with greater or equal coverage, or on its website, in accordance with the current legal framework, the names of the deceased affiliate in alphabetical order indicating the remaining time from the date of publication for the CIAP balance to prescribe.

Art. 17.- In the event of the death of an affiliate who was enjoying a permanent economic benefit or a temporary economic benefit from their CIAP and there was a remaining balance in the same at the time of their death, the remaining balance will form part of their estate and will not generate survivorship benefits.

CHAPTER III
ON THE REQUEST FOR SURVIVORSHIP BENEFITS

Requests
Art. 18.- The requests to initiate the procedure for survivorship benefits made by beneficiaries must be available to them, through the agencies and electronic means that the AFPs make available to them.

Any beneficiary who wishes to obtain any survivorship benefit must initiate the procedure with the subscription of the corresponding request.

In the event that the beneficiary is unable to personally carry out this procedure, they may be represented by a person authorized by the corresponding legal means.

Art. 19.- The request must contain at minimum the following information:
a) Logo and full name of the AFP; b) Name and number of the request or form in question; c) Beneficiary data:
i. Name;
ii. Sex;
iii. Kinship;
iv. Marital status;
v. Nationality;
vi. Identity Document number (for Salvadoran persons), Passport or Resident Card (for foreign persons), valid and in good condition, as applicable;
vii. Full address;
viii. Contact phone;
ix. Email; and
x. Medium by which they wish to receive notifications regarding the status of their request, including the details thereof (email, text message, directed letter).
d) Deceased data:
i. Name;
ii. Sex;
iii. Nationality; and
iv. Identity Document number (for Salvadoran persons), Passport or Resident Card (for foreign persons), valid and in good condition.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 e) Place and date of submission of the request; f) Signature of the applicant; and g) Stamp and signature of the employee authorized by the AFP to receive the request.

The AFP must keep the original and a copy of the request and will deliver a copy to the beneficiary.

In the event that the request is submitted by physical means, these must not contain smudges, strikethroughs, or any other alteration of the same.

The AFP, for the process of receiving requests, may make electronic means available to the beneficiary; notwithstanding, such a request will be formalized with the signature of the beneficiary presenting their Identity Document, resident card, or passport in the case of foreigners. In the event of being represented by persons legally authorized by the beneficiary, to sign the request on their behalf, they must present their Identity Document and the documentation by which they prove they are duly authorized to carry out the procedure.

Documents attached to the request
Art. 20.- The request must be accompanied by the following documentation regarding the deceased:
a) Copy of the Identity Document, Resident Card, or Passport in case of being a foreigner or non-resident Salvadoran; b) Certification of death certificate; c) Certification of birth certificate; and d) Labor History Acceptance Act, if applicable.

Art. 21.- In the event of violent or accidental death of the deceased, the AFPs may request the presentation of any of the following documents:
a) Medical report or certificate in original; b) Forensic medical examination; c) Autopsy report; d) Police report; e) On-site inspection by the National Civil Police; f) Body removal act; or g) Toxicological examination.

In cases of presumed death by disappearance, what is established in the Civil Code and the Civil and Commercial Procedural Code will apply.

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NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 In the event that death is presumed due to occupational risk, the accident report from the employer may be requested, provided that the beneficiary has access to it. Art. 22.- The status of beneficiary of each member of the family group entitled to a survivorship benefit must be verified by presenting the documentation that establishes the familial or parental link with the deceased affiliate or the marital relationship derived from their status as married or by the cohabitation situation recognized by the Family Code, for which the following documents must be presented:
a) For the Spouse or Cohabitant:
i. Copy of the Identity Document, Resident Card or Passport, in case of being a foreigner or non-resident Salvadoran;
ii. Birth certificate certification, only in the case that there is doubt about the identity of the beneficiary or their civil status, for the purpose of confirming the same; (4)
iii. Marriage certificate certification, in case the margination in the birth certificate is not available; and
iv. In case of being a cohabitant, present the Judicial Declaration of the non-marital union, according to what is established in article 118 of the Family Code, this will not be required in cases where there are common children, whether born or conceived, without any other type of requirement.
b) For children:
i. In the case of children in gestation, a medical certificate that validates the mother's pregnancy condition. This will serve to make the corresponding reservation of the beneficiary;
ii. Copy of the Identity Document, Resident Card or Passport in case of being a foreigner or non-resident Salvadoran;
iii. Birth certificate certification;
iv. If over 18 years old and under 24 years old, present proof of studies; and
v. If suffering from any disability, present the respective application for the qualification of disability by the Disability Assessment Commission.
c) For parents who depend economically on the deceased:
i. Copy of the Identity Document, Resident Card or Passport in case of being a foreigner or non-resident Salvadoran; and
ii. Birth certificate certification, only in the case that there is doubt about the identity of the beneficiary or their civil status, for the purpose of confirming the same. (4)

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 Notwithstanding the above, if the parents have a disability condition before the date of death of the deceased, the requirement of economic dependence will not be required. Art. 23.- When two or more people present themselves applying for a pension, claiming to be the spouse or cohabitant of the deceased affiliate, the benefit will be granted to the one who proves such status judicially. Art. 24.- The beneficiaries according to article 123 of the SP Law must present the copy of the Identity Document, Resident Card or Valid Passport in case of being a foreigner, as well as the birth certificate certification, as appropriate. Art. 25.- In any of the previous cases, if any of them are found to be incapable of signing, another person may sign on their behalf, for which the latter must present a copy of the Identity Document, Resident Card or Passport in case of being a foreigner or non-resident Salvadoran. Art. 26.- In the event that the beneficiary is a minor or incapacitated and has a legal representative or tutor, they must present the following information:
a) Copy of the Identity Document, Resident Card or Passport in case of being a foreigner or non-resident Salvadoran of the legal representative and the beneficiary when applicable; b) Original or notarized copy of the Administrative Power of Attorney with Special Clause to represent the beneficiary, which must have been granted by the legal representative or the tutor, when applicable; c) Birth certificate certification of the minor and in the case of the incapacitated person who has a tutor, the discernment of the tutor's position must be stated in the same; and d) Judicial resolution where the discernment of the tutor's position is stated.

CHAPTER IV
REVIEW OF SURVIVORSHIP APPLICATIONS

Conditions applicable to the documents to be presented Art. 27.- The documents to be attached to the application presented by the beneficiaries must meet the following conditions:
a) Identity Documents, Passports or Foreign Resident Cards must be valid on the date of the application; b) Of the documents requested in the previous letter, both copies and originals must be presented, this in order to carry out the corresponding validation. In the case

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 that for the processing of the procedure the original documents are not available, certified copies may be presented; c) In the case of Birth, Marriage and Non-Marital Union Certifications, they must have an age no greater than six months with respect to the date of presentation of the application; and d) The copies of the documents presented must be legible and in good condition.

Of the review of the documents
Art. 28.- The AFP will verify at the time of receipt of the application the content of the same and the compliance with the requirements to opt for a survivorship benefit, according to what is established in these Standards. If the survivorship benefit application does not meet the requirements established in Chapter IV of these Standards and the requirements established by the SP Law, the AFP will inform such situation to the beneficiary or beneficiaries so that they present the documentation in due form. If the documentation presented by the beneficiaries again does not meet the aforementioned conditions, the AFP will indicate to the beneficiary that the start of the survivorship benefit procedure will be until they present all documents in due form.

CHAPTER V
FINANCING OF SURVIVORSHIP PENSIONS

Financing of survivorship pensions
Art. 29.- In accordance with what is established in the SP Law, survivorship pensions will be financed with the following components:
a) The accumulated balance in the CIAP; b) The CT, if applicable; c) The CGS, when appropriate; and d) The accumulated balance in the individual account administered by the FSV referred to in article 150 of the SP Law, when appropriate.

Procedure for fund transfers to the CIAP
Art. 30.- After the requirements to access a survivorship benefit are verified, if the affiliate had contributed to the SPP, the AFP will carry out from the CGS the payment of a value equivalent to the CT in accordance with what is established in the "Technical Standards on Financing Components of Benefits, Regulator Basic Salary and Years of Contribution" (NSP-48), issued by the Central Bank through its Standards Committee.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 The AFP must request the transfer of funds accumulated by the affiliate in the FSV, for the cases that apply, in accordance with what is established in the "Technical Standards on Financing Components of Benefits, Regulator Basic Salary and Years of Contribution" (NSP-48), issued by the Central Bank through its Standards Committee. Such funds will be credited to the affiliate's CIAP prior to carrying out the benefit calculations. Components of the CIAP Art. 31.- The AFP must determine the amount of the CIAP with its components, which it will use for the payment of the benefit. For the calculation of the CIAP amount, the amounts of the CT must be incorporated, as well as the contributions made to the FSV, when applicable; such components must be credited to the CIAP of the non-pensioned affiliate. For the case of affiliates obliged to the Pension Savings System with the right to a CT according to what is established in article 147 of the SP Law and with the right to survivorship pension, the CT will be paid until the exhaustion of the CIAP, being paid in monthly installments for the amount of the resulting pension. The calculation of the amount of the referred pension will be carried out considering the calculation amount corresponding to the CT without crediting it to the CIAP of the pension applicant, when appropriate; such calculation will be carried out taking the last data of the Consumer Price Index (CPI) published on the date of the execution of the pension calculation. (1) (3) The value of CT referred to in the previous paragraph will be updated taking as reference the last data of variation of the Consumer Price Index (CPI) published on the date of carrying out the payment management prior to the crediting in the CIAP. (1) Art. 32.- For beneficiaries of deceased contemplated in letter a) of the second paragraph of article 119 of the SP Law, upon exhaustion of the CIAP balance, survivorship pensions will be financed from the CGS, in accordance with the granting and enjoyment conditions applicable to each case. When it concerns beneficiaries with the right to survivorship pension, whose deceased are affiliates referred to in articles 184 and 184-A of the SAP Law, and the amount equivalent to the value of the CT is paid in three annual installments, if the CIAP balance is insufficient to initiate or continue the payment of survivorship pension, such pensions will be from the CGS, during the remaining months for the payment of the corresponding CT annual installment, in order to give sustainability in a stable and lifelong manner, as stipulated in article 119 first paragraph of the SP Law. (2)

CHAPTER VI
PROCEDURE FOR CALCULATING THE SURVIVORSHIP PENSION

Pension of non-pensioned affiliates
Art. 33.- The amount on which survivorship pensions generated by non-pensioned affiliates will be calculated will be determined as a percentage of the SBR according to what is established in article 101 of the SP Law and in accordance with what is established in the "Technical Standards on Financing Components of Benefits, Regulator Basic Salary and Years of Contribution" (NSP-48), issued by the Central Bank through its Standards Committee, taking into account the following mathematical formula:
PRNP = SBR * 50% [Eq. 1]
Where:
PRNP: Reference survivorship pension amount for a non-pensioned affiliate.
SBR: Regulator Basic Salary.
In the case that the resulting calculation of reference pensions is lower than the value of the currently valid minimum survivorship pensions, these must be adjusted to such minimum amounts. Subsequently, the respective percentages will be applied to this amount for each beneficiary, this in accordance with article 112 of the SP Law. In any case, the sum of the pensions of each of the beneficiaries cannot be lower than the amount of the full old-age minimum pension. The adjustment to the minimum survivorship pension will consist of redistributing, in a proportional manner, the difference between the sum of the pensions and the minimum pension amount, assigned to each beneficiary, until reaching 100% of the referred minimum pension. Calculation base of survivorship pensions for pensioned affiliates Art. 34.- The calculation base on which the respective percentages of survivorship pension will be determined, generated upon the death of a pensioned affiliate, will be the amount of the second-determination disability pension or old-age that the affiliate had been accruing the month before the month in which the death occurred, taking into account the following mathematical formula:
PRP = PD [Eq. 2]
Where:
PRP: Reference survivorship pension amount for a pensioned affiliate.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 PD: Amount of disability or old-age pension that the pensioned affiliate had been accruing the month before the month of their death. Survivorship pension amount for a beneficiary with the right to the same Art. 35.- Once the amount on which survivorship pensions will be applied has been determined, it will be distributed among the number of beneficiaries, applying for this the percentage that article 112 of the SP Law points out, as appropriate, thus obtaining the pension amounts that correspond. This amount must be expressed with two significant decimal figures, approximating the second decimal to the immediate higher value, if the third decimal is equal to or greater than five, taking into account the following mathematical formula:
PSB = PR * pj
[Eq. 3]
Where:
PSB: Survivorship pension amount for a beneficiary with the right to the same.
PR: Reference pension amount calculated according to article 34 or article 35 of these Standards, depending on the type of deceased. pj: Percentage of the reference pension of the deceased that corresponds to beneficiary j according to what is established in article 112 of the SP Law. Art. 36.- It must be considered that the sum of the survivorship pensions granted to the beneficiaries cannot exceed one hundred percent of the reference pension of the deceased. In the event that it exceeds one hundred percent, the following mathematical formula must be applied:
pj = { pjc, if ∑pj from 1 to n ≤ 100% ; pjr, if ∑pj from 1 to n > 100% } [Eq. 4] pjc = pj [Eq. 5] pjr = (100 / ∑pj from 1 to n) * pj [Eq. 6] Where:

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 pj: Percentage of the reference pension of the deceased that corresponds to beneficiary j according to what is established in article 112 of the SP Law. pjc: Percentage of the reference pension of the deceased that corresponds to beneficiary j according to what is established in article 112 of the SP Law, provided that the sum of these does not exceed one hundred percent. pjr: Recalculated percentage of the reference pension of the deceased that corresponds to beneficiary j when the sum of the percentages of the reference pension of the deceased that correspond to the beneficiaries with the right to survivorship pension exceeds one hundred percent.

Affiliates who opted to transfer to the SAP
Art. 37.- In the case of the death of a non-pensioned affiliate who in accordance with article 184 of the SAP Law has chosen to transfer to the SAP and who meets the legal age and the requirements of years of contributions established in article 104 of the SAP Law, the calculation of the reference pension of the deceased will be carried out according to what is disposed in article 201 of said Law and the pension for each beneficiary will be determined applying the reference pensions established in article 121 of the same. In the case of the death of a non-pensioned affiliate who in accordance with article 184 of the SAP Law has chosen to transfer to the SAP and does not meet the legal age, the beneficiaries will receive an amount equivalent to the CT that would have corresponded to the affiliate for the contributions made to the SPP, which will be credited to the CIAP of the affiliate, in accordance with what is established in the "Technical Standards for the Administration and Management of the Solidarity Guarantee Account" (NSP-44), approved by the Central Bank through its Standards Committee, and will serve for the payment of the benefits that correspond, the above in accordance with what is established in the SAP Law. The calculation of the pensions will be in accordance with what is established in articles 120 and 121 of the same Law. (3)
CHAPTER VII
RESOLUTION OF THE APPLICATION

Resolution of the application
Art. 38.- Once the compliance with the requirements to access a survivorship benefit has been verified and the calculations of the same to which the beneficiary has the right have been carried out, the AFP will issue and notify the resolution of the application in accordance with the following:
a) Identification of the benefit to which the beneficiary is entitled in accordance with the application presented; b) Establishment of the amount of the monthly survivorship pension (including the Christmas pension amount) or the amount of the balance refund (total or partial); c) Payment frequency in accordance with the characteristics of the benefit and the estimation of its duration. In this section, the AFP must place a legend clarifying that these estimates may be subject to changes due to the assumptions established at the time of carrying them out; and d) Signature of the person that the Board of Directors of the AFP delegates for such effect. Art. 39.- The AFP must consult the beneficiary on the form of disbursement of the benefit, which will be specified by the beneficiary and the AFP must consider it at the moment of executing the resolution. The disbursement must be carried out by credit to an account in the name of the beneficiary person, as appropriate, by deposit in a checking or savings account, in any financial entity authorized to capture public deposits subject to regulation and supervision in accordance with the Law of Supervision and Regulation of the Financial System, indicated by the beneficiary, according to the policies that the AFP determines for such effect; in exceptional cases, the payment may be made by non-negotiable check or other payment mechanisms authorized for the financial institution.

CHAPTER VIII
PAYMENTS OF SURVIVORSHIP BENEFITS

Accrual of the survivorship pension
Art. 40.- The accrual of the survivorship pension will be the day following the date of death of the affiliate, except in the case of children in gestation whose initial accrual date will be that of their birth.
The amount of the benefit corresponding to the first month will be calculated proportionally from the day on which the accrual of the pensions starts, and until the last day of that calendar month.
Payment authorization
Art. 41.- Once the AFP has verified that the beneficiary meets the requirements to access a survivorship pension and the same has shown conformity with the conditions of the resolution notified by the AFP according to article 38 of these Standards, the AFP will issue a resolution approving the payment, which will be signed by the person that the Board of Directors of the AFP delegates for such effect.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 The resolution must be issued as soon as the AFP has completed the corresponding documentation and has credited, in the CIAP of the affiliate, the value of the CT and the balance of the FSV, if applicable, notifying the beneficiary of such resolution. The first payment of the benefit, as appropriate, must be made within the following seven business days after the notification of the granting of the benefit, provided that the beneficiary has given their conformity. (2) In the event that the beneficiary is not in conformity with the calculated amount of the benefit, the AFP will be responsible for clarifying their doubts. If the beneficiary appeals to the Superintendency to present a complaint, report or writing related to the amount of the benefit, this will also be resolved by the AFP, with the obligation to communicate in writing to the Superintendency how the case was resolved.

Pension payment date
Art. 42.- The payment of the survivorship pension must be made no later than within the last five business days of each month.
Each AFP is free to choose the payment day, within the period established in the previous paragraph; however, it must be the same date of the month for all payments to be made to the same person, except when the designated day coincides with a non-business day, in which case such payment must be made on the previous business day. The payment of the benefit must be carried out by credit to an account in the name of the beneficiary person, as appropriate, by deposit in a checking or savings account, in any financial entity authorized to capture public deposits subject to regulation and supervision in accordance with the Law of Supervision and Regulation of the Financial System, indicated by the beneficiary, according to the policies that the AFP determines for such effect; in exceptional cases, the payment may be made by non-negotiable check.

Art. 43.- The AFPs may make deductions from the pensions at the request of the beneficiary.

Christmas pension
Art. 44.- Every year, the payment of a Christmas pension must be considered, according to what is disposed in article 97 of the SP Law.
During the first year of pension, the right to the Christmas pension will be had, if the accrual of the pensions starts, before or during the first five business days of the month of December.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 The Christmas pension will not be considered remuneration affected by the health program discount, AFP administration commission or special contribution to the CGS.

CHAPTER IX
REFUND OF THE CIAP BALANCE BY SURVIVORSHIP
Balance refund
Art. 45.- For the beneficiary to be able to request the refund of the CIAP balance of the deceased, they must present the corresponding application to the respective AFP in accordance with what is established in Chapter III of Title II of these Standards, as appropriate.

Payment of the balance refund
Art. 46.- The refund must be canceled by means of a check in the name of the beneficiary, other payment mechanisms authorized for the financial entity or credit to an account in the name of the beneficiary, in the financial entity that they have established, in accordance with the conditions established in article 123 of the SP Law and must be made within the following seven business days after the notification of the granting of the benefit, provided that the beneficiary has given their conformity. (2) In the event that there are arrears and delay on the date of disbursement of the CIAP, they must be returned to the beneficiary when they are recovered by the AFP. The AFP must issue a balance refund resolution and attach an updated individual Account Statement. Art. 47.- The AFP will be responsible for keeping a record to control the balance refunds of the CIAP by survivorship referred to in these Standards.

CHAPTER X
PROCEDURE IN CASE OF DEATH DUE TO OCCUPATIONAL RISKS

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Death due to occupational risks
Art. 48.- In the event that the AFP, based on evidence presented by the beneficiaries or relatives of the deceased, has reasonable and reliable indications that the death of the affiliate resulted from causes or occupational risks, it must refer the interested beneficiary to the Health, Illness and Occupational Risks Regime of the ISSS or ISBM, as appropriate, so that said institution determines whether the cause of death is due to occupational risk.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 Art. 49.- The AFP must make the balance of the deceased's CIAP available as part of the estate, once the ISSS or ISBM, as appropriate, issues a resolution determining the cause of death as an occupational risk. Art. 50.- The ISSS or ISBM, as appropriate, will proceed in accordance with its Law and Regulations to determine the eligibility or not for the payment of benefits. Art. 51.- The AFP will proceed with the payment of pensions only until the ISSS or ISBM, as appropriate, resolves that the cause of death is due to common risk.

CHAPTER XI
OF THE QUALITY OF BENEFICIARIES

Requirements to continue with the right to survivorship pension Art. 52.- Once the payment of a survivorship pension has been authorized for the beneficiaries of the deceased, they must periodically present, depending on the beneficiary, the documentation described in the following articles. Art. 53.- To be able to continue enjoying the respective pension, in the event that the beneficiary with the right to survivorship pension are children under 18 years of age or disabled, spouses, cohabitants or the parents of the deceased in accordance with article 111 of the SP Law, it will only be necessary for them to attest to their survival in accordance with Chapter XII of Title II of these Standards. Art. 54.- Children between 18 and 24 years of age must prove to the corresponding AFP their status as students, whether in basic, secondary, technical or higher education, for which they must present a certificate or probative document, issued by the respective authority, during the first month of each cycle or school year, said certificate must be duly signed and stamped by the respective authority. In the event that they study at a foreign institution, they must prove it through documents that comply with the provisions defined by Salvadoran legislation for such effect. The AFP must initiate collection actions for pensions paid improperly, or in its case, deduct them from future payments. The continuity in the right to survivorship pension is independent of the approval of the subjects enrolled, by the beneficiary. Once the beneficiary reaches the age limit established in the SP Law, the amount of their pension will be redistributed, in the corresponding proportion, in favor of

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 other beneficiaries with the right to survivorship pension, if any. This redistribution will proceed as long as they have not reached the individual limit prescribed, indicated in article 112 of the SP Law, as appropriate. Children between 18 and 24 years of age who can prove the continuity of their studies during the vacation months, by presenting the previous and subsequent study certificate, will have the right to survivorship pension payment in those months. In the case of studies that last less than 6 months, the beneficiary may accumulate their study certificates, for a maximum of 6 months, to present them to the corresponding AFP. Art. 55.- Notwithstanding the provisions of the previous article, a child beneficiary who has been temporarily unable to study due to illness or having suffered an disability may recover the right to survivorship pension. In both cases, the temporary suspension of the pension will apply, although the right to it is recovered at a later date.

CHAPTER XII
OF PROOF OF SURVIVAL

Proof of survival of residents in the country
Art. 56.- For the proof of survival of beneficiaries with the right to survivorship pension residing in the country, the following is established:
a) The AFP must verify the survival status of the beneficiary with the right to survivorship pension semi-annually; b) The AFP must verify under any of the modalities established by the SP Law, semi-annually that each beneficiary with the right to survivorship pension continues to be alive and is entitled to the corresponding pension, for which, the AFP must request this, with sixty days in advance of the fulfillment of the established deadline, to carry out the proof as indicated; c) To document this situation, the form designed for such effect will be filled out, which must contain as a minimum what is established in article 59 of these Standards; and d) The proof of survival of beneficiaries with the right to survivorship pension who have been classified as disabled will be carried out through a home visit by a social work professional. This procedure may also be applied when a beneficiary who is not disabled demonstrates being unable to reach an AFP agency, due to deterioration in their health or advanced age. This procedure will also apply in cases where the beneficiary is a minor and the legal representative or tutor is in the

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 conditions mentioned above, for which the latter must demonstrate being unable to take the minor to the AFP agency. The AFPs must leave a written record of the procedure carried out.

Proof of survival of residents abroad
Art. 57.- For the proof of survival of beneficiaries with the right to survivorship pension residing abroad, they may carry out any of the following forms:
a) The beneficiary with the right to survivorship pension residing outside the country must appear before the Office of the Salvadoran Consulate or before the offices of the person who exercises the function of notary in the country of residence, where they will request to make a Sworn Declaration, which will be valid in El Salvador, as long as it is made in accordance with the notarial legislation of El Salvador, in the Castilian language and carry the authentic signatures required by Salvadoran laws and international treaties signed by El Salvador, when applicable; or b) The beneficiary with the right to survivorship pension may also prove their survival through the sworn declaration, granted in the country of residence before the offices of a public notary authorized by the Supreme Court of Justice of El Salvador. In this case, the sworn declaration may be made in a notarial deed, as long as it complies with the requirements established by the Notary Law of El Salvador. The AFP may hire companies in order to receive proofs of survival abroad in accordance with what is established in article 42 of the SP Law. At no time, an attorney-in-fact may sign the proof of survival of the beneficiary with the right to survivorship pension that they represent. Art. 58.- If the beneficiary with the right to survivorship pension does not carry out the proof on the date indicated by the AFP, the payment of the pension or benefit will be suspended from that moment. Said payment will be resumed the next business day with retroactive effect, once the beneficiary with the right to survivorship pension proves the referred condition. This deadline will not apply in exceptional cases where the lack of proof of survival is greater than two years or documents must be requested to prove the requirements for the enjoyment of the pension or benefit. Once the requirements are proven, payment must be made the next business day. (4)

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 Art. 59.- The format of the form is at the discretion of the AFP, however, it must contain, as a minimum, the following information:
a) Name of the beneficiary with the right to survivorship pension; b) Type of pension; c) Personal Data:
i. Data of the beneficiary with the right to survivorship pension;
ii. Type and number of Identity Document;
iii. Address and phone, both personal and work; and
iv. Email.
d) Information of the attorney-in-fact or legal representative, if applicable:
i. Name of the attorney-in-fact or representative;
ii. Name and number of Identity Document;
iii. Address and phone;
iv. Email;
v. Information related to the public deed, such as: number of deed, number of protocol and name of the notary.
e) Names and Signatures:
i. Of the person who receives the form, named or authorized by the AFP;
ii. Of the beneficiary with the right to survivorship pension, if they cannot sign, the fingerprint;
iii. Of the person who signs on behalf, when the beneficiary with the right to survivorship pension does not know or cannot sign. The person who signs on behalf must include their Identity Document; and
iv. Of the legal representative or attorney-in-fact, if applicable.
Art. 60.- The AFP may keep a control of the survival of its beneficiaries with the right to survivorship pension, residents in El Salvador and abroad, through a biometric equipment, so that, in an expeditious and secure manner, they can carry out an effective review of the survival of these and that allows continuity to the payments made through these, of the benefits granted by the SP. The AFP will be responsible for the implementation, operation, disclosure and verification of the correct functioning of the tool, ensuring that the beneficiaries with the right to survivorship pension know the method and form to demonstrate their survival, as well as their encoding. The AFP must place the devices in places accessible to users and implement all those controls aimed at avoiding any type of fraud involving an inadequate use of the control mechanism.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 Of the notification of the proof of survival process (4) Art. 60.A- The AFPs must notify the beneficiaries with the right to survivorship pension, through the different communication channels made available to them, including instant messaging applications, text messages, email or phone calls, about the obligation to carry out the proof of survival. Said notification must be made within the first three business days of the month in which the proof of survival corresponds and reiterated two weeks prior to the end of said month. (4) The communication must be made, as a minimum, by two of the following means: sending a text message or call to the registered phone number of the beneficiary, an email to the registered electronic address or a message through the WhatsApp instant messaging application, when said channel is enabled. (4) Likewise, the AFPs must carry out at least every three months, information campaigns directed to the beneficiaries, aimed at raising awareness about the importance and timeliness of the proof of survival in the month that corresponds to each beneficiary. In the event that the beneficiary does not carry out the proof of survival within the corresponding month, the AFP must formally communicate to them within the first three business days of the following month their condition of non-compliance, warning that the payment of the pension will be suspended until said requirement is met. In said communication, the means and channels available to carry out the proof of survival must be clearly indicated, in order to reactivate the payment of the benefit. (4)

TITLE III
OF THE DETERMINATION OF THE CONDITION OF ECONOMIC DEPENDENCY OF THE PARENTS OF AN AFFILIATE WHO DIES FROM COMMON RISKS

CHAPTER I
OF THE REQUIREMENTS AND BENEFITS
Art. 61.- The parents who depend economically on the deceased will have the right to survivorship pension, for which the condition of economic dependency must be determined in accordance with what is established in these Standards.

Dependent parents subject to pension
Art. 62.- Dependent parents with the right to survivorship pension will be considered those who, at the time of the death of an affiliate, prove their economic dependency, in accordance with what is provided in this Title. For the determination of

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 the economic dependency, the socio-economic study must be submitted to, in those cases where the income exceeds the current minimum wage. The referred proof of income must be carried out at the time of presenting the application for survivorship pension. Notwithstanding the above, if the parents have a condition of disability before the date of death of the deceased, the previous requirement will not be required and must be submitted to the disability qualification process, so that the Disability Qualifying Commission issues the corresponding opinion.

Of the socio-economic study
Art. 63.- The socio-economic study will be processed by the AFP at the request of the dependent parents of the deceased, being the costs of its elaboration at the expense of the AFP; said study will be entrusted to a professional in social work or person who demonstrates verifiable experience in that field of at least five years. The person designated by the AFP to carry out the socio-economic study, in order to provide services to them, must register previously in the Public Registry of the Superintendence, in accordance with current regulation. The socio-economic study must be carried out within a period not greater than thirty days from the presentation of the request for the same by the dependent parents. Art. 64.- The socio-economic study will comprise the field work, as well as the diligences and investigations necessary that will be documented in a report to be presented to the AFP. The study may be the same for both parents, if they have common residence; otherwise, separate studies must be carried out.

Socio-economic questionnaire
Art. 65.- In order to verify the level of income and expenses of the family group with whom the dependent parents reside, the person in charge of carrying out the socio-economic study, must complete, during their field visit, a socio-economic form whose characteristics are detailed in Chapter II of this Title of these Standards. Said form must be completed exclusively by the professional in charge. Probative documents Art. 66.- The parents will be obligated to provide the necessary documents to prove that the information stated in the questionnaire is valid. Among the documents to be presented must be, when applicable, the following:
a) Payment receipts or salary certificates of the members of the family group who receive salaries;

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 b) Balance in their bank accounts; c) Shares or participations that they possess in capital societies; d) Income from dividends; e) Other income from monetary activities; f) Time deposits; g) Copies of receipts for water, electricity, telephone, municipal taxes and other services that demonstrate the declared monthly expenses; h) ISSS statement or ISBM card or any other identification of coverage by any health program in the name of the dependent parents when applicable; i) Debt certificates, specifying: balance, payment periodicity and quota amount; j) Properties owned by the potential beneficiaries; k) Declarations of Tax on the Transfer of Movable Property and on the Provision of Services (VAT), on Income and Municipal for the last two years; and l) Pension certificates of the dependent parents. All documents must refer to dates within the three months prior to the death of the deceased. When the dependent parents present photocopies of the probative documents, the person who confronted them with the originals must sign and include their name on the photocopy as a sample of verification.

CHAPTER II
OF THE INFORMATION REQUIRED TO DETERMINE THE CONDITION OF ECONOMIC DEPENDENCY

Request for socio-economic study
Art. 67.- The parents considered as potential beneficiaries must present to the AFP a request for them to carry out the socio-economic study, which must contain as a minimum the following:
a) Identification of the parents:
i. Full name of the parents;
ii. Place and date of birth;
iii. Gender;
iv. Exact address; and
v. Phone.
b) Data of the deceased:
i. Name of the affiliate;
ii. Identity Document; and
iii. Date of death.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022 Information required to develop the socio-economic study Art. 68.- Received the request referred to in the previous article, the AFP must delegate a social worker to carry out the socio-economic study, who must consider in the study as a minimum the following:
a) Identification:
i. Full name of the parents;
ii. Place and date of birth;
iii. Gender;
iv. Exact address;
v. Phone;
vi. Number of living children;
vii. Health coverage by ISSS, Magisterial Welfare or other coverage regime;
viii. Income:
1. Salary;
2. Third-party contributions to the family group; and
3. Others (specify).
b) Family Group, understood as the relatives with whom the parents reside:
i. Full name of each member;
ii. Kinship;
iii. Ages;
iv. Occupation;
v. Income of the family group:
1. Salaries per person; and
2. Others (specify).
c) Income of each of the parents and of the parents' family group (separately):
i. Wages, salaries or daily wages;
ii. Per diems and travel expenses;
iii. Commissions and bonuses;
iv. Interest from deposits;
v. Dividends from shares or participations in capital societies;
vi. Rents or leases; and
vii. Others (specify).
d) Monthly expenses of each of the parents and of the parents' family group (separated each of them):

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022
i. Food;
ii. Housing;
iii. Education;
iv. Clothing;
v. Health;
vi. General services:
1. Water;
2. Electricity;
3. Telephone; and
4. Others (specify).
vii. Transportation;
viii. Contributions and deductions:
1. AFP;
2. ISSS (IVM);
3. ISP (IVM);
4. Income;
5. Health; and
6. Others (specify).
ix. Payment of debts;
x. Quotas or contributions to institutions of public utility, patronages, associations, clubs and others; and
xi. Others (specify).
e) Total:
i. Income – Expenses.
f) Detail of real estate of the parents and of the parents' family group (this must contain):
i. Name of the owner;
ii. Location;
iii. Value;
iv. Rent it produces;
v. Own or financed property; and
vi. Value of the financing quota.
g) Detail of the movable property of the parents and of the parents' family group:
i. House furniture (if financed, detail the debt balance and quota value); specify detail and value;
ii. Vehicles:
1. Brand;
2. Model; and
3. Approximate current value.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 30/12/2022 Validity: 30/12/2022
iii. Other Movable Property:

1. Detail;
2. Purchase value; and
3. Balance and quota value if they are in financing.
   h) Detail of other assets:
   i. Rights;
   ii. Shares;
   iii. Participations in capital societies;
   iv. Copyrights; and
   v. Patents.
   i) Detail of the debts of the parents and of the parents' family group:
   i. Institution to which is owed;
   ii. Amount granted;
   iii. Updated balance;
   iv. Quota amount; and
   v. Payment periodicity.
   The information provided to fill out the questionnaire constitutes a sworn declaration and the document will contain an authorization to verify the information provided, for which it will include in it, a text such as the following:
   "I authorize [name of the AFP], to verify the information provided in this form. In the event that any information turns out to be false, it will not be taken into account for the evaluation of economic dependency and could lead to a declaration of non-dependency of the applicant".

Of the documentation on the socio-economic study process Art. 69.- The parents' request, together with the documentation received in the process, the socio-economic study, as well as the opinion, must be incorporated into the deceased's file. Art. 70.- The AFP after verifying the information of article 69 of these Standards, will issue the resolution granting or denying the survivorship pension, within the following ten days from the presentation of all the documentation.

CHAPTER III
OF THE RESULT OF THE SOCIO-ECONOMIC STUDY AND THE BENEFITS TO THE DEPENDENT PARENTS

Result of the socio-economic study

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NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 Art. 71.- Once the socioeconomic study is completed, the person who conducted it must send the report to the AFP duly signed by them, attaching the collected documentation, along with the reasoned opinion, regarding the economic dependence of the father, the mother, or both, so that the AFP has sufficient grounds to issue the corresponding resolution within ten days, counted from the delivery of the report to the AFP. If the person who conducted the socioeconomic study, after gathering all the information, states that there is no economic dependence, the declaration of non-existence of economic dependence can be made immediately; in any case, the AFP must verify the report, taking into account the information presented by the person responsible for the socioeconomic study. Criteria to prove the condition of economic dependence Art. 72.- The economic dependence of the parents will be proven if, according to the result of the socioeconomic study, any of the following conditions are met:
a) When the per capita income of the family members of the dependent parents is lower than the current minimum wage. The income includes:
i. Income from salary remuneration;
ii. Income from family sources, excluding that of the deceased;
iii. Any other income, except as indicated in the following roman numeral; and (4)
iv. Any pension that the potential beneficiary of the survivorship pension referred to in these Standards is currently receiving, regardless of whether it is a pension from their own source or derived from another source.
b) When it is demonstrated that the aid received from the deceased represented at least twenty percent of the deceased's reference pension.

Deadline to notify the resolution to dependent parents Art. 73.- The AFP, within a term of two business days counted from the issuance of the resolution, will proceed to notify it to the survivorship pension applicant. Benefits to be granted in case of survivorship pension to dependent parents Art. 74.- In the event that it is determined that the parents have the right to a pension, the percentage of pension to be paid will be in accordance with what is established in article 112 of the SP Law. On the denial of survivorship pension to dependent parents

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 Art. 75.- In the event that the dependent parents do not agree with the resolution, they will have a period of up to thirty days after its notification to submit a request for review to the AFP. In the event that the dependent parents request a review, the AFP will have thirty days following its submission to resolve, including in this period, its notification. Furthermore, the dependent parents may express, before the Superintendence, their disagreement with the issued resolution, within a period of one year, counted from the date the resolution referred to in the previous paragraph was notified. This manifestation must be supported by the probative documentation referred to in this Chapter. The Superintendence will resolve in accordance with the applicable legal framework.

TITLE IV
SINGLE CHAPTER
OTHER PROVISIONS AND VALIDITY

AFP advice to their beneficiaries
Art. 76.- The AFPs must provide adequate advice to the beneficiary, regarding the procedures and requirements necessary to opt for the different survivorship benefits, leaving evidence that they were duly informed about them.

On the notification of pension or benefit payment (4) Art. 76-A.- The AFPs must notify by means of text messages or instant messaging, when the payment of the pension or survivorship benefit has been made. (4)

Sanctions
Art. 77.- Non-compliance with the provisions contained in these Standards will be sanctioned in accordance with what is established in the Law on Supervision and Regulation of the Financial System.

Repeal
Art. 78.- These Standards repeal the "Technical Standards for the Granting of Survivorship Benefits in the Savings for Pensions System" (NSP-13), approved in Session of the Norms Committee No. CN-08/2018 on the thirty-first of August of two thousand eighteen by the Norms Committee of the Central Reserve Bank of El Salvador.

Transitory (4)
Art. 78-A.- The AFPs must guarantee that the provisions approved through the modifications to these Standards, approved by the Central Bank through its

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 Norms Committee in Session No. CN-01/2026 on January 29, 2026, are carried out starting from the month of March 2026, for which they will have the period to carry out the administrative and technological adjustments that guarantee the reactivation of the payment of suspended pensions or benefits due to the lack of the survival verification process. (4)

Unforeseen aspects
Art. 79.- The aspects not provided for in regulatory matters in these Standards will be resolved by the Central Bank through its Norms Committee.

Validity
Art. 80.- These Standards will enter into force from the thirtieth of December of two thousand twenty-two.

MODIFICATIONS:

(1) Modifications to article 31 approved by the Central Bank through its Norms Committee, in Session No. CN-04/2023, on June 28, two thousand twenty-three, with validity starting from July 14, two thousand twenty-three. (2) Modifications to articles 32, 41 and 46 approved by the Central Bank through its Norms Committee, in Session No. CN-03/2024, on February 29, two thousand twenty-four, with validity starting from March 15, two thousand twenty-four. (3) Modifications to articles 31 and 37 approved by the Central Bank through its Norms Committee, in Session No. CN-09/2024 on September 23, two thousand twenty-four, with validity starting from October 9, two thousand twenty-four. (4) Modifications to articles 4, 22, 58 and 72, repeal of article 6 and incorporation of articles 60-A, 76-A and 78-A, approved by the Central Bank through its Norms Committee, in Session No. CN-01/2026 on January 29, two thousand twenty-six, with validity starting from February 13, two thousand twenty-six.

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TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022
Annex No. 1

FORM FOR DESIGNATED PERSON OR CHARITABLE INSTITUTION OR HOSPITAL BY INHERITANCE In case it applies, in accordance with article 117 of the SP Law, if after ten years from the death of the affiliate or from the date they ceased to be a beneficiary, the last person with the right to survivorship pension, no heirs are presented, prior notice from the Administrator, the balance of the individual savings account for pensions will pass to the person who in such an eventuality has designated by means of a form previously by the affiliate or in the absence or death of that designated person, it will pass to be transferred to the charitable institution or hospitals that in the same way has freely established by the affiliate, provided that there is a balance in the individual savings account for pensions, being required to provide as a minimum the following information:
Designated Person:
a) Logo and full name of the AFP; b) Name and number of the form in question; c) Data of the affiliate or deceased:
i. Name;
ii. Sex;
iii. Nationality;
iv. Identification Document Number (for Salvadoran people), Passport or Residence Card (for foreigners), valid and in good condition;
v. Marital Status;
vi. Full address;
vii. Contact phones; and
viii. Email.
d) Data of the Designated Person:
i. Name;
ii. Sex;
iii. Kinship;
iv. Date of birth;
v. Nationality;
vi. Identification Document Number (for Salvadoran people), Passport or Residence Card (for foreigners), valid and in good condition;
vii. Full address;
viii. Contact phones; and
ix. Email.
e) Means by which you wish to receive notifications about your form, as well as its update, (email, text message, directed letter, among others); f) Place and date of submission of the form; and g) Signature of the affiliate.

NSP-50
TECHNICAL STANDARDS FOR THE GRANTING OF SURVIVORSHIP BENEFITS IN THE PENSION SYSTEM Approval: 12/30/2022 Validity: 12/30/2022 Charitable institution or hospital:
a) Name; b) Address; and c) Tax ID, if they have this registration.
The AFPs must provide in this form a contact number to which the affiliates and their designated person or Charitable institution or hospital can communicate to obtain the necessary advice.
The Form will be formalized with the signature of the affiliate, thus giving their consent regarding the data provided in the form.

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