Regulatory Alerts2022-12-30 | NSP-51Added · Updated
Technical Standards for the Management of Current Accounts and the Operation of the Collection, Crediting, and Information Transmission Process to Pension System Affiliates
The Committee of Standards of the Central Reserve Bank of El Salvador issued these standards to regulate Pension Fund Administrators and financial entities managing pension fund resources. The rules mandate the use of specific current accounts for exclusive fund management, prohibit overdrafts, and require daily crediting of collected contributions with immediate availability. Additionally, the document establishes strict timelines for reporting, including monthly cash flow projections and the submission of collection service contracts within three business days of signing.
Topics
disclosure
safeguarding
Share