Regulatory Alerts2022-12-30 | NSP-65Added · Updated
Technical Standards for the Treatment of Backlogs in the Pension System
The Committee of Standards of the Central Reserve Bank of El Salvador establishes procedures for Pension Fund Administrators, the Salvadoran Institute of Pensions, and the Salvadoran Institute of Social Security to identify, compensate, and credit pension backlogs and undue contributions. The regulation mandates monthly electronic data exchanges by the fifth business day, requiring institutions to resolve discrepancies and transfer net balances by the last business day of each month. It specifies compensation rates for backlogs accumulated before and after June 30, 2001, and outlines protocols for handling file rejections and insufficient funds.
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