Regulatory Alerts2022-12-30 | NSP-48Added · Updated
Technical Standards on Financing Components of Benefits, Regulatory Basic Salary and Years of Contribution
The Committee of Norms of the Central Bank of Reserve of El Salvador issued these standards to establish procedures for Pension Fund Administrators, Pension Institutes, and the Social Fund for Housing regarding the calculation of benefit financing components. The document mandates specific methods for determining the Regulatory Basic Salary, computing years of contribution, and processing Transfer Certificates, including installment payment rules for affiliates with at least ten years of contributions. It also outlines obligations for work history reconstruction and data verification to ensure accurate benefit determination under the Comprehensive Law of the Pension System.
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