- Click to share on Facebook (Opens in a new window)
- Click to share on Twitter (Opens in a new window)
- Click here to share on LinkedIn (Opens in a new window)
- Click to email a friend (Opens in a new window)
(CNN Spanish) - Trade unionists from different institutions and retired workers marched this Friday in San Salvador to ask for the nationalization of the pension system.
The march, which started from four different points in the capital of El Salvador, culminated in the Legislative Assembly.
The trade unionists marched in black and asked the deputies for a comprehensive reform of the pension system without the participation of the Pension Fund Administrators (AFP), which since 1998 have been operating in the Central American country.
El Salvador now has an International Commission against Impunity and Corruption, CICIES
The trade unionists hope that the reforms will allow them to receive better pensions when they retire and reduce the percentage that the AFPs obtain for the administration of workers' savings.
(Credit: CNN)
The last reforms approved by the Assembly, with 74 of 84 votes, were in September 2017. At that time the Legislature created the so-called “Solidarity Guarantee Account” from 5% of the contributions of each worker and employers.
In addition, the collection of commissions was reduced from 2.20 to 1.9 obtained by the AFPs for the management of workers' accounts.
San Salvador