Oversight body will oversee transfer of pension funds to the Biess

A citizen oversight body will be responsible for overseeing the transfer of resources of the 68 additional public and private pension funds to the Bank of the Ecuadorian Institute of Social Security (Biess). The Council of Citizen Participation and Social Control, will try the...

President Correa partially objected the draft law to pension funds

President Rafael Correa partially objected the draft Reformatory Law to the Social Security Law and the Law of the Bank of the Ecuadorian Institute of Social Security for the administration of closed complementary pension funds. According to a document dated October 16 and sent...

FCME does not rule bank creation with pension funds

The president of the Unemployment Fund for Teachers (FCME) Juan José Castelló yesterday inaugurated the Special Meeting of this entity and did not rule out the creation of a Bank of the Teacher. “It’s an issue that we will discuss in due course, but not a simple...

Second debate for pension funds is held Today

The debate on the second report of the Worker Rights Committee on pension funds is held today in the National Assembly. The initiative states that these funds should be administered by the Bank of the Ecuadorian Institute of Social Security (Biess for its Spanish acronym). Byron...

Report on pension funds is approved for second debate

With eight votes in favor and two against, the Committee on the Rights of Workers yesterday approved the report for the second debate of the Reform Act, that seeks to transfer 54 pension funds to the management of the Bank of the Ecuadorian Institute of Social Security (Biess for...

The report for the second debate of reforms for pension funds will be approved today

This afternoon will be approved the report for the second debate of the reformatory project that proposes to transfer the administration of pension funds to the Bank of the Ecuadorian Institute of Social Security (Biess). A press release from the Assembly noted that the table...

Workers Commission talks with members of pension funds

The Commission on Workers Rights of the National Assembly heard 13  of the 17 pension funds representatives that were summoned to give their observations on the draft law that seeks to transfer its administration to the Bank of the Ecuadorian Institute of Social Security (Biess)....

Six months to submit audit of 54 pension funds

The Superintendency of Banks will have six months to submit the audit of the 54 copplementary pension closed funds. After this, the Monetary Board shall prepare a report to determine which will be administered by the Bank of the Institute of Social Security (Biess), announced...
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