Posted On 14 Mar 2017
The financial situation of the Ecuadorian Institute of Social Security (IESS) is in question. For its part, the current administration defends its actions and ensures that there are sufficient resources to cover health benefits and pensions for retirees. Detractors, meanwhile, insist that the Social Security walks to the cliff and that there are no resources to guarantee future pensions.
Presidential hopefuls Guillermo Lasso (CREO) and Lenin Moreno (PAIS) have clear their stance on this state agency with 3.1 million contributors and a population of 9.1 million beneficiaries, including retirees, active affiliates, and their dependents.
The two aspirants to the presidency agree that the IESS is a conerstone in the development of the country, but their plans differ.
Lasso is not only in favor of returning the 40 percent of the state contribution to the jubilee pensions, but rather recognizing all the debts the state has with the agency, including that of $ 2.5 billion for health care to its affiliates. To this end, he even proposes to create a fund to cover those debts.
Moreno does not speak of recognizing that contribution by law but guarantees the payment not only of that percentage but of 100 percent of the jubilee pensions if necessary. As for the debt, the government candidate says he will wait for the result of the external audit to the balance sheets the National Audit Office is conducting to issue a statement on how that issue will be resolved.