Posted On 26 Sep 2016
Yields obtained by the Bank of the Ecuadorian Institute of Social Security (Biess) for its millionaire investments suffered a deterioration in April 2016 compared to April 2015. According to the latest report of the agency, issued in June but whose cut-off date is April 30, although the investedamounts rose, revenues went down.
While in April 2015 yields reached 8.26%, of a total investment of $ 15.895 million, this year these fell to 7.55% of a total investment of $ 17,529.9 million. This data is based on the report of the institution.
These yields are used to increase resources and to comply with the social security benefits, including health care and pensions, therefore, for the former intendant of Social Security Carmen Corral and the former member of the Board of the Biess Omar Serrano, is worrying that yields go down. Although Corral clarified that the minimum profit margin the resources must have is a 4% rate.