Ramiro Gonzalez minimizes IESS actuarial work

Ramiro Gonzalez

Ramiro Gonzalez said in one of his last appearances as chairman of the Board of the Social Security Institute (IESS), the importance to the consulting Actuary report, which warns that the actuarial deficit of the IESS pension fund has almost doubled itself. He added that by 2050 it is expected that the contributions made by those affiliated may not be enough to pay pensions.

Gonzalez explained that there is an actuarial deficit in the pension funds around the world and added, “There are projects to be made in 2050. These values are referential, if the proper corrections are not made, not that it is needed now.”

He added that it is important to analyse the actuarial deficit per capita. “If you enter a larger number (of members), as we have done with millions and of Ecuadorians, obviously the deficit will grow. But the important thing is to see how the management will reduce the deficit per capita, and that has decreased and it says the report itself.”

In addition, Gonzalez said that one of the reforms aims to increase the age for retirement. “There are people who are 60 years and are still extremely active at that age and do not want to retire.” The report analyses of the Actuary will be handed to Fernando Cordero, with whom Gonzalez would maintain several meetings tomorrow for the transition charge.