Pension fund administrators Popular AFP Popular and AFP Romana announced their merger, which was approved by the Superintendency of Pensions (SIPEN).
The measure seeks to expand coverage and strengthen the quality of service in the Dominican pension system.
The entity assured that the funds and individual accounts of the affiliates will not be affected, remaining under their ownership and regulatory supervision. Furthermore, it guaranteed continuity in services and an orderly transition.
With this integration, AFP Popular consolidates its leadership in the pension system, where it manages more than $428 billion pesos in pension funds and has 1.6 million affiliates.
The integration event was attended by Eduardo Martínez-Lima Gonzalvo, Executive Vice President of Central Romana; Dionisio Arturo Hernández, Comptroller Vice President of Central Romana; and Luis José Jiménez, Executive Vice President-General Manager of AFP Popular.
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The operation is being carried out under the current regulatory framework and will allow for operational efficiencies, more robust processes, and more agile and transparent service for members.
Luis José Jiménez, Executive Vice President and General Manager of AFP Popular, highlighted that this is a strategic integration that strengthens governance and raises service standards, always under the supervision of SIPEN and the competent authorities.
