According with a pension advice Shropshire company, the General Pension System is responsible for recognizing and for paying the Old Age or Retirement, Invalidity and Survivors.You also acknowledge and pay the compensation in lieu of pension and funeral aid. There is a "Pension Solidarity Fund" which is intended to complement the contributions of the general pension scheme for employees or independent of rural or urban, which lack the resources to carry out all of the contributions.
Corporate Pension Fund Administrators and / or Severance
According with a pension advice Shropshire company, they are financial services companies whose main purpose is the administration of unemployment funds created by Law 50 of 1990, pension fund Individual Savings Scheme Solidarity dealing with Law 100 of 1993 (mandatory pension funds)pension funds and retirement and disability (voluntary pension funds) as well as other trust funds in the manner prescribed by law.
Basic structure of the system
According with a pension advice Shropshire company, the Social Security System Integral consists of the following subsystems: Pensions, Health and Social Services Professional Risk complementary.
Financing The General Pension System, the percentage of contribution for old-age pension is 10%, calculated on the Income Base, the appropriate fees are paid on savings accounts, pension, in the case of pension funds.In the case of Social Security Institute (ISS), the fees are used to pay old-age pension and capitalization of reserves, through the establishment of autonomous assets, exclusively for such purposes. To finance the disability pension, survivor’s pension and administrative expenses of the System, including reinsurance premiums Guarantee Fund, the contribution rate for both the ISS and for the Pension Fund is3.5%.The employer assumes 75% of total contributions, and works the remaining 25%.
In the case of independent workers, they themselves are responsible for the entire quote. Union members, whose base salary contribution is equal to or greater than four (4) legal monthly minimum wage must contribute one (1) percentage point, the exclusive responsibility of the worker, destination cone "Pension Solidarity Fund."
Solidarity Fund
The financial organization of the financial system and establishes a bond of solidarity between subsidized and tax regimes, through the Solidarity and Guarantee Fund.The Solidarity and Guarantee Fund has four (4) accounts: that of "solidarity", the "compensation", the "Promotion" and "Accounts Catastrophic".The Solidarity Fund has used its resources to support the development of subsidized regime, and their progressive integration and homogenization with the contributory scheme.
Occupational Hazards
The NZL system, the contribution rate is variable and corresponds to the classification made by the Act, the workplace or enterprise the worker, or the different centers, if they allow a difference in theactivities performed, taking into account this classification the following criteria: Economic Activity Index disabling injuries and compliance of Occupational Health.In this system, the majority of the comments are the sole responsibility of the employer.
The amount of contributions paid by the employer shall not be less than 0.348% or 8.7% higher than the contribution base of workers.