Impuesto Renta/Adm. Fondo De Pensiones

[bienamor]

Fabio:

Why do Resident non citizens have to pay into the Adm. Fondo De Pensiones? My understanding is a non citizen will never be able to collect anything from this fund.

Kind of see the Impuesto Renta as this is the equivlant of the IRS in the US.

[HOWMAR]

Allow me, the following is from the Pellarano & Herrera web site www.phlaw.com.
"C. Principle that regulate the SDSS (Dominican System of Social Security)
a) Universality: by virtue of which the SDSS must protect all Dominicans and every resident of the country .

D. System Affiliation:
The folowing people will enter the system:
e) Foreign citizens with legal and permanent residence in the Dominican Republic.

A non-citizen, permanent Resident may collect. If you can show that you are already covered by a Social Security Plan in the country of your citizenship, you can be exempt from the Dominican Plan.

Hope this helps.

[bienamor]

Originally Posted by HOWMAR

Allow me, the following is from the Pellarano & Herrera web site www.phlaw.com.
"C. Principle that regulate the SDSS (Dominican System of Social Security)
a) Universality: by virtue of which the SDSS must protect all Dominicans and every resident of the country .

D. System Affiliation:
The folowing people will enter the system:
e) Foreign citizens with legal and permanent residence in the Dominican Republic.

A non-citizen, permanent Resident may collect. If you can show that you are already covered by a Social Security Plan in the country of your citizenship, you can be exempt from the Dominican Plan.

Hope this helps.

Thank you I stand corrected on never being able to collect.

[HOWMAR]

Originally Posted by bienamor

Thank you I stand corrected on never being able to collect.

The problem is you still may never collect. You have to be at least age 60 and have contributed for at least 360 months to collect "old age pension".