Ecuador presents study suggesting reforms to the pension system

The diagnosis, prepared by a team of experts coordinated by the former president of the Central Bank of Ecuador warns that "If the system is not reformed, in 2 to 3 years, it will be tough for the IVM to honor the benefits."

RIO DE JANEIRO, BRAZIL - The government of Ecuador presented this Friday a diagnosis on the Social Security Disability, Old Age and Death (IVM) pension system and suggested reforms that cannot be postponed given its eventual unsustainability in the short term.

The study, presented by the Ministry of the Economy and the Ecuadorian Social Security Institute (IESS), was announced one month before President Lenín Moreno will hand over power to conservative Guillermo Lasso on May 24.

Lasso's campaign plan suggests "structural reforms" to social security to achieve a fair retirement for workers based on a new regulation. The system . . .

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