Thursday, July 27, 2006

Social Security


In the year 2001, law 87-01 that creates the Dominican system of social security was promulgated. It covers both retirement pensions and healthcare. However, it is not yet fully deployed and the services provided are very limited.
If you plan to relocate to the Dominican Republic, you must take into account that wages earned here, or the corresponding contributions made to the Dominican social security system will not count towards your retirement pension benefits back in your home country. In order to receive the full benefits at the moment of retirement, it is advisable to keep making contributions to the homeland’s social security system. This is possible in most countries, although the minimum amount of the voluntary contributions might vary.
In any case, if you are a pensioner, you will be able to keep receiving your pension benefits from your home country when you relocate here.
It is a good idea to get private health insurance

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