Management of the Pension Savings System to ensure decent retirement for university and secondary education teachers in the city of San Miguel.

Abstract

The pension system established in El Salvador since 1998 is based on an individual capitalization model, in which affiliated workers are owners of a savings account in which the contributions they make are periodically deposited along with their contributions. employers.

This system is analyzed and evaluated in this article, which after more than two decades of experience shows certain cracks in its operation, expressing recurring concerns on the part of university and secondary education teachers, as well as the country's workforce in general, due to the lack of coincidence between the expectations that contributors have regarding the pension amounts to receive and those that they are actually obtaining, known as the replacement rate, which does not cover their basic economic needs, a problem generated by management-specific causes. of the system and situations that go beyond the pension regime itself.

Therefore, opinions were obtained regarding the topic, through the administration of online questionnaires to university and secondary education teachers who work in the city of San Miguel, and representatives of institutions that monitor the performance of the pension system were interviewed. in the country, which made it possible to identify perceptions, criticisms and propositions, delving into the visions and challenges that said system has to offer decent retirement conditions to its contributors.