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Vice Minister Urges Viewing IPS Contributions as Investment, Not Expense
🇵🇾 Paraguay /Economy & Trade

Vice Minister Urges Viewing IPS Contributions as Investment, Not Expense

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

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  • Paraguay's Vice Minister of Employment and Social Security, Verónica López, urged citizens to view contributions to the Social Security Institute (IPS) as an investment, not an expense.
  • López highlighted that IPS contributions cover more than just medical care, including benefits like maternity subsidies and retirement pensions.
  • Despite ongoing shortages of medicines and supplies, she asserted that the IPS system offers broad coverage and financial security for workers.

Paraguay's Vice Minister of Employment and Social Security, Verónica López, is urging citizens to reframe their perspective on contributions to the Social Security Institute (IPS), emphasizing it as a long-term investment rather than a mere expense. This call comes amid challenges faced by the IPS, including a notable crisis in the supply of medicines and medical supplies.

López defended the social security system, attributing the rise in insured individuals to increased formal employment in the country. She stated that both employers and employees now better understand the benefits and responsibilities associated with social security contributions. The vice minister pointed out that the IPS offers a comprehensive package of benefits that extends beyond medical attention.

People have to understand that contributing to social security is a broad guarantee, not just a medical part, but that they have to trust the social security system to be covered for all these contingencies.

— Verónica LópezThe Vice Minister of Employment and Social Security explained the comprehensive nature of social security contributions.

"People have to understand that contributing to social security is a broad guarantee, not just a medical part," López explained. She stressed that the system provides economic benefits such as subsidies for maternity leave, sick leave, and retirement pensions. "We encourage people not to think of social security as an expense, but as a long-term investment," she added, aiming to build trust in the system despite its current difficulties.

While López avoided direct comments on the ongoing health crisis stemming from the lack of medicines, she assured that the IPS continues to fulfill its obligations regarding economic compensation payments to its members. The institute, currently headed by Isaías Fretes, faces persistent complaints from insured individuals due to the critical shortages, but the vice minister's remarks aim to reassure the public about the system's broader value and commitment.

We encourage people not to think of social security as an expense, but as a long-term investment.

— Verónica LópezLópez urged citizens to view their contributions to the IPS as a valuable long-term benefit.
DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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