Transparency in Ecuadorian Social Security Contributions
The IESS (Ecuadorian Social Security Institute) has implemented a mandate requiring transparency and accessibility to data regarding the percentages and updated values of contributions sent to various insurance policies and funds. This information is crucial for insured individuals to understand their monthly contributions and how they are allocated.
Transparency Mandate:
Article 247.1 of the Social Security Law mandates the IESS to guarantee transparency and access to data on the percentages and updated values of contributions sent to different insurance policies or funds. This includes:
Monthly contribution actually paid
Percentage of contributions allocated to each insurance
Equivalent in securities or money
How to Access Your Contribution Data:
- Visit the IESS website.
- Locate the “Distribution of Affiliate Contributions” icon.
- Enter your ID number and key.
- Click on “Distribution Report” in the left section.
- Enter your member ID, year, month, and type of receipt.
Benefits of Transparency:
Ensures accountability and fairness in the contribution process.
Allows individuals to track their contributions and ensure they are allocated correctly.
Provides transparency regarding the costs associated with different insurance policies.
Source: LA HORA Newspaper