Resolution No. CD.460 of the Management Council of the Ecuadorian Social Security Institute (IESS) was published in Official Register 155 on 6 January 2014, issuing the “Regulations of the Special Voluntary Social Security System of the Ecuadorian Social Security Institute”.
The Regulations determine that any person, whether Ecuadorian or resident in Ecuador, who is more than 18 years of age, undertakes self-employed activities and who is not subject to the General Mandatory Social Security may enroll with the IESS Special Voluntary Social Security System. Those who wish to enroll must not be in default or have pending obligations to the IESS as a voluntary member.
Members of the IESS Special Voluntary Social Security will be covered for the following risks: Illness, maternity, paternity, work risks, severance, unemployment, old age, incapacity, disability, death and those set in Law.
The total value of monthly contributions for Voluntary Insurance is 20.50% of the established base that cannot be less than one current basic unified salary. Ecuadorian grant holders who reside abroad may enroll by contributing the corresponding percentage calculated against 50% of said base. Additionally, “all IESS members shall contribute an additional 0.10% of the base subject to contribution to finance benefits established in the Organic Law on Disabilities”.
Voluntary members may register a request to cancel their membership at any time and may renew their membership with a new request. However, in the case that a contribution is not recorded within thirty days, the system will automatically register their exit from the Special Voluntary Social Security System.
A “waiting time” will not apply to members who transfer from the General Mandatory Social Security to the Special Voluntary Social Security System or vice versa.
Voluntary members may simultaneously make contributions to other social security programs of the IESS or, in the case of foreigners, to social security programs in their country of residence. With the IESS, they may also save a monthly sum equivalent to 8.33% of the base subject to contribution as a reserve fund, for which they must notify the IESS of their decision. Those who receive old age pensions or widows’ pensions in the IESS, the Armed Forces Social Security Institute (ISSFA) or the National Police Social Security Institute (ISSPOL) may access the Special Voluntary Social Security System without losing their pensioner status.
The spouse or common-law spouse of the voluntary member may access health benefits by paying an additional premium determined by the IESS. Similarly, members may extend health benefits to cover their children over 18 years of age and under 25 years of age with an additional payment of a percentage that will be established by the Management Council of the IESS.
Voluntary members may access signature loans and mortgage loans for the purchase, construction or renovation of real property located in the national territory. The conditions to access these loans shall be the same as those required of General Mandatory Social Security members.
Ecuadorians who are resident abroad may join the Special Voluntary Social Security System. They may request medical appointments by taking into account the anticipated date of their temporary stay in national territory, and the economic benefits corresponding to them shall be delivered through bank transfers to their designated account or any other mechanism established by the IESS.
January 6, 2014