Reserve fund It is a benefit that the employee who is associated with Ecuadorian Social Security Institute (IESS) and that you have worked for the same employer for more than a year. This corresponds to 8.33% of the contribution fee.

The user can choose between collecting this amount with his monthly salary or saving it to his individual IESS account, for the latter he must submit a corresponding request. You must keep in mind that once an application has been accepted, it cannot be cancelled, and the accumulation period is 36 contributions.

This fund is a form of savings. In addition, reserve fund capital generates returns.

The amount accumulated in reserve funds is first guarantee for an unsecured loan. However, IESS points out that the money accumulated in the individual account of the unemployed also serves as a guarantee for this loan.

Savings with life insurance, a way to gain financial freedom if you don’t have access to IESS

How to withdraw funds for the unemployed from IESS?

In order for an active member to be able to withdraw funds from the IESS reserve, he must accumulate a minimum of 36 contributions. The status of these payments is reviewed and requested on the iess.gob.ec page, in the network services section, reserve funds. The identification number and code of the associate are entered there.

How to check your IESS reserve funds?

How to request IESS reserve funds?

In the case of unemployed associates, the withdrawal procedure must be completed in the offices for third-party funds of the respective Provincial Administration of IESS. While in the case of deceased affiliated companiesthe request is submitted by users or relatives in the departments and units for third-party funds of the respective Provincial Directorate.

To receive money, it is necessary for the member or debtor to register a bank account on the IESS website and confirm it at any Universal Service Center or IESS agency.