PUERTO RICO - The Government Development Bank (GDB) has postponed a proposed $2.4bn issue of pension obligation bonds slated for this week, citing poor market conditions.
Irizarry said: "We are committed to the financial plan we have outlined for the pension system, especially the sale of the pension obligation bonds, which are paid from statutory employer contributions."
The GDB added the retirement system's Plan of Finance hoped to issue up to $7bn of bonds this year for the national pension scheme, depending on how the market developed.
Irizarry added: "We must protect the interests of the system's beneficiaries and are not going to offer the bonds under less than adequate conditions."
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers