June 22, 2026 at – 11:05
The IPS Board of Directors, chaired by Isaías Fretes, ordered an immediate audit and fiscal transparency on its properties. The objective is to clean up accumulated debts and avoid failures in future private investment projects.
He Board of Directors of the Social Security Institute (IPS), under the presidency Isaiah Fretesanalyzed during the week the situation of the properties belonging to the institution, which total more than 700 properties.
In the last session, the situation of the building located on Piribebuy and May 14 in Asuncion. However, since Fretes assumed the administration on April 22 after the resignation of Jorge Britezthe situation of at least 10 IPS properties has already been analyzed, some abandoned and in great debt due to non-payment of taxes and other occupations but also with pension debts due to non-payment of social security fees. rent.
Given the uncertainty about the state of the assets and the existence of debts accumulated in the case of the Piribebuy building, the Council ordered an immediate audit of the Legal Directorate and a formal consultation with the Municipality of Asuncion to clarify the fiscal picture before moving forward with any new contract.
Vacant properties and unpaid debts
The report presented on the building located in Piribebuy and 14 de Mayo made it clear that, although possession of the units was recovered after a eviction trial in 2025, critical questions remain about the rental debts in default. The Council requested to clearly differentiate the judicial eviction process from the claim for the fees owed, demanding reports that specify the real status of the pending collections.
In addition, the councilors expressed their concern about the property tax status. “It is also important to ask for a report on how much our tax debt is. Have so many properties that do not contribute a guarani to the institution and you have to pay,” the members of the Council warned, pointing out that the lack of municipal foresight has been a historical burden.
Transparency as a condition for new leases
The Council’s position was clear: no new investment lease document can be approved without the interested party knowing the real situation of the property. The Council required that, in future competitions, an explicit record be made of any municipal debt existing.
Fretes was forceful in pointing out that the IPS must take care of each resource, especially in the current context where the institute needs to optimize each income. The order given to the Investment and Legal departments is to work in a coordinated manner to clean up the fiscal situation of rental properties, allowing pension properties to stop being a burden and effectively become productive assets for the insured’s fund.
Most relevant measures adopted in previous sessions:
1. Action against late payment and irregular occupations
- Hornet SRL: The Council ordered drastic measures against companies and individuals in default. A notable case is that of the firm Avispón SRL, which was ordered to evict and terminate its contract after detecting a debt of G. 2,400 million and a failure to make the promised investments (only 18% of the improvements were executed).
- Villa Santo Domingo: The IPS began actions to regain control of 40 homes on this property. It was detected that several tenants have not paid rent for more than a decade and that the fees were outdated. The Council notified the occupants with prices adjusted to the market value and is evaluating the sale of the land or the development of new projects, given that the current rent is negligible and the area is key for future expansions of the Central Hospital.
- Paraná Country Club: The IPS analyzed the critical situation of 16 properties in the exclusive country and in the face of deterioration and million-dollar debts, the entity seeks to implement a trust and new calls for bidding to guarantee its profitability.
- State Attorney General’s Office: It was revealed that Jorge Brítez’s administration rejected payments from the Prosecutor’s Office for a debt of G. 11,000 million. Now they are seeking to unblock the debt and regularize the rent of the property.
2. Transparency and tightening of requirements
- Rejection of privileges: The Council expressed its rejection of the direct sales and closed conteststightening the requirements for any auction or call for bids.
- Administrative sanitation: The audit of more than 700 properties has been ordered to clarify the real state of tax income and debts. The objective is for real estate to stop being a burden and become productive assets.
3. Asset and investment management
- Performance monitoring: Given a real estate portfolio valued at approximately US$300 million which generated an extremely low annual return (close to 0.92% – 0.95%), the Council requested technical reports to curb maintenance costs and increase profitability.
- Trusts and tenders: The implementation of trusts and new calls for bidding have been debated to guarantee that private investments in IPS properties have a clear fiscal outlook from the beginning, preventing previous debts from paralyzing investment projects.
4. Internal measurements
- Summaries to officials: One of the most forceful proposals within the Council has been to initiate administrative proceedings against those active officials of the institution itself who occupy IPS properties and maintain debts as tenants.
With these measures, the current administration seeks “heal” a legacy of administrative apathy, where the lack of judicial control and the outdated rental rates have eroded the assets of retirees for years.
