FIAP INFORMATIVE BULLETIN
April 2011: year 13, No. 1
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Highlights
2011 FIAP International Seminar “Advancing in the Strengthening and Consolidation of the Individually Funded Pension Systems”
The International Federation of Pension Fund Administrators (FIAP), together with the Dominican Association of Pension Funds Administrators (ADAFP), is...
   
IMF creates a new fiscal indicator that provides a level playing field for the evolution of a country's pension policies
Adopting the suggestion put forward by the International Federation of Pension Fund Administrators (FIAP), the International Monetary Fund (IMF) has just...
   
Opinion column of FIAP President: "The pension systems based on savings and individual funding have emerged from the global economic crisis stronger than before
  Guillermo Arthur FIAP President Chairman of the Chilean Trade Association of AFPs Economic crises are events that are relatively frequent in the development...
   
The Ibero-American Multilateral Convention on Social Security comes into effect on May 1, 2011
Source: www.oiss.org Date: April 5, 2011 Due to the imminent enforcement of the Ibero-American Multilateral Convention on Social Security, the Ibero-American...
   
FIAP receives delegations of Kazakhstan and Colombia
In the photograph, part of the Kazakh delegation together with FIAP team.Between January 10 and 13, 2011, the International Federation of Pension Fund...
   
Malawi adopts the mandatory individual accounts system
Source: www.ssa.gov Date: April 2011 On March 1, 2011, the Malawian parliament passed a law that establishes a mandatory individual accounts system for...
   
The Peruvian Association of AFPs Appoints a new Board of Directors
Mr. Pedro Flecha Zalba resigned from the Chair of the Peruvian Association of AFPs as of March 24, 2011, and Mrs. Beatriz Merino Lucero assumed the Chair...
   
International News
Bolivia
Bulgaria
Chile
Colombia
Costa Rica
Slovakia
Slovenia
Spain
Finland
Guatemala
Hungary
International
Malaysia
Malawi
Mexico
Norway
New Zealand
Panama
Paraguay
Peru
Poland
Dominican Republic
Ukraine
Uruguay
   
Articles of Interest
Pension Funds’ Performance in Strongly Regulated Industries in Central Europe: Evidence from Poland and Hungary - Discussion Paper No. 10-076, Centre for European Economic Research – September 2010
This paper presents an analysis of pension funds' performance in Poland and Hungary, two Central European countries characterized...
Multi-funds in the Chilean Pension System - BBVA Research - October 2010
This work describes the development of the multi-fund scheme in Chile, as well as its key features and results. It includes...
How Financial Literacy and Impatience Shape Retirement Wealth and Investment Behaviors - Michigan Retirement Research Center - October 2010
Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people...
The Efficient Frontier and the Limits on Investment for Pension Plan Administrators (AFP): A New Perspective – Journal of Economics, Finance and Administrative Science – December 2010
This article provides a re-estimation of the pension plan funds administrators’ efficient frontier. The goal here is two-fold:...

The AFPs are cheaper and more profitable than other savings managers – Chilean Pension Fund´s Association – December 2010
This issue of the Research Series indicates, among other things, that the AFPs charge for managing the mandatory savings...
Challenges of the mandatory funded pension system in the Russian Federation – The World Bank - December 2010
The overwhelming number of contributors that have been allocated into the default option is one of the main characteristics...
Individually-Funded Systems Recover from the Crisis, Whereas Pay-as-you-Go Systems Reduce their Members’ Benefits – Chilean Pension Fund´s Association - January 2011
This number of the Research Series indicates that individually-funded systems have a flexible structure that allows them...
The impact of Spanish pension reform on expenditure: A quick estimate - BBVA Research - March 2011
In this paper the authors present a preliminary estimate of the impact of the recent agreement between the Spanish government...
The unavoidable role of private pensions in retirement income systems - BBVA Research – March 2011
This work describes the growing need that governments face to reform their pension systems into more financially sustainable...
Fiscal Monitor “Shifting Gears: Tackling Challenges on the Road to Fiscal Adjustment” - IMF - April 2011
The Fiscal Monitor was launched in 2009 to survey and analyze the latest public finance developments, update fiscal implications...
A Fiscal Indicator for Assessing First and Second Pillar Pension Reforms - IMF – April 2011
Traditional deficit and debt indicators focus on the health of public finances today but fail to capture the future impact...
Books
Pension reforms in Latin America: Balance and challenges ahead - Pensions & Insurance and BBVA Research - December 2010
This book is the result of a series of studies contributed by different researchers who have participated in the BBVA goal...
Annuities and other retirement products: designing the payout phase – The World Bank - January 2011
This book examines recent changes in the landscape of retirement products and annuity markets in five countries. All the...
Pensions at a Glance 2011: Retirement-income Systems in OECD and G20 Countries - OECD - March 2011
The theme of this fourth edition of Pensions at a Glance is pensions, retirement and life expectancy. Many countries have...
Presentations in Seminars
2010 AIOS International Seminar - December 2010
The 2010 AIOS International Seminar, denominated “Multiple Funds and Pension Benefits,” jointly organized by the International...
2nd OECD/IOPS MENA Workshop on Private Pension Supervision and Regulation - March 2011
The 2nd OECD IOPS Workshop on Pension Supervision and Regulation was held in Amman, Jordan on 1-2 March 2011 and was jointly...
Bulletins
Informative Bulletin No. 31 ASOFONDOS - December 2010
This number of the bulletin highlights the fact that in December, 2011, the workers who were members of the mandatory pension...
Multifunds Bulletin No. 31, Chilean Association of AFPs - December 2010
The High Yield of 2009-2010 brought in USD 40,000 Million to the Pension Fund The Chilean Association of AFPs issued its...
EFRP Newsletter, Volume 5 - December 2010
The EFRP (European Federation for Retirement Provision), published its Newsletter for the month of December, 2010. In this...
Long-term returns in Peru’s private pension system – Pension Watch BBVA Research – December 2010
This document contains a series of simulation exercises that are useful for modeling the profitability of the private pension...
Pension risk in pension systems – Pension Watch BBVA Research – March 2011
This document indicates that pension risk is defined by the variability of the expected replacement rate. It is therefore...
The Role of Pension Funds during the Financial Crisis – Pension Watch BBVA Research – March 2011
This paper reviews the performance of pension funds as financiers in the private sector, given the contraction in bank credit...
Upcoming Events
Year 2011
April
2011 Social Security Week – April 27-29, 2011 – Mexico City
The 2011 Social Security Week, to be held in the head offices of the CISS in Mexico City from Wednesday April 27 to Friday...
May
Fourth International Congress FIAP - ASOFONDOS - May 5 and 6, 2011 - Cartagena de Indias, Colombia
The International Federation of Pension Fund Administrators, FIAP, and the Colombian Association of Severance Pay and Pension...
2011 FIAP International Seminar - May 19 and 20, 2011
The International Federation of Pension Fund Administrators (FIAP) is pleased to invite you to the 2011 FIAP International...
June
2011 LAVCA Chile Forum – June 2, 2011 – Santiago, Chile
The Latin American Venture Capital Association (LAVCA), is busy organizing the 2011 LAVCA Chile Forum to be held on June...
November
World Pension Summit 2011 – November 2 – 4, 2011 - Amsterdam, Holland
The WorldPensionSummit is organizing the WorldPensionSummit 2011, to be held in Amsterdam, Holland, from November 2 - 4,...