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31 January, 2016

FIAP signed Cooperation Agreement with the Ibero – american Organization of Social Security

 Its purpose is to study the pension systems and establish the criteria for consolidating the Ibero-American Social Security Agreement signed in November in the Heads of State Summit in Santiago.

The International Federation of Pension Fund Managers, FIAP, presided over by Guillermo Arthur, signed a cooperation agreement with the Ibero-American Social Security Organization, represented by its Secretary General, Adolfo Jiménez, in order to advance in the consolidation of the Ibero-American Social Security Agreement signed by the Heads of State and Governments in the recent Santiago Summit, through increased efforts in the sharing of knowledge and joint proposals.

The joint endeavor will concentrate on research, exchange of information, the promotion of international meetings and training activities in the social security field.

The Social Security Agreement, signed by 12 countries in Santiago last November, must become an Application Agreement, an extremely demanding task, since Latin American social security systems are different, even when comparing systems with an overall similarity, be they either individually funded or PAYGO.

Adolfo Jimenéz said that the aim of the agreement with FIAP was to study and become well acquainted with each country’s system, seeking the means to reconcile differences in order to enable the social protection of workers that migrate from one country to another.  He said this was not about the portability of the funds, but the portability of the benefits.

Guillermo Arthur said that the growing migratory currents of workers between one country and another demand the responsibility of establishing social protection mechanisms that include the individually funded systems, which, even though they have many similarities, also have differences, such as, for example, tax treatment of individual savings.

See attached file FIAP – OISS Agreement (in Spanish)

FIAP – OISS Agreement

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