Last July 27, FIAP and the Brazilian Association of Pension Funds (Associação Brasileira das Entidades Fechadas de Previdência Complementar – ABRAPP), signed a Technical and Cultural Cooperation Agreement to bolster the development of private pensions in the region, enabling the attainment of mutual advantages from shared work and experiences between both institutions.

The Agreement aims at cooperation between the parties in holding and participating in congresses, events, and other experiences and cultural exchange initiatives, and the development and pooling of technical and cultural studies for the development and promotion of social security and private pension and investment markets.

ABRAPP is a non-profit organization that represents the common interests of the agencies that manage occupational (or “closed”) pension plans, known in Brazil as Closed Supplementary Pension Agencies (EFPC). Throughout its 45 years of existence, the Association has maintained a productive and effective dialog with the authorities, the most relevant stakeholders of the Brazilian market, as well as academic institutions, being recognized as a leading group in the defense of shared values such as excellence, ethics, credibility, generation of value , integrity, leadership, innovation and sustainability. Based in the city of Sao Paulo, the main business hub in Brazil, ABRAPP has established a network of professionals gathered in working groups and technical commissions at the regional and national levels, providing an environment conducive to the exchange of ideas and experiences, research, and participation of members. It also serves as a channel for the exchange of knowledge regarding international best practices.

“This Agreement is undoubtedly a great step towards achieving greater rapprochement between both institutions, and through the exchange of ideas, experiences, information and studies, will enhance the development and understanding of social security systems in the region, particularly in understanding the key role of individual savings systems in the construction of workers’ pensions,” said FIAP President Guillermo Arthur.

“This Agreement further involves us in the world order of social security systems, since we will be able to learn about positive experiences in the promotion and sustainability of Private Pensions verified worldwide,” commented the Director-President of ABRAPP, Jarbas Antonio de Biagi. He added that ABRAPP will also be able to share the initiatives developed in the Brazilian market with institutions in other countries.