The eleventh version of the FIAP International Seminar “Individual Savings: Better Pensions plus Economic Development”, coincided with the holding of the sixth FIAP-ASOFONDOS Congress. Both meetings were organized by the International Federation of Pension Fund Administrators (FIAP) and the Colombian Association of Severance Pay and Pension Fund Administrators (ASOFONDOS) and held on April 11 and 12, 2013, in the Hilton hotel, in Cartagena de Indias, Colombia.

The purpose of the seminar was to analyze the participation and integration of the individually-funded programs in pension systems, as well as their trends and challenges for obtaining adequate replacement rates. Within this context, the impact of the creation and development of these programs on the economy of countries, growth, employment and capital market was analyzed.

To achieve this goal, two sessions were held on the first day of the seminar. The first one addressed the issue of pension fund investments from the standpoint of the industry and regulators. The second session analyzed the reforms that have been introduced and the outlook for pension systems, especially the individually-funded programs. It was also assessed the impact that such reforms and trends could have on the functioning of the individually-funded programs and their consistency with the fundamental principles on which these systems are founded. An attempt was also made to identify the most significant challenges facing the pension systems for achieving the objective of providing adequate pensions for their members in the long term, the design and operational aspects that require changes for meeting such objectives, and the constraints due to deficiencies in the functioning of other related markets.

The first session of the morning of the second day analyzed the virtuous circle formed by the development of the individually-funded systems and the economic development of countries. The afternoon session analyzed the interdependence between the labor market and the pension system and the experiences, lessons and recommendations arising from the implementation of public policies in labor and Social Security matters.

This seminar coincided with the celebration of the eighteenth anniversary of the individual savings system in Colombia and the XVII FIAP Annual Assembly. As on previous occasions, the event was attended by international experts who discussed their experience and knowledge of different topics of interest, and participants from different regions of the world (FIAP members and others), including government authorities, members of Parliament, officials of international agencies, representatives of pension and mutual fund managers and insurance companies, and other personalities related to the financial and social security areas.

You can download the academic program of the seminar as well as all the presentations, at the bottom of this page.