Impact of workers’ individual savings addressed at Amafore 2023 Meeting

The Superintendency of Pensions participates in the Amafore 2023 Meeting, held at the Citibanamex Center in this city, which aims to analyze global trends in pensions and the challenges, in order to obtain adequate returns for the benefit of workers.

Francisco A. Torres, Superintendent of Pensions, emphasized that the participation of the Dominican Republic in this conclave is of great relevance, since from a global perspective it is possible to visualize how the savings destined for the retirement of workers are and will be impacted, at the same time that proposals for sustainable investment alternatives are socialized, which contribute to the improvement of the pension systems.

In the same context, Guillermo Arthur, president of the International Federation of Pension Fund Administrators (FIAP), reported that 60% of those over 65 years of age do not receive a contributory pension in Latin America, due to the labor informality that afflicts the region, which brought about the exploitation of tools to mitigate its impact.

He also highlighted the advantages of alternative instruments to improve the profitability of investments, which are already present in the negotiation portfolios of many countries, where the first generations of workers have tripled the amount of contributions, thanks to the robust management carried out by the administrators.

Among the topics developed during the two days of the meeting, the following stand out: sustainable financing, alternative investments, technology in the field of pensions, social capitalism, challenges of responsible investment and behavioral economics. These topics are addressed by renowned international companies and exhibitors such as BlackRock, CME Group, Amundi, Axa Investment, Thomabravo, UBS, Market Axess, Discovery Americas, among others.

The Amafore 2023 Meeting, organized by the International Federation of Pension Fund Administrators (FIAP), in conjunction with the Mexican Association of Retirement Fund Administrators (AMAFORE), was held on October 23 and 24, 2023.

Actors from the Dominican Pension System and the Dominican financial system were present, such as the Dominican Association of Pension Fund Administrators (ADAFP) and its members, and the Association of Stock Brokers of the Dominican Republic (APB) and its members.

Source:presidencia.gov.do

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