FIAP Seminar 2019

THE DEPÓSITO CENTRAL DE VALORES (DCV) ATTENDED AS THE SPONSOR OF THE FIAP SEMINAR 2019.

On May 15th and 16th at the W Hotel in Santiago, the XVII FIAP International Seminar, titled “Pension Systems for a Changing World”, brought together international experts, FIAP members, authorities and representatives of fund administrators, mutual funds and insurance companies from different regions of the world, as well as prominent people related to the financial and social security areas.

The 2019 FIAP event was jointly organized by the International Federation of Pension Funds Administrators (FIAP) and the Association of Pension Funds Administrators of Chile. The seminar addressed topics of interest for the industry and the challenges it faces, such as structural changes in the labor market, new trends in the world of investments, second-generation reforms to pension systems, technology as an ally in the pension system and incentives for voluntary savings.

Among the main panelists attending the 2019 FIAP Seminar were Pablo Antolin-Nicolas, Chief Economist of the OECD; Francesco Briganti, Secretary General of the Cross-Border Benefits Alliance of Europe (CBBA-Europe); Ricardo Hausmann, Director of the Center for International Development at Harvard University; Nicolás Monckeberg, Minister of Labor and Social Security of Chile; Mariano Bosch, Pension Coordinator of the Labor Markets Division of the Inter-American Development Bank (IDB); Renee Schaaf, Chairman of Retirement and Income Solutions, Principal United States; Pablo Sprenger, CEO of Investment Management at SURA; Guillermo Arthur, Chairman of FIAP; Codie Sánchez, Head of Distribution of Offshore Investments in Latin America and the United States for First Trust Portfolios; among other important actors in the industry.

In the different panels and presentations, relevant data and recent experiences of the international pension systems were shown; trends and the principles of pension reforms in Chile and the world, their difficulties and solutions; advances in incentives and voluntary savings mechanisms; the impact of digital transformation and the use of technology in the pension and insurance industry.

Successful cases of technology use aimed to encourage savings and increase engagement with clients were shown, such as the AforeMovil (Mexico) app case and Principal’s app. Regarding the Mexican case, through the mobile app, the number of people who made voluntary savings increased by 13%, and total voluntary savings increased by 54%.

The global economy and its impact on Latin America were also addressed, and new trends and investment alternatives, including real estate and the transformation of insurance management for the institutional market.

Some conclusions gathered from the presentations shown at the FIAP Seminar 2019:

• If we foresee the issues in the pension system, it may be possible to apply a gradual reform and reduce the impact (Nicolás Monckeberg).
• Voluntary savings play a key role in financial security (Rene Schaaf).
• The AFPs could play a key role in financing transportation infrastructure projects (Ricardo Hausmann).
• It is necessary to gain people’s trust in financial institutions (Pablo Sprenger).
• The key to saving successfully has been personal advice (Pablo Sprenger).
• The only way to have better pensions is to contribute more and for longer periods (Pablo Antolín).

PFor more information on the FIAP Seminar 2019 visit seminariofiap2019.com and follow the news on our página de LinkedIn.

DCV News