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We are pleased to invite you to attend the eleventh version of the FIAP International Seminar "Individual Savings: Better Pensions plus Economic Development", which will coincide with the holding of the sixth FIAP-ASOFONDOS Congress. Both meetings will be 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 is 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 will be analyzed.
To achieve this goal, two sessions will be held on the first day of the seminar. The first one will address the issue of pension fund investments from the standpoint of the industry and regulators. The second session will analyze the reforms that have been introduced and the outlook for pension systems, especially the individually-funded programs.  It will also assess 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 will also be 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 will analyze the virtuous circle formed by the development of the individually-funded systems and the economic development of countries. The afternoon session will analyze 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 coincides 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 will be attended by international experts who will discuss 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.

We would be very pleased to receive you in Cartagena de Indias, Colombia, in April, 2013, considered the most important tourist destination in Colombia, due to its history, people and tourist attractions.


Guillermo Arthur




Santiago Montenegro