Pension funds in Panama under review

The profitability information provided by the pension operators is under review by the National Securities Commission (CNV).

Thursday, January 29, 2009

Prensa.com reports: "The deputy president of the CNV, Juan Manuel Martans, explained that as the regulatory entity, they want to ensure that the investment portfolio are being adequately evaluated by the companies that are managing the pension funds.

Regarding the securities (brokerage) firms, a review of the assets of these companies is underway in order to verify that there is no type of deterioration that could affect their equity or capital."

More on this topic

Public Infrastructure Financed with Pension Funds

February 2013

93% of the $58 million raised by the securitization of future revenues of the International Airport of El Salvador were provided by Pension Funds.

Editorial

The administrators of the pension funds are obliged to invest mainly in government bonds, and this significantly affects the low returns earned by contributors in those funds.

El Salvador: $4.4 billion in pension funds

November 2008

The Pension Fund Association revealed during a forum held by El Diario de Hoy newspaper that the funds administered by the PFA have reached $4.4 billion.

15% of this amount is used for required purchase of Contingency Investment Certificates (CIP) issued by the Multi-sector Investment Bank (BMI) for the payment of pensions for public institutions.

Employers Question Pension Law Reforms

April 2012

The reform voted in in El Salvador raises the ceiling rate on the amount of government funds that can be used to pay Social Security pensions to 45% and reduces commissions for the AFPs to 2.2%.

The Legislature increased from 30 to 45 percent the ceiling on which government funds can be used to pay for INPEP and ISSS pensions, and decreased from 2.7 to 2.2 percent commissions to the AFP on Thursday when approving reforms to the Law on Pension Savings System (SAP in Spanish).

Nicaragua: Fundeser Becomes Financing Company

December 2012

Micro financing company Fundeser, also known as the Foundation for Socio Economic Rural Development will in February its formal application to become a regulated financial company.

Since 2008 there has been interest from the Foundation to be regulated by the Superintendency of Banks and Other Financial Institutions (Siboif), but the proceedings were suspended because of the financial crisis.

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