Growth in personal income, attractive yields and greater awareness about saving are driving interest in investing for retirement.
The pension market has been growing by nearly 25% a year, with assets under management which today are worth around $300 million. This is despite the fact that of the over half a million people working in Panama only 61,631 (3.8%) are enrolled in some form of private pension fund, which demonstrates the high potential for growth this market has.
Up to December 2012 pension management companies had a total amount of funds of $288 million, $59 million higher than the figure in 2011.
The average growth in the past year 2012, was approximately $4 million per month.
According to information from the Superintendency of Securities, as of November of the total assets that make up the private pension system, Progreso has a portfolio of $114.4 million (a 48.1% stake) and ProFuturo has a portfolio of $159.4 million (a 52.9% stake).
Technisys is the omnichannel digital banking company. It offers technology solutions that allow banks to stand out through their customer experience, increase their sales and dramatically reduce their time-to-market when it comes to launching new financial services. Technisys culture lies on its innovation, its human capital talent and its vision of the future. The digital age represents an unprecedented growth opportunity for the financial service providers, and Technisys helps its customers to differentiate and capitalize it.
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