Pension Funds Administrators
in Central America
Thursday, January 5, 2012
The companies Consorcio Aliado and Progreso have been awarded the tender to manage for 5 years investments for the Capital Savings and Pensions of Public Employees (SIACAP in Spanish).
The contract was disputed with the consortium Multibank / Multisecurities and HSBC.
Tuesday, December 20, 2011
The Superintendency of Pensions is studying changing the rules for the transfer of members between companies, to reduce administrative costs.
The rate of transfer of members between pension operators (OPC) in Costa Rica is the highest in Latin America. In Mexico, Chile, Peru, Panama and Uruguay, the rate is less than 6%, while in Costa Rica it is 12%.
Wednesday, June 8, 2011
In April pension management companies totalled over $1,000 million in provisional funds.
The two private pension fund managers, Progreso y Profuturo, unite a total of 49,454 members distributed in 48.1% and 52.9% respectively.
Monday, January 31, 2011
99.99% of AFP Crecer was acquired for $103 million by Colombian company Protección S.A.
While the transaction has already been signed by both companies, the approval of financial supervisory authorities still remains.
Monday, January 25, 2010
In Costa Rica, investment funds grew 16% in 2009, in spite of losing almost 10% of their investors.
During the past financial crisis, the Costa Rican market turned out to be more stable than international markets, making it a relatively safer place for storing capital.
Thursday, November 26, 2009
Why pension systems need to evolve from individual capitalization to life-cycle portfolios.
"Individual capitalization systems arrived in Latin America 28 years ago, looking to replace generic systems. These systems are now considering what their next evolutionary step is. Some progress has been seen in Chile and Peru, were multiple pension plans are available for workers.
Monday, October 26, 2009
Business Magazine América Economía presented its 2009 ranking for the industry, along with an analysis of its key aspects.
América Economía's 2009 Pension Fund Administrator ranking lists the top 100 Latin American operators. Three are from Central America: Confía and Crecer from El Salvador, 46th and 50th, and Costa Rica's "Popular Pensiones", in the 96th position.
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