Presentations given at the International Seminar "Investments and Payouts in Funded Pension Systems", organized by FIAP in Warsaw, Poland, on 28th and 29th May 2009.
"During this seminar we will hear about all these effects, in both the fund accumulation and decumulation stages. We would therefore like to identify, through this seminar and the speakers participating in it, the main elements for dampening the effects of an economic crisis on pension funds, which is a risk that will always be present in the individually funded systems. Naturally, we will examine the issue of the multifunds and investment diversification. If one observes the performance of the pension funds one can see that they performed better than the stock exchanges, due precisely to the degree of diversification most countries have in pension fund portfolios.
We would also like to analyze the convenience of regulatory rules and regulations encouraging pension fund investments to be viewed in a long term horizon and doing everything possible for competition to be within such horizon.
We want to determine what the optimal investment portfolios are. We will see what new instruments are available for improving the performance of the pension funds. We also wish to determine the best modes for the retirement or decumulation stages."