Past events
International Seminar Developing the Potential of the Individually Funded Pension Systems
On May 6 and 7, 2010 in Vina del Mar, Chile took place the International Seminar Developing the Potential of the Individually Funded Pension Systems.
The main purpose of the Seminar organized by FIAP together with the Chilean AFP Assoctiation was to identify means and instruments whereby the pension fund managers can broaden their current efforts for solving the pension problem and furthermore, extend them to other areas of interest so as to improve the quality of the population s social security protection.
There was three approaches for meeting this objective. In the first place, different ways were explored in which the individually funded programs can extend their coverage to sectors of the population that are not currently engaged in pension saving or are doing so through other types of vehicles that are less appropriate for providing an effective solution to the pensions issue. Secondly, ways were explored whereby the pensions industry can take advantage of its experience and capacity for attending to other social needs of the population. Finally, organization and process alternatives that enable improving the operational management and effectiveness of the industry were analyzed.
You may download the presentations made by each speaker at this Seminar here.
The main purpose of the Seminar organized by FIAP together with the Chilean AFP Assoctiation was to identify means and instruments whereby the pension fund managers can broaden their current efforts for solving the pension problem and furthermore, extend them to other areas of interest so as to improve the quality of the population s social security protection.
There was three approaches for meeting this objective. In the first place, different ways were explored in which the individually funded programs can extend their coverage to sectors of the population that are not currently engaged in pension saving or are doing so through other types of vehicles that are less appropriate for providing an effective solution to the pensions issue. Secondly, ways were explored whereby the pensions industry can take advantage of its experience and capacity for attending to other social needs of the population. Finally, organization and process alternatives that enable improving the operational management and effectiveness of the industry were analyzed.
You may download the presentations made by each speaker at this Seminar here.
International Conference
18 September 2009, Sofia, Bulgaria
The International Conference “MULTIFUNDS – IMPLEMENTATION AND PROSPECTS IN THE PENSION SYSTEMS OF THE CENTRAL AND EASTERN EUROPEAN COUNTRIES”, was held on 18 September 2009 in Sofia, Bulgaria. The conference was organized by BASPSC and is included in the conference calendar of the EFRP for 2009.
Associations and organizations of pension funds from the CEEC countries, including members of the CEEC Forum of EFRP, members of the Sofia AD HOC group, representatives of the European commission and the World Bank, supervising institutions took part in the conference. More than 20 European countries participated in the conference. From Bulgarian side there were representatives of the legislative and executive authorities, public and non-governmental institutions, the pension funds management industry, insurers and mutual funds, academia, and other stakeholders in the social security area.
The specific occasion were the rising need for discussion and exchange of information among the countries regarding the achievements and results, the preparation and practical steps for implementation of multifunds in the activity of supplementary pension security.
Presentations...
You can view the photos from the conference here.
Associations and organizations of pension funds from the CEEC countries, including members of the CEEC Forum of EFRP, members of the Sofia AD HOC group, representatives of the European commission and the World Bank, supervising institutions took part in the conference. More than 20 European countries participated in the conference. From Bulgarian side there were representatives of the legislative and executive authorities, public and non-governmental institutions, the pension funds management industry, insurers and mutual funds, academia, and other stakeholders in the social security area.
The specific occasion were the rising need for discussion and exchange of information among the countries regarding the achievements and results, the preparation and practical steps for implementation of multifunds in the activity of supplementary pension security.
Presentations...
You can view the photos from the conference here.
International Seminar
Warsaw, Poland
28-29 May 2009, Warsaw, Poland
The International Seminar “Investments and Payouts in Funded Pension Systems”, jointly organized by the International Federation of Pension Fund Administrators (FIAP) and The Polish Chamber of Pensions (Izba Gospodarcza Towarzystw Emerytalnych, IGTE), was held on May 28 and 29, 2009, in Warsaw, Poland.
In the Seminar was promoted the discussion of the best practices and regulations on several issues related both to the accumulation and decumulation stages of funded pension systems.
On the first day of the Seminar, several subjects related to the evaluation of the performance of pension fund investments, the analysis of new financial instruments and portfolio investment strategies for pension funds were discussed. The impact of the current financial crisis on funded pension systems also was considered. On the second day of the Seminar different issues related to the design of pension modes and the development of efficient markets for pension products were analyzed. Finally, the outlook for the Polish and European pension systems was examined.
This Seminar coincided with the celebration of 10th anyversary of Polish pension funds and FIAP’s Annual Assembly. This Seminar was the seventh conference in a series initiated in 2002. As on previous occasions, more than 200 participants particpated from different parts of the world (FIAP members and others), including government authorities, members of parliament, officials from international agencies, representatives of pension fund managers, mutual funds, the insurance industry and other personalities related to the social security sphere.
You may download the presentations made by each speaker at this Seminar here.
The International Seminar “Investments and Payouts in Funded Pension Systems”, jointly organized by the International Federation of Pension Fund Administrators (FIAP) and The Polish Chamber of Pensions (Izba Gospodarcza Towarzystw Emerytalnych, IGTE), was held on May 28 and 29, 2009, in Warsaw, Poland.
In the Seminar was promoted the discussion of the best practices and regulations on several issues related both to the accumulation and decumulation stages of funded pension systems.
On the first day of the Seminar, several subjects related to the evaluation of the performance of pension fund investments, the analysis of new financial instruments and portfolio investment strategies for pension funds were discussed. The impact of the current financial crisis on funded pension systems also was considered. On the second day of the Seminar different issues related to the design of pension modes and the development of efficient markets for pension products were analyzed. Finally, the outlook for the Polish and European pension systems was examined.
This Seminar coincided with the celebration of 10th anyversary of Polish pension funds and FIAP’s Annual Assembly. This Seminar was the seventh conference in a series initiated in 2002. As on previous occasions, more than 200 participants particpated from different parts of the world (FIAP members and others), including government authorities, members of parliament, officials from international agencies, representatives of pension fund managers, mutual funds, the insurance industry and other personalities related to the social security sphere.
You may download the presentations made by each speaker at this Seminar here.
Conference "Private Pension Systems in the Central and Eastern European Countries"
Budapest, Hungary
The CEEC Forum* conference – Private Pension Systems in the Central and Eastern European Countries, took place on 24 March 2009 in Budapest, Hungary.
*The CEEC Forum is the platform for the private pension funds industry in the CEE region. It brings together, under the wings of European Federation for Retirement Provision (EFRP), representatives from private pension institutions – operating both mandatory and voluntary systems from new the CEE region that over the past decade have introduced multi-pillar pension reform.
You can download all presentations from the conference here.
*The CEEC Forum is the platform for the private pension funds industry in the CEE region. It brings together, under the wings of European Federation for Retirement Provision (EFRP), representatives from private pension institutions – operating both mandatory and voluntary systems from new the CEE region that over the past decade have introduced multi-pillar pension reform.
You can download all presentations from the conference here.
10 Years BASPSC
Sofia, Bulgaria
On December 12, 2007 the Bulgarian Association of Pension Security Companies celebrated its 10th anniversary at the Sheraton Hotel Balkan. This was a vivid public recognition of its activities. The jubilee ceremony was also an occasion to look back and consider the achievements in the supplementary retirement provision area during the ten-year period. In addition, the Association granted its annual journalist awards and marked the coming Christmas and New Year’s.
The jubilee ceremony was attended by Minister of Labour and Social Policy Emilia Maslarova, Chairman of Labor and Social Policy Parliamentary Committee Hassan Ademov, President’s Social Policy Secretary Nikolay Nikolov, Financial Supervision Commission Chairman Apostol Apostolov, National Social Security Institute Governor Yordan Hristoskov, BNB Deputy Governor Dimiter Kostov, Deputy Minister of Finance Dimiter Ivanovski and many other institution heads and officials from the Ministry of Labor and Social Policy, Ministry of Finance, National Social Security Institute and Financial Supervision Commission, Economic and Social Council, the national trade unions and employer organizations, as well as other governmental and non-governmental institutions contributing to the implementation of the country’s pension reform, the perfection of the legal framework, and the development f the pension companies.
The BASPSC chairman presented to the participants a short analysis of the achievements, developments and future trends of the Association and the pension reform in which he stated that “The establishment of BASPSC in 1997 marked an important stage in the development of the supplementary retirement provision sector in Bulgaria, because it was namely the consolidation that enabled the pensions business to participate, through its organization, in all stages of preparation and implementation of the country’s pension reform, and that played an important part in defining the strategy and goals of the reforms as well as contributing to the quality of the new relevant legislation.
BASPSC and its members – the pension companies – are the ones implementing the most important and significant element of the pension reform – building and operating the second and third pillars of the pension system.
Over the ten years of its existence the Association managed to establish itself as a reputable, highly regarded and respectful non-governmental organization, both domestically and internationally. BASPSC is an active participant in international pension funds organizations and forums. It is a regular member of FIAP and an observer in the EFRP.
The Association’s most important achievement is the fact that it organizes all nine licensed pension companies operating in Bulgaria and managing in total 27 supplementary pension funds from the second and third pillars with more than 3.2 million participants (at the end of 2007) of the Bulgarian population.”
The greeting address of the Speaker of Parliament, Mr. Georgi Pirinski, was also presented to the participants. Part of it reads: “I share the understanding that the country needs a process of responsible and dedicated dialogue and continuous reforms of its pension policy that would result in adopting the best possible decisions to the best interest of the society and Bulgarian citizens. I am convinced that the Bulgarian Association of Supplementary Pension Security Companies will continue to be a competent and cooperative partner of the government in the pursuit of these goals”.
„Thanks to your active involvement, the BASPSC contributed to the modernization of the Bulgarian pension model in line with the best international practices. Over the past 10 years you effortlessly passed through the stage of your institutional building and today you are among the most important partners of the Bulgarian government in the implementation of the national pension policy”, said Minister Emilia Maslarova in her speech.
D-r Hassan Ademov pointed out in his greeting address: „Over the past ten years the Association’s members became a source of knowledge, economic success and public authority. Your efforts contributed to the broad acceptance of our social security model in the Bulgarian society”.
In his address the Financial Supervision Commission Chairman stressed: “I would like to recognize the Association’s role in the process of preparation, building and operating the second and third pillars of the pension system. Now, 10 years later, BASPSC has undoubtedly become a recognized authority in solving many disputable issues by maintaining active and constructive dialogue with all institutions. It played the role of consolidator of a business that was new for our country.”
As part of the jubilee ceremony, BASPSC granted its traditional annual journalist awards. Four journalists from national printed media and an electronic media – the Bulgarian National Television- received the awards for their active coverage in 2007 of the achievements, issues and trends in the Bulgarian supplementary retirement provision sector.
The jubilee ceremony was attended by Minister of Labour and Social Policy Emilia Maslarova, Chairman of Labor and Social Policy Parliamentary Committee Hassan Ademov, President’s Social Policy Secretary Nikolay Nikolov, Financial Supervision Commission Chairman Apostol Apostolov, National Social Security Institute Governor Yordan Hristoskov, BNB Deputy Governor Dimiter Kostov, Deputy Minister of Finance Dimiter Ivanovski and many other institution heads and officials from the Ministry of Labor and Social Policy, Ministry of Finance, National Social Security Institute and Financial Supervision Commission, Economic and Social Council, the national trade unions and employer organizations, as well as other governmental and non-governmental institutions contributing to the implementation of the country’s pension reform, the perfection of the legal framework, and the development f the pension companies.
The BASPSC chairman presented to the participants a short analysis of the achievements, developments and future trends of the Association and the pension reform in which he stated that “The establishment of BASPSC in 1997 marked an important stage in the development of the supplementary retirement provision sector in Bulgaria, because it was namely the consolidation that enabled the pensions business to participate, through its organization, in all stages of preparation and implementation of the country’s pension reform, and that played an important part in defining the strategy and goals of the reforms as well as contributing to the quality of the new relevant legislation.
BASPSC and its members – the pension companies – are the ones implementing the most important and significant element of the pension reform – building and operating the second and third pillars of the pension system.
Over the ten years of its existence the Association managed to establish itself as a reputable, highly regarded and respectful non-governmental organization, both domestically and internationally. BASPSC is an active participant in international pension funds organizations and forums. It is a regular member of FIAP and an observer in the EFRP.
The Association’s most important achievement is the fact that it organizes all nine licensed pension companies operating in Bulgaria and managing in total 27 supplementary pension funds from the second and third pillars with more than 3.2 million participants (at the end of 2007) of the Bulgarian population.”
The greeting address of the Speaker of Parliament, Mr. Georgi Pirinski, was also presented to the participants. Part of it reads: “I share the understanding that the country needs a process of responsible and dedicated dialogue and continuous reforms of its pension policy that would result in adopting the best possible decisions to the best interest of the society and Bulgarian citizens. I am convinced that the Bulgarian Association of Supplementary Pension Security Companies will continue to be a competent and cooperative partner of the government in the pursuit of these goals”.
„Thanks to your active involvement, the BASPSC contributed to the modernization of the Bulgarian pension model in line with the best international practices. Over the past 10 years you effortlessly passed through the stage of your institutional building and today you are among the most important partners of the Bulgarian government in the implementation of the national pension policy”, said Minister Emilia Maslarova in her speech.
D-r Hassan Ademov pointed out in his greeting address: „Over the past ten years the Association’s members became a source of knowledge, economic success and public authority. Your efforts contributed to the broad acceptance of our social security model in the Bulgarian society”.
In his address the Financial Supervision Commission Chairman stressed: “I would like to recognize the Association’s role in the process of preparation, building and operating the second and third pillars of the pension system. Now, 10 years later, BASPSC has undoubtedly become a recognized authority in solving many disputable issues by maintaining active and constructive dialogue with all institutions. It played the role of consolidator of a business that was new for our country.”
As part of the jubilee ceremony, BASPSC granted its traditional annual journalist awards. Four journalists from national printed media and an electronic media – the Bulgarian National Television- received the awards for their active coverage in 2007 of the achievements, issues and trends in the Bulgarian supplementary retirement provision sector.
International Conference “Funded Systems: Their Role in Solving the Pension Problem”
Varna, Bulgaria
The International Conference “Funded Systems: Their Role in Solving the Pension Problem” took place on May 31st and June 1st, 2007 in Varna, Bulgaria. The Conference was jointly organized by the International Federation of Pension Funds Administrators (FIAP) and the Bulgarian Association of Supplementary Pension Security Companies (BASPSC). The Conference was under the aegis of the President of the Republic of Bulgaria Mr. Georgi Parvanov.
More than 300 participants from Bulgaria and other 40 countries from all over the world (members and non-members of FIAP) took part in the Conference. The participants had the opportunity to contact and exchange their views with representatives of the legislative and executive authorities, international organizations and banking institutions, public and non-governmental institutions, national and international organizations, pension and investment funds, the pension funds management industry, insurers and mutual funds, academia, and other stakeholders in the social security area.
You can download all presentations from the conference here.
You can view the photos from the conference here.
More than 300 participants from Bulgaria and other 40 countries from all over the world (members and non-members of FIAP) took part in the Conference. The participants had the opportunity to contact and exchange their views with representatives of the legislative and executive authorities, international organizations and banking institutions, public and non-governmental institutions, national and international organizations, pension and investment funds, the pension funds management industry, insurers and mutual funds, academia, and other stakeholders in the social security area.
You can download all presentations from the conference here.
You can view the photos from the conference here.
National Training Event of the European Commission and the Council of Europe on Social Security Co-ordination
13 March 2007, Sofia, Bulgaria
A National Training Event on social security systems co-ordination was held in Sofia within the framework of the Joint CARDS Program (Social Institutions Support Program) between the European Commission and the Council of Europe to support social institutions in South East Europe.
The aim of the training was to acquaint the participants with the European Co-ordination Law and procedural requirements in three areas of social security – pensions, unemployment and health care , as well as to give an overview on the new Regulations 883. Prominent experts in European social security matters gave lectures during the event: Mr. Sixto Molina from the Council of Europe, Professor Francis Kessler from the University of Paris 1 Pantheon-Sorbonne and Mr. Bruno de Pauw from the National Office for Social Security, Belgium.
Representatives of all pension security companies took part in the training.
Presentations
The aim of the training was to acquaint the participants with the European Co-ordination Law and procedural requirements in three areas of social security – pensions, unemployment and health care , as well as to give an overview on the new Regulations 883. Prominent experts in European social security matters gave lectures during the event: Mr. Sixto Molina from the Council of Europe, Professor Francis Kessler from the University of Paris 1 Pantheon-Sorbonne and Mr. Bruno de Pauw from the National Office for Social Security, Belgium.
Representatives of all pension security companies took part in the training.
Presentations
Working meeting – round table “CENTRAL AND EASTERN EUROPEAN COUNTRIES MEMBERSHIP IN EFRP – PRESENT AND PERSPECTIVES”
21 August 2006, Sofia, Bulgaria
The introduction of the EU Directives in the pension security area to a great extent is not related with the existing regulatory framework stipulating the activities of the pension funds in the countries of Central and Eastern Europe.
