Brazilian Private Pension System Brazilian Private Pension System Hélio Portocarrero Ministry of Finance SUPERINTENDENCY OF PRIVATE INSURANCE (SUSEP)

Slides:

Advertisements

Similar presentations

Chapter 12: Life Insurance Planning

Advertisements

Lecture 22: Pension Benefit Formulas Approaches to retirement plans Defined benefit plans –Elements of defined benefit formulas –Non-pay-related formulas.

COPYRIGHT © 2008 by Nelson, a division of Thomson Canada Ltd Chapter 12 – Planning for Retirement.

Pension Benefits Reform Presentation to Memphis City Council Executive Session March 18, 2014 Quintin Robinson Director of Human Resources 1.

© The McGraw-Hill Companies, Inc., All Rights Reserved. Irwin/McGraw-Hill 12-1 C HAPTER 12 Personal Finance Life Insurance Kapoor Dlabay Hughes 6e.

SFU Academic Pension Plan Debbie Wilson Plan Administrator September 25, 2014.

Unit 5 Financial Literacy Read each definition carefully and become familiar with it as we will use the words in class as part of our discussions through.

PENSION SYSTEM IN REPUBLIC OF MACEDONIA. Pension system, key institutions Ministry of Labor and Social Policy Pension and Disability Insurance Fund of.

Chapter 9 Pension Funds Background Types Assets Regulation Social Security Background Types Assets Regulation Social Security.

The Plan Gives you the freedom to choose the amount of premium, and invest in market linked funds, to generate potentially higher returns. A part of the.

Lesson 16 Investing for Retirement. Key Terms  401(k) Plan  Annuity  Defined-Benefit Plan  Defined- Contribution Plan  Employer- Sponsored Retirement.

What Must You Know to Determine Retirement Savings Needs? 6 key questions.

 What vehicle will get you to your retirement goals?

The Plan Gives you the freedom to choose the amount of premium, and invest in market linked funds, to generate potentially higher returns. The premium.

1 (of 23) FIN 200: Personal Finance Topic 22–Retirement Lawrence Schrenk, Instructor.

TELKOM POST RETIREMENT MEDICAL AID (PRMA) ALTERNATIVE FOR EMPLOYEES

Helping You Plan For Your Retirement Retirement Plan for the Employees of the Christian Brothers University.

RISK MANAGEMENT FOR ENTERPRISES AND INDIVIDUALS Chapter 21 Employment-Based and Individual Longevity Risk Management.

Tennessee Optional Retirement Plan April 14, 2010 ORP is Changing.

PENSION FUNDS. PENSION PLANS 1.PUBLIC PENSION FUNDS Created by state, local or federal govt. 2.PRIVATE PENSION PLANS Created by private agencies including.

Lifetime Guaranteed Income Account AFN45811 Mutual of Omaha Retirement Services.

Different Benefit Plans – 401(a), 403(b), 457 and 529 Plans Picking the Right Plan for Your District Presented by: Kades-Margolis Corporation 998 Old Eagle.

Learning Objective # 5 Determine your planned retirement income. LO#5.

1State Retirement Agency of Maryland Leaving Employment Seminar.

Copyright © 2008 Pearson Education Canada 6-1 Defined-contribution Pension Plans The reverse of defined-benefit plans Contribution is known up-front The.

Private Pension Insurance in the Czech Republic The Decumulation Phase Seminar on Private Pension Provision, Tallinn, Štěpánka Pollnerová.

1 INS301 Chapter 17 Retirement Plans Overview of retirement plans Defined benefit plans (DB plan) Defined contribution plans (DC plan) Cash balance plans.

Self-Managed Plan (SMP) 401(a) Defined Contribution Plan Serving Employees of Illinois Community Colleges and Universities.

© 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

TACOMA EMPLOYES' RETIREMENT SYSTEM. Orientation Outline ISources of Retirement Income IIHow the Plan Is Funded and Managed IIIService Retirement Benefits.

Minimum Pension Guarantee in Poland Zofia Czepulis-Rutkowska Seminar for social security actuaries and statisticians: actuarial aspects of pension reform.

TACOMA EMPLOYES' RETIREMENT SYSTEM. 2 Orientation Outline I Sources of Retirement Income II How the Plan Is Funded and Managed III Service Retirement.

Pension Plan By: Jennifer Kimball. What is a Pension?! A Pension is a plan that sends you money after you are retired or aren't working anymore. Pensions.

Association of Capital Market Payout phase in Poland Pawel Pelc Deputy President of the Association of Capital Market UNFE

Annuities In Retirement Planning For Joe and June.

Money Purchase Pension Plan Chapter 16 Employee Benefit & Retirement Planning Copyright 2009, The National Underwriter Company1 What Is It? A qualified.

Pensions Definition: ‘A regular payment to those who have retired from work due to age or ill-health paid by the state or an employer’ Heery and Noon (2001)

1 Overview Bencor Special Pay Plan (DROP Participants) For Employees of the School District of Lee County.

New Ideas About the Distribution Phase Integrating Retirement Income & DC Plan Design Institutional Investor Institute Corporate Funds Roundtable March.

OPEN – C&HR 2-22 June 25-26, 2015 OPEN – C&HR – 2-22 UM Retirement, Disability and Death Benefit Plan Distribution Options Reduction Board of Curators.

Nearing Retirement? Insurance Concepts. Facts: You must wind up your RRSP’s before the end of the year in which you turn 69. At this point, you must either:

Choosing between Defined Benefit Plans & Defined Contribution Plans Jon Forman Alfred P. Murrah Professor of Law University of Oklahoma August 15, 2005.

.  Today the average American lives eighteen years in retirement  A retirement plan, like insurance, transfer risk  You buy health insurance when.

The Retirement Issue. Principles Discussed  Time Value of Money  Individual Retirement Account (IRA) Traditional Roth  Simplified Employee Pension.

Arizona State Retirement System Presentation to the Government Finance Officers Association of Arizona January 7, 2011.

TACOMA EMPLOYES' RETIREMENT SYSTEM. 2 Orientation Outline ISources of Retirement Income IIHow the Plan Is Funded and Managed IIIService Retirement Benefits.

Pension funds A pension plan is a fund that is established for the eventual payment of retirement benefits. The entities that establish pension plans,

“A-Day” – a pensions bonanza? More choice and a fundamental change Pensions – NOT products, investments “Long-term tax-relieved like ISAs or PEPs”* To.

Contractual Savings Conference Larry Zimpleman Executive Vice President Principal Financial Group April 30, 2002.

Understanding Benefit Lingo Greater Atlanta Job Fair Candidate Seminar.

Group IV Membership Provisions. Introduction TCRS provides benefits to more than 220,000 active members, and over 110,000 retired members TCRS provides.

CHAPTER 14 Retirement Planning: Concepts and Strategies Chapter 14: Retirement Planning1.

Saving for Retirement Personal Finance Chapter 15.2.

The Australian Experience Financial Market Convergence – Implications for Regulators and Regulatory Structures Regulatory and Supervisory Issues in Private.

Annuities. Definition  Typically created by life insurance companies  Provides a series of payments  Must be funded by the investor.

Retirement Planning Social Security Social Security is a federal program that taxes you during your working years and uses the funds to make payments.

Please be aware that this information is intended to be general in nature and is not intended to be legal or tax advice. Each of you should follow up.

Pension Products Why pension? Maintain the standard of leaving. Reduce the burden at the time of r e t i r e m e n t. Financial provision in retired life.

Retirement Planning Chapter 18 in Text. Two Types of Retirement Plans Defined Benefit Plans o Employer-sponsored plan o Benefits are typically determined.

PRESENTED BY FIRST NAME SURNAME JOB TITLE/POSITION A PRESENTATION TO CLIENT NAME FEDERAL BUDGET SUMMARY.

Smell Dating: The New Tinder?  Smell Dating sends you a shirt and requests that you wear it for three days and three nights without deodorant.  Once.

Date: Tuesday March 25 th 2014 Aim: How can you prepare for your retirement? Do Now: Why is it important to invest in a retirement fund? When should you.

Chapter 3 IAS 19 Employee benefits

Chapter 12 Life Insurance McGraw-Hill/Irwin

SOCIAL PROTECTION FOR THE AGED

Chapter 12 Life Insurance McGraw-Hill/Irwin

Lithuanian pension system and reforms MISSOC Network Meeting Vilnius, October Ministry of Social protection and Labour.

PENSION SYSTEM IN REPUBLIC OF MACEDONIA.

Retirement Vocabulary

Chapter 12 Life Insurance.

Presentation transcript:

Brazilian Private Pension System Brazilian Private Pension System Hélio Portocarrero Ministry of Finance SUPERINTENDENCY OF PRIVATE INSURANCE (SUSEP)

Brazilian Private Pension System Open Pension Funds Ministry of Finance National Council of Private Insurance - CNSP Superintendency of Private Insurance - SUSEP Insurance Companies and Open Pension Funds  T he products are available for any customer, by individual or group contracts, sponsored or not. Ministry of Finance SUPERINTENDENCY OF PRIVATE INSURANCE (SUSEP)

Brazilian Private Pension System Closed Pension Funds Ministry of Social Security Closed Pension Management Council - CGPC Closed Pension Funds Secretary - SPC  T he products are only available for specific groups, linked to a sponsor, who may be an employer, a manager of association or union - Law 109/01 (occupational funds and union funds) Ministry of Finance SUPERINTENDENCY OF PRIVATE INSURANCE (SUSEP)

Open Pension Plans Benefits by: survivorship; disability; death. Payment as an annuity or as a lump sum. Full portability, during the accumulation phase, to transfer the funds to another open or closed pension provider company. Withdrawal of the contributor’s accumulated balance, after a period established by the company - limited to 24 months. Ministry of Finance SUPERINTENDENCY OF PRIVATE INSURANCE (SUSEP)

Open Pension Plans Traditional products – Defined benefits only. New line of products – defined contributions mostly. Liabilities are linked to shares of special mutual funds - PGBL, PAGP e PRGP: PGBL - It doesn’t guarantee minimum rate of return and has several alternative investment options. PAGP - The accumulation rate is guaranteed at a specified index, and there is a surplus share. PRGP - Besides the index and the surplus, there is a specified rate of return. Ministry of Finance SUPERINTENDENCY OF PRIVATE INSURANCE (SUSEP)

Mixed Plans Besides the survivorship benefits, they pay benefits in case of death and/or disability of the contributor. The company can use resources from the survivorship provision to finance other benefits (Communicability). They offer better disclosure terms to customers. They make easy for customers to remain in the plan, until the retirement date. The companies have more flexibility to remunerate agents. Ministry of Finance SUPERINTENDENCY OF PRIVATE INSURANCE (SUSEP)