CABEI and AHIBA promote dialogue to improve social security practices
National and international experts talk about projects and issues related to social security programs.
Tegucigalpa, September 25, 2014. - Today, the Executive President of the Central American Bank for Economic Integration (CABEI) Dr. Nick Rischbieth inaugurated the forum "Social Security in Honduras, Actuarial Situation, Mechanisms in other countries, Channeling Savings to the Productive Sector and Reforms in Honduras." Attending the event were representatives from pension funds in Colombia, Uruguay and the Dominican Republic.
The meeting brought together a group of speakers and panelists who are actuaries, pension fund presidents, former government ministers, academics, lawyers, representatives of risk rating agencies, officials from multilateral development institutions, pension superintendents and representatives of the Honduran National Commission of Banking and Insurance. The forum’s objective was to encourage debate about various social security schemes in order to foster progress in the sector.
“The meeting sought to generate a dialogue between all actors in society regarding the social security situation in Honduras and the possibility of reform as a means to improve the country’s competitiveness and the quality of life of Hondurans,” stated President Rischbieth.
President Rischbieth also said that, “Social Security faces major challenges; one of the most important of these is how to expand coverage in a cost-effective manner within a given political and social context. Today and tomorrow we will be able to evaluate different schemes and have the opportunity to analyze the experiences of other countries in their design and implementation processes. It is expected that these experiences will serve as an example for Honduras to reflect on the necessary reforms to this sector, which will ultimately result in an improved quality of life for the country’s inhabitants."
During the event, participants learned about different social security schemes, in addition to the role of pension funds tied to capital markets, the generation of long-term savings and the allocation of such resources to projects in the productive sector. They also learned about experiences of other Latin American countries regarding the issue.
The internationally renowned Argentinian actuarial expert Dr. Eduardo Melinski acted as Academic Director and Coordinator of the forum’s sessions, sharing his extensive experience in the field.
