IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Recomendaciones para la modificación del régimen de pensiones obligatorias de Colombia

  • Alejandro Reveiz

    ()

  • Carlos León

    ()

  • Juan Mario Laserna

    ()

  • Ivonne Martínez

    ()

Este documento evalúa la regulación vigente relacionada con la administración de losportafolios de los Fondos de Pensiones Obligatorios (FPO), para esto revisa la literaturarelacionada con la eficiencia del Sistema dadas sus actuales restricciones. Se concluyeque el marco regulatorio de las inversiones de los FPO restringen el retorno esperado yhace que los administradores de portafolios no accedan a niveles superiores de retornopor unidad de riesgo con mayores beneficios de diversificación. Así mismo se limita lacapacidad del administrador de construir portafolios que reflejen el perfil de riesgo delafiliado. Se muestra que la fórmula de rentabilidad mínima genera incentivos perversospara que las AFP´s no incurran en riesgo llevando a los Administradores a estrategiasque sincronicen los retornos de los portafolios para minimizar el impacto de laincertidumbre generado por la fórmula de rentabilidad mínima. Las propuestas van en elsentido de flexibilizar las inversiones y adecuarlas de acuerdo al perfil de riesgo de loscotizantes utilizando el esquema de Multifondos implementando en otros países de laregión

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.banrep.gov.co/docum/ftp/borra507.pdf
Download Restriction: no

Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 004599.

as
in new window

Length: 28
Date of creation: 06 Apr 2008
Date of revision:
Handle: RePEc:col:000094:004599
Contact details of provider:

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:col:000094:004599. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Clorith Angélica Bahos Olivera)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.