• Productos Nuevos Relacionados sobre Las Microfinanzas

Ing. Reynold O. Walter P.President Technical Committee

MICROPENSIONS PROJECT IN CENTRAL AMERICA

Lic. David Lemus PivaralTechnical Coordinator

CENTRAL AMERICA IN THE WORLD POPULATION PYRAMIDS PROJECTION (2010-2040) LIFE EXPECTANCY AT BIRTH (2010-2050) PROPORTION OF ELDERLY PEOPLE RECEIVING PENSION

WORLDWIDE MICROPENSIONS IN THE WORLD ABOUT REDCAMIF MICROPENSIONS PROJECT IN CENTRAL AMERICA PPR PERFORMANCE MECHANISM AND STRUCTURE TECHNICAL DESIGN OF THE PRODUCT PPR AFFILIATES TO THE PPR AND CONTRIBUTION TO THE

TRUST EXPANSION PHASE OF THE PPR NATIONAL AND INTERNATIONAL BROADCASTING OF THE

PPR

CONTENT

Centroamérica

R.D

CENTRAL AMERICA IN THE WORLD

CENTRAL AMERICA: MAIN INDICATORS

Source: United Nations (2012)

Men Women

POPULATION PYRAMID PROJECTION (2010-2040)

Source: United Nations (2012)

LIFE EXPENTANCY AT BIRTH (2010-2050)

Source: International Labour Organization (2012)

PROPORTION OF ELDERLY PEOPLE RECEIVING PENSION WORLDWIDE

Homepage REDCAMIF ParticipantsProject Phases Performance SchemeMICROPENSIONS

VIDEOThe opinion of our clients is

very important to us, in order to promote Micropensions.

• x

THE BEGINNINGSMicrocredit Summit for Latin America and the Caribbean. Santiago de Chile, April 2005

The initial approach of the idea of pensions and / or retirement funds for micro entrepreneurs was proposed by Reynold Walter, within the Regional Microcredit Summit for Latin America and the Caribbean in 2005, held in Santiago de Chile. Based on this, we propose the Inter-American Development Bank to perform feasibility studies to implement the project. www.redcamif.org

Generalities PPR Project

Log Out

Soon:

Microfinance Crystal, Georgia

Associatión RIMANSI, Filipinas

Foundation DHAN, India

Microfinance PAWDED,

Kenya

Micropensions in the WorldThere are just a few initiatives of micropension projects in the world; most of them are located in Asia and Africa. Just the REDCAMIF PPR is located in Latin America and the Caribbean.

REDCAMIFCentral America

XacBank Mongoli

a

MICROPENSIONS AROUND THE WORLD

Source: REDCAMIF. Preliminary Data, June 2014

REDCAMIF COVERAGE

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IMF’s Affiliated 134

Agencies 1,030

Clients 1,264,320

Portfolio Millions of US$

1,604

% Women Clients

60%

% Rural Portfolio

46%

SUMMARY

REDCAMIF COVERAGE

Source: REDCAMIF. Preliminary Data, June 2014

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OBJECTIVE:To contribute to the reduction of poverty of the micro and small entrepreneurs, self-employed and low-income people and their families in Central America, through the formation and accumulation of heritage resources in the medium and long term, that tend to improve their living conditions, in order to generate resources for their retirement.

MICROPENSIONS PROJECT IN CENTRAL AMERICA

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The Project was conceived in 3 phases:

Phase I: Feasibility Analysis (2006-2008)

Phase II: Micropensions Pilot Project in

selected countries. (2009-2014)

Fase III: Micropensions Project Expansion (2015 and further)

MICROPENSIONS PROJECT IN CENTRAL AMERICA

1 •Regulatory Framework Study

2 •Market Research

3 •Actuarial Technical Study

PROJECT FEASIBILITY STUDIES

MICROPENSIONS PROJECT IN CENTRAL AMERICA

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REDCAMIF

PPR TECHNICAL COMMITTE

INVESTMENT AND RISK NATIONAL SUB-COMMITTEES

PERFORMER UNIT

10 IMF´s

Guatemala

Honduras

Nicaragua

MIPYME entrepreneu

rs affiliated to PPR

12,500affiliates

PPR PERFORMANCE MECHANISM AND STRUCTURE

COMITÉ TÉCNICO DEL PPR17 DE OCTUBRE DE 2013

Presidente

• Ing. Reynold Walter

REDIMIF, Guatemala

• Lic. Carlos Spiegeler

REDMICROH, Honduras

• Lic. Raúl Alfaro

ASOMIF, Nicaragua

• Lic. René Romero

REDCAMIF

• Lic. Iván Gutiérrez

Coordinador UE

• Lic. David Lemus

PPR TECHNICAL COMMITTEE

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TRUSTOR

REDCAMIFStatistics & Control

Local Network

Microfinance Institutions

Pensions promotion

Microenterprise

TRUSTEE

TRUST

Technical Committee

Investment & Risk Committee

Individual Accounts Fund (Additional

Plan)

FIDEICOMMISSARIES & BENEFICIARIES

MicroEntrepreneurs

Pensioners

Joint Fund (Basic Plan )

PPR PERFORMANCE MECHANISM AND STRUCTURE

  Benefits Contributions

Basic Plan Monthly payment of 0.5% of final average salary by the number of years of services (affiliated to the plan).

Monthly contribution of 2.77% of real or estimated income (this contribution may vary, according to annual actuarial valuation).

Additional Plan

Monthly playment resulting from the actuarial calculation on the total of contribution and return, minus expenses (if any).

Monthly contribution of 2% of the real or estimated income.

Volunteer Only or monthly payment, according to the cumulative fund plus return.

Volunteer contribution by the affiliate (any time and any amount, in order to improve their monthly life payment

TECHNICAL DESIGN OF THE PRODUCT: PROGRAMMED RETIREMENT PLAN, PPR

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Institution / Country Current Status

FAFIDESS, Guatemala Affiliating

ADEL IXCAN, Guatemala Affiliating

FAPE, Guatemala Affiliating

Cooperativa de Comercio Guatemala Affiliating

FUNDESER, Nicaragua Affiliating

FUNDEMI, Nicaragua Affiliating

LEON 2000, Nicaragua Affiliating

FUNDESER Nicaragua Affiliating

CREDISOL, Honduras

Affiliating

STATUS PARTICIPANT IMF’s

AFILIADOS Y APORTES AL PPRAFFILIATES AND

CONTRIBUTIONS TO PPR

Source: REDCAMIF. Performing Unit, PPR, November 2014

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Description

Total Guatemala Honduras Nicaragua

Affiliates 4,210 1,608(38.19%)

388(9.22%)

2,214 (52.59%)

Contributions to Trust

US$. 82,655

US$. 53,483(64.70%)

US$ 3,304(4.00%)

25,868(31.30%)

Source: REDCAMIF. Information updated November 2014

NUMBER OF AFFILIATES TO PPR AND CUMULATIVE FUND IN

TRUST

CONTRIBUTION PLAN / BENEFITS

• Productos Nuevos Relacionados sobre Las Microfinanzas

EXPANSION PHASE OF THE PPR

“Build your Future today….”

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Seven countries incorporated

• Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panamá, and The Dominican Republic

Twenty six IMF´s adhered to the trust.

• Operational and with affiliates to PPR.

Thirty five thousand affiliates to PPR.

• To Year 2017

EXPANSION PHASE OBJECTIVES

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INTERNATIONAL COOPERATION

MICROFINANCE NATIONAL NETWORKS

STRATEGIC ALLIES TO PPR

• Productos Nuevos Relacionados sobre Las Microfinanzas

NATIONAL AND INTERNATIONAL BROADCASTING OF THE PPR

“Build your Future today….”

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REDCAMIF Directors present the Micropensions Pilot

ProjectSOURCE:

Nicaragua. La Prensa, May 24, 2012.

PYMES WITH ACCESS TO MICROPENSIONS

REDIMIF promotes plan to affiliate to a pension.

Source:Nuestro DiarioGuatemala, May 21, 2012

BROADCASTING OF THE PPR

“They Foresee the ageing of the small entrepreneur”

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Panelists: Mr. John Hatch, Founder of FINCA Internacional, USA; Ing. Reynold Walter, President Micropensions Project, REDCAMIF, Guatemala; Dra. Virginia P. Juan, President/CEO APPEND, Philippines; Licda. Francesca Randazzo, Ada, Luxemburgo. MANILA, PHILIPPINES, OCTOBER 2013

PANEL: Looking Ahead: Strategies, Products and Services that Help Meet the Needs of Elderly Clients.

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Punta Cana, Dominican Republic, June 2014

VII CENTRAL AMERICAN AND THE CARIBBEAN MICROFINANCE

CONFERENCE

30Guatemala, June 2014

FIRST MEETING OF FINANCIAL INCLUSION

17 MICROCREDIT SUMMIT

Merida, Mexico, September 2014

FINANCIAL INCLUSION AND AGEING: AN OPPORTUNITY

Bogota, Colombia, November 11, 2014

Round Table discussion organized by HelpAge International, the Center for Financial Inclusion, and MetLife Foundation. It gathered 40 key experts, including providers of financial services, Directors of Retirement Funds, experts in academic, research, and work issues, and people who work to fight poverty, with a special approach in securing sustainable resources for the ageing in the people.

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THANK YOU VERY MUCH!!!

Madurai, India, December 4, 2014

www.redcamif.org E-mail: rwalter@fafidess.org Telephone: (502) 23115800

Reynold O. Walter P.President Technical Committee

David Lemus PivaralTechnical Coordinator