Cooperation to strengthen pensions and insurance systems in Peru

CAF President & CEO Enrique García today signed with Peruvian Minister of Economy and Finance Fernando Zavala, and the executive director of the Peruvian International Cooperation Agency, Oscar Schiappa-Pietra Cubas, a non-reimbursable technical cooperation agreement for the project "Preparation of mortality tables in Peru."

After the signing, Enrique García said that one of CAF's objectives in supporting programs with technical cooperation funds was "to collaborate with the institutions, especially with assistance for creating appropriate regulatory frameworks in sectors with which CAF has direct contact, such as the financial sector."

The technical cooperation agreement signed by the Ministry is vitally important because it will provide accurate tables on the mortality of the population covered by the pensions and insurance systems; for example, the calculation of the provident obligations of the public pension system, which are estimated at around US$40 billion.

The project "Preparation of mortality tables in Peru" is a joint initiative of the Ministry of Economy and Finance, the Pension Standardization Office and the Superintendency of Banks and Insurance, the bodies with responsibility for the area of pensions and insurance.