Made available in DSpace on 2016-04-26T20:21:36Z (GMT). No. of bitstreams: 1 Maria Cibele de Oliveira Ramos Valenca.pdf: 1218086 bytes, checksum: ec1e423b4770c10b6e25c63d685b2794 (MD5) Previous issue date: 2013-05-06 / The focus of this study is to analyze the migration process between benefit plans managed by the closed private pension and verify the possibility of maintaining the standard of living of its participants and, consequently, for their welfare after the completion of migration. The private pension scheme is voluntary and based on reserve to ensure the benefit hired, being characterized by the intention to supplement the benefits provided by the statutory system, ensuring the maintenance of the participants standard life when they retire and stop perform paid activities. This paper consists of five parts. The first part deals with the Social Security System and its purposes. The second part assesses the main features inherent to a private pension scheme, including submission to the principles of the Social Security System and the analysis of the subjects that operationalize within the closed pension. The third part deals with the legal nature of the closed private pension, important to complete this work behold directs the purpose of the private system. The fourth section analyzes the legal technicalities of financial schemes used by closed private pension funds in the creation and management of benefit plans that aim to ensure future comfort to its participants. Finally, the fifth part, are considered the legal aspects of benefit plans, as well as the ownership of their respective assets and other aspects that must be considered in a migration process between benefit plans devised by sponsors. The research is important because it will allow conclusions about the relevance of this change specifically in relation to social security protection of participants who originally joined the benefits plan other than the one that will pay benefits in the future / O foco deste estudo é analisar o processo de migração entre planos de benefícios geridos por entidades fechadas de previdência privada e verificar a possibilidade de manutenção do padrão de vida dos seus participantes e, consequentemente, do seu bem-estar social após a concretização da migração. O regime de previdência privada é facultativo e baseado na constituição de reservas que garantam o benefício contratado, sendo caracterizado pelo propósito de complementar os benefícios oferecidos pelo regime oficial, garantindo a manutenção do padrão de vida dos participantes no momento em que se aposentam e deixam de exercer atividades remuneradas. O presente trabalho é composto por cinco partes. A primeira parte versa sobre o Sistema de Seguridade Social e suas finalidades. A segunda parte avalia as principais características inerentes ao regime de previdência privada, incluindo a submissão aos princípios do Sistema de Seguridade Social e a análise dos sujeitos que a operacionalizam no âmbito da previdência fechada. A terceira parte trata da natureza jurídica das entidades fechadas de previdência privada, aspecto importante para a conclusão deste trabalho, uma vez que direcionará a finalidade do regime privado. A quarta parte analisa os aspectos técnicos jurídicos dos regimes financeiros utilizados pelas entidades de previdência privada fechada na criação e gestão dos planos de benefícios que almejam garantir conforto futuro aos seus participantes. Por fim, na quinta parte são considerados os aspectos jurídicos dos planos de benefícios, bem como a titularidade de seus respectivos patrimônios e os demais aspectos que devem ser considerados em um processo de migração entre planos de benefícios idealizados pelos patrocinadores. A investigação é relevante pois permitirá concluir a respeito da pertinência dessa alteração especificamente em relação à proteção previdenciária dos participantes que originalmente aderiram a um plano de benefícios distinto daquele que pagará seus benefícios no futuro

Evaluation of private pension funds in Lithuania Final work of University Postgraduate Studies, 84 pages, 22 figures, 11 tables, 85 references, 14 appendix, Lithuanian language. KEY WORDS: pensions, social security, pension reform, private pension funds. Research object – Private pension funds in Lithuania Research aim – to evaluate private pension funs in Lithuania. Objectives: 1)specify the concept of private pension funds. 2)perform theoretic the analysis of social insurance models and estimate their potential use in the practice of private pension funds. 3)estimate potential ways of sponsorship and administration of pension funds. 4)frame the methodology of evaluation of private pension funds. 5)evaluate private pension funs in Lithuania according to the prepared methodology. Research methods: the analysis and synthesis of scientific literature, logical analysis and synthesis, comparable analysis, structural comparative analysis, the analysis and synthesis of statistical information, graphic methods of modeling, method of rating.

Magistrantūros studijų baigiamasis darbas, 69 puslapiai, 12 paveikslai, 8 lentelių, 88 literatūros šaltiniai, 11 priedų, lietuvių kalba. RAKTINIAI ŽODŽIAI: pensijos, socialinė apsauga, pensijų sistemos reforma, privatūs pensijų fondai. Tyrimo objektas – Lietuvos privatūs pensijų fondai. Darbo tikslas – įvertinti Lietuvos privačius pensijų fondus. Tyrimo uždaviniai: 1) nustatyti privačių pensijų fondų vietą pensijų sistemoje; 2) nustatyti privačių pensijų fondų svarbą kuriant gerovės valstybę; 3) atlikti privačių pensijų fondų veiklos ir vertinimo problemų analizę; 4) nustatyti pensijų fondų vertintojus ir jų vertinimo kriterijus; 5) parengti pensijų fondų įvertinimo metodiką; 6) pagal parengtą metodiką įvertinti Lietuvos privačių pensijų fondų veiklą. Tyrimo metodai - mokslinės literatūros bei loginė analizė ir sintezė, lyginamoji analizė, struktūrinė santykinė analizė, statistinių duomenų analizė ir sintezė, grafinio vaizdavimo metodas, reitingavimo metodas. / The final work of magistracy studies, 69 pages, 12 pictures, 8 tables, 88 literature sources, 11 annexes, in Lithuanian. KEY WORDS: pensions, social security, pension system reform, private pension funds. Research Target: private pension funds in Lithuania. Research aim: To evaluate private pension funds in Lithuania. Research Objectives: 1. To ascertain the location of private pension funds in pension system; 2. To ascertain the importance of private pension funds creating the welfare state; 3. To carry out the analyses of the problems determining the activity of private pension funds; 4. To establish the evaluators and their criteria for evaluating private pension funds; 5. To prepare methodics for evaluating pension funds; 6. to evaluate the activity of private pension funds in Lithuania according to the prepared methods. Research methods: logical analysis and synthesis of scientific literature, comparative analyses, structural relative analysis, analysis and synthesis of statistical data, graphical representation method, rate-making method.

SANTRAUKA Nijolė BALČIENĖ Lietuvos privačių pensijų fondų vaidmuo kuriant gerovės valstybę Magistrantūros studijų baigiamasis darbas, 68 puslapiai, 26 paveikslai, 31 lentelė, 71 literatūros šaltiniai, 5 priedai, lietuvių kalba. RAKTINIAI ŽODŽIAI: Gerovės Valstybė, senatvės pensijos, socialinė apsauga, privatūs pensijų fondai, anuitetas, investicijų pelningumas. Tyrimo objektas - Lietuvos pensijų fondai. Tyrimo dalykas – PF veiklos efektyvumas ir reikšmė kuriant gerovės valstybę priklauso nuo fondų veiklos ypatumų valstybėje, nuo dalyvių supratimo dėl savo pasirinkimo galimų pasekmių ateityje. Tyrimo tikslas – įvertinti Lietuvos pensijų fondų įtaką kuriant Gerovės Valstybę. Tyrimo tikslui pasiekti keliami šie uždaviniai : • Patikslinti pensijų fondų sąvoką ir apibūdinimą; • Nustatyti socialinės apsaugos uždavinius, kuriuos padeda spręsti privatūs pensijų fondai kuriant šalyje gerovės valstybę; • Atskleisti fondų veiklos rezultatų vertinimo rodiklių panaudojimo problemas; • Parengti privačių pensijų fondų vertinimo metodiką ir įvertinti Lietuvos pensijų fondų įtaką Gerovės valstybės kūrime per socialinės apsaugos uždavinių įgyvendinimo rezultatus; • Pateikti Lietuvos privačių pensijų fondų veiklos vertinimą. Tyrimo metodai – loginė analizė ir sintezė, literatūros analizė ir sintezė, statistinių duomenų struktūrinė ir palyginamoji analizė ir sintezė, grafinio vaizdavimo metodas, modeliavimas. / SUMMARY Nijolė BALČIENĖ Role of Lithuanian Private pension funds in Creating Welfare State Final work of University Postgraduate Studies, includes 68 pages, 26 pictures, 31 tables, 5 appendix, 71 references, Lithuanian language. KEY WORDS: Welfare State, pensions, social security, private pension funds, annuity, profitability of investments. Research object - Private pension funds in Lithuania. Research aim is to evaluate influence of private pension funds to creating Welfare State in Lithuania. Research subject – efficiency of the pension funds activity and its significance of creating Welfare State depend on the peculiarity of the funds activity in the state some as on the participants understanding of the probable consequences of their choice in the future. Objectives: 1) To specify the concept of private pension funds. 2) To perform the theoretic analysis of the social insurance models and their potential use in the practice of private pension funds. 3) To estimate potential ways of sponsorship and administration of the pension funds. 4) To frame the methodology of evaluation of private pension funds. 5) To evaluate private pension funds in Lithuania according to the prepared methodology. Research methods: the analysis and synthesis of scientific literature, logical analysis and synthesis, comparable analysis, structural comparative analysis, the analysis and synthesis of statistical information, graphic methods of modeling, method of rating.

Magistro darbe išnagrinėta pensinio socialinio draudimo samprata bei aptarta socialinio draudimo istorinė raida Lietuvoje. Išanalizuotas privačių pensijų fondų objektyvus reikalingumas Lietuvoje. Šiame magistro darbe taip pat ištirta Lietuvos privačių pensijų fondų rinkos struktūra bei atlikta išsami Lietuvos privačių pensijų fondų rinkos ekonominė analizė. Pagal šios analizės rezultatus pateiktos privačių pensijų fondų tobulinimo galimybės. Patvirtinta autoriaus suformuluota hipotezė, kad Lietuvoje pensinio amžiaus žmonių aprūpinimas nėra pakankamas, todėl šią problemą galima dalinai išspręsti remiantis privačiais pensijų fondais. / This master‘s thesis examinated the concept of social security retirement and discussed social security historical development in Lithuania. Analyzed the private pension fund objective necessity in Lithuania. Also this master‘s thesis has been investigated Lithuanian private pension fund market structure and accomplished detail Lithuanian private pension fund market economic analize. According to the results of the analyze has been present the private pension fund improvement facilities. Author‘s formulated hypothesis – that Lithuania retirement age persons provision is not sufficient, so this problem can be partially resolved by private pension funds,was approved by the reasersh.

Impact of private pension funds on capital market Final work of University Postgraduate Studies consists of 73 pages, 18 figures, 10 tables, 81 sources of literature and 3 appendixes, in Lithuanian. Key words:pensions, social security, pension reform, private pension funds, capital market. The object of research is private pension funds. The aim of research is to estimate impact of private pension funds on capital market. The objektives are: 1) specify the concept of private pension funds, 2) perform theoretical analysis of private pension funds activity, 3) estimatepossible possible position of private pension funds in capital market, 4) frame the methodology of the estimation the impact of private pension funds on capital market, 5) traverse the capital market in Lithuania and investment of private pension funds, 6) estimate the factors of private pension funds that determinant the potential impact on capital market, 7)estimate the impact of private pension funds on capital market. methods of research: analysis and synthesis of scientific literature, logical analysis and synthesis, comparable analysis, graphic methods of modeling.

La thèse cherche à travers des critères économiques, sociaux et financiers à définir pour laFrance un système de retraite optimal. Elle procède à l’analyse critique de l’ensemble desréformes entreprises depuis la parution du Livre Blanc sur les retraites (1991), et engage despistes de mesures complémentaires pour les améliorer. Elle s’articule autour de deux idéesprincipales : d’une part, les principales réformes (Balladur, 1993 et Fillon, 2003) sont d’ordreparamétrique et entendent préserver la logique de solidarité intergénérationnelle ; d’autre part,sous certaines conditions, elles peuvent être améliorées par l’adjonction de mesuresstructurelles sous forme d’introduction d’une dose de capitalisation obligatoire.L’argumentation s’appuie à la fois sur une réflexion théorique, fondée notamment sur lesmodèles à générations imbriquées, la notion de taxe sur la poursuite d’activité aux âgesavancés, et sur une étude empirique internationale mesurant l’impact d’une capitalisationsupplémentaire sur l’épargne nationale. Globalement, l’objectif de la thèse est de montrerl’existence de deux dilemmes auxquels font face les pouvoirs publics dans la recherche desolutions à la crise des retraites: (1) garder le système de retraite actuel qui offre peud’incitations à la poursuite de toute activité professionnelle aux âges avancés ou aller versplus d’individualisation des droits au risque de sacrifier la solidarité intergénérationnelle ; (2)quelle dose, quelle(s) forme(s) et quelle réglementation de la capitalisation qui permettentd’augmenter l’épargne nationale au lieu de la réduire ? / This dissertation tries to define an optimal retirement system for France based on economic,social and financial criteria. It reviews the reforms that have been undertaken since thepublication of the Livre Blanc sur les retraites in 1991, and highlights additional measuresthat could be implemented to enhance these reforms. The dissertation is structured around twomain ideas: on the one hand, the main reforms (Balladur, 1993 and Fillon, 2003) are ofparametric nature and intend to preserve intergenerational solidarity; on the other hand, undercertain conditions, they can be improved by incorporating a funded system. The analysis relyon both a theoretical framework, notably overlapping generations models, and anempirical approach to assess the impact of additional capitalization on national saving.Overall, the dissertation aims to show that the authorities face two main dilemma whendealing with the retirement crisis: (1) keep the current retirement system, which does notencourage the elderly to remain in the workforce, or move toward a funded system at the riskof giving up intergenerational solidarity; (2) what dose, forms and regulations of fundingcould stimulate national savings?

Made available in DSpace on 2016-04-26T20:25:09Z (GMT). No. of bitstreams: 1 DIR - Patricia Bressan L Gaudenzi.pdf: 859046 bytes, checksum: c90e0d84207ecf6a039915e529cd5060 (MD5) Previous issue date: 2006-10-16 / Considering the progress reached by the private pension fund system, because of the edition of the Constitutional Amendment n. 20, as of 1998, which has resulted in the edition of the Complementary Law n. 109, as of 2001, and the offering of new pension products to the public, private pension is presently a fundamental element for the structure of the Brazilian pension system especially towards the actuarial and financial instability of the public pension system , rendering alternative for the individuals to keep themselves economical actives even in the inactivity phase of professional duties. In order to organize the retirement planning, the individual assesses the tax consequences of the investment in private pension funds, in comparison to other kinds of investment. Facing this reality, the purpose of this study is to present the analysis of the constitutional profile of the income tax, its matrix-rule and the tax treatment imposed to the values invested in private pension funds. As from this analysis, the intention is to review if the income tax deferment regime applicable to the investment in private pension funds effectively corresponds to a postponement of the financial tax burden or if it can result the income tax incidence on part of the individual s heritage (and not his/her income) / Diante dos avanços alcançados pelo regime de previdência complementar, com a edição da Emenda Constitucional nº 20, de 1998, que ensejou a edição da Lei Complementar nº 109, de 2001, e do oferecimento de novos produtos previdenciários ao público, a previdência privada figura atualmente como elemento fundamental na estruturação do sistema previdenciário brasileiro especialmente em vista do conhecido desequilíbrio atuarial e financeiro da previdência oficial , propiciando meios para que os indivíduos permaneçam economicamente ativos mesmo com a chegada da fase de inatividade profissional. A fim de realizar o seu planejamento para o período de aposentadoria futuro, o indivíduo passa a avaliar os impactos tributários do investimento de recursos em planos de previdência complementar, em relação aos outros instrumentos de poupança. Com vistas a esta realidade é que se propõe a apresentar como tema deste estudo a análise do perfil constitucional do imposto de renda, a sua matriz de incidência, e o tratamento tributário atualmente conferido aos valores aplicados em planos de previdência privada. A partir deste estudo, pretende-se analisar criticamente se o regime de diferimento do imposto de renda aplicável aos investimentos em planos de previdência privada efetivamente traduz uma postergação do ônus financeiro do tributo ou pode acarretar a incidência do referido tributo sobre parcela do patrimônio (e não da renda) da pessoa física