El Modelo aritmético de las Administradoras de Fondos de Pensiones.

Abstract

The pension fund administrator, which emerged in the mid-19th century in the United States and maintained the capital flow process for contributors and retirees for just over a century, have begun to experience stagnation in fund growth in recent decades, resulting in reduced values for policyholders. The causes attributable to inadequate financial management will not be addressed in this paper. Attention will focus specifically on the structure of the process itself, i.e., whether the relationships that determine it are consistent on their own or guarantee that the process will not collapse, taking into account two fundamental characteristics: in the process, the fraction that accrues as a pension is greater than the amount contributed while working, and the inflow of contributors and outflow of retirees tends to stabilize, the model is represented in average variables for the characteristics considered throughout the entire process. A function model describes the amount of cash dependent on the years in which there are only contributors and those that elapse from the time they begin to accrue pensions, successively incorporating each variable involved and, in the Excel spreadsheet, the time expressed in years in which the funds collapse is determined from the solution of the model.