LIQUIDEZ Y RENTABILIDAD DE LOS FONDOS DE PENSIONES DURANTE 2013 AL 2018 INJUPEMP

Abstract

The present research work was carried out with the purpose of knowing one of the pension systems of the country, the National Institute of Retirement and Pensions of the Employees and Officials of the Executive Branch (INJUPEMP), which is one of the most important retirement systems. important since it has approximately seventy-six thousand affiliates in different conditions such as: retired, pensioned, active and in suspense. The focus of this research is a quantitative approach, the variables of liquidity and profitability were analyzed, as well as the correlation of these variables in a period of six years (2013-2018) that correspond from two thousand thirteen to two thousand and ten eight, the results obtained show that investment returns are high in the INJUPEMP, and that although it is true that the correlation coefficient is strong, there is no significant relationship between liquidity and financial profitability in the INJUPEMP between the periods 2013 to 2018 Therefore, the null hypothesis is accepted since there is not enough evidence to believe that there is indeed a correlation. The liquidity of the fund is very good, there is a sustained growth in liquidity during the period of time taken for this analysis. Likewise, the rates of return of the system are very good compared to the national market, the average per year of these investments are as follows: year 2013 rate of 10.9%, year 2014 rate of 10.6%, year 2015 a rate of 10.8%, year 2016 a rate of 9.4%, for 2017 a rate of 10.0% and for 2018 a rate of 9.8%. At the time of the analysis of the data, information was presented on the different accounts of the financial structure of the INJUPEMP such as: fund resources, total assets, immediate availability, term availability, investments, productive assets, unproductive, operating income, expenses of operation, operating expenses and financial income, such information is necessary to prove the hypothesis raised in this investigation, resulting in a higher liquidity lower profitability, due to market limitations and regulations for pension funds. In relation to the investment limits established in the Investment Regulations for pension funds, INJUPEMP complies, but due to the excess liquidity and to avoid having idle money, it has had to request authorization from the CNBS National Banking and Insurance Commission. exceed the investment limits, since it is an institution supervised by the CNBS and in case of non-compliance it may be subject to sanctions, that is why each of the investment limits were raised.