Poupança Individual de Aposentadoria : PIÁ

This paper presents the concept of individual savings accounts for retirement adapted to the Brazilian reality. Using actuarial framework to corroborate the technical and scientific aspects of the idea, the platform of the “Tesouro Direto” in Brazil is taken as the rationale to implement a system that can protect the monies of participants, avoiding the historic mismanagement, corruption, graft, lack of transparency or high fees that are related to the private pension system in Brazil and in the world. Another aspect is the existing tax exemption for large investors, which would be extended to this platform. This should foster the increase of the national savings rate and reduce the country's dependence on foreign capital.