Gestão de investimentos em institutos previdenciários municipais: estudo de caso no município de Camaçari/Ba

Abstract

The financial and actuarial health of the RPPSs is a subject that deserves a primordial highlight in the economic scenario of Brazilian municipalities and states. The current deficit model of the pension of the entities imposes management and governance strategies on the managers of security institutes capable of making a safe and adequate profit of a view to the funds raised above the actuarial goal. In order to ensure the sustainability of the scheme and consequently the payment of retirement and other benefits of retirees and pensioners. To this end, the research problem emerges: to what extent is the financial management of the Camaçari ISSM adequate and adherent to the best management practices in the sector? In this context, it seeks with this dissertation to analyze the financial performance of ISSM investment management in the municipality of Camaçari/BA in the period between 2019/2021, compare to other models of municipal Own Social Security Scheme and verify the adherence of the procedures adopted by ISSM to the Pro-Management model of the Federal Government. In the text, the theoretical foundations of social security, governance related to investment management are presented first. Then, in the analysis of the results are presented the structure of ISSM, investment policies, investment portfolio, actions and dimensions of the Pro-Management Program Own Social Security Scheme, as well as the financial return reached in the years 2019/2021 and the actuarial goals of that same period. For this, three methods will be used: bibliographic research, documentary analysis and questionnaire. Finally, the study presents the results of successful strategies of efficient resource management models (intelligent capitalization) and modern portfolio diversification (Markowitz Theory, 1952) to ensure an increasingly sustainable and balanced municipal security system