Pensions And Pension Funding
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Pensions And Pension Funding
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Author : Martin Sullivan
language : en
Publisher:
Release Date : 2007
Pensions And Pension Funding written by Martin Sullivan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Pensions categories.
Evaluating The Financial Performance Of Pension Funds
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Author : Richard Hinz
language : en
Publisher: World Bank Publications
Release Date : 2010-01-14
Evaluating The Financial Performance Of Pension Funds written by Richard Hinz and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-14 with Business & Economics categories.
Countries around the world are increasingly relying on individual pension savings accounts to provide income in old age for their citizens. Although these funds have now been in place for several decades, their performance is usually measured using methods that are not meaningful in relation to this long-term objective. The recent global financial crisis has highlighted the need to develop better performance evaluation methods that are consistent with the retirement income objective of pension funds. Compiling research derived from a partnership among the World Bank, the Organisation for Economic Co-operation and Development (OECD), and three private partners, 'Evaluating the Financial Performance of Pension Funds' discusses the theoretical basis and key implementation issues related to the design of performance benchmarks based on life-cycle savings and investment principles. The book begins with an evaluation of the financial performance of funded pension systems using the standard mean variance framework. It then provides a discussion of the limitations inherent to applying these methods to pension funds and outlines the many other issues that should be addressed in developing more useful and meaningful performance measures through the formulation of pension-specific benchmark portfolios. Practical implementation issues are addressed through empirical examples of how such benchmarks could be developed. The book concludes with commentary and observations from several noted pension experts about the need for a new approach to performance measurement and the impact of the recent global financial crisis on pension funds.
Modelling Pension Fund Investment Behaviour Routledge Revivals
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Author : David Blake
language : en
Publisher: Routledge
Release Date : 2014-08-01
Modelling Pension Fund Investment Behaviour Routledge Revivals written by David Blake and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-08-01 with Business & Economics categories.
First published in 1992, this title conducts an in-depth examination of the investment behaviour of pension funds, presenting the first econometric model in this area. Using the well-established framework of modern portfolio theory, David Blake derives a model of optimal portfolio behaviour that explains pension fund asset holdings in terms of the most important macroeconomic and cyclical indicators. He shows how factors such as industry profitability, the balance of payments and the monetary and fiscal policies of the government influence pension fund investments. Broad in scope, this reissue will be of particular value to students and academics with an interest in econometrics, investment analysis and the pension fund industry.
The Pension Challenge
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Author : Olivia S. Mitchell
language : en
Publisher: OUP Oxford
Release Date : 2003-11-13
The Pension Challenge written by Olivia S. Mitchell and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-11-13 with Business & Economics categories.
This book, the first in a new series produced by the Pension Research Council of the Wharton School in collaboration with Oxford University Press, explores ways to enhance retirement security in a volatile financial environment. Mitchell and Smetters begin by assessing the myriad retirement risks confronting employees, retirees, employers, and governments, and it shows how stakeholders can work to reinvent pensions that perform well in a competitive global setting. Contributors then indicate how pension systems can be better designed to help protect against these risks. Of special interest is a discussion of new financial products and structures to meet and manage challenges to old-age security. Examples considered include pension investment guarantees and hedges, adapting catastrophe bonds to the pension context, and key regulatory structures and portfolio requirements designed to protect unwary or unwitting pension participants. The contributors draw important lessons for a wide range of countries, drawing from both developed and developing market experiences. Contributors include world-famous finance experts and risk management faculty, development economists, pension regulators, and pension consultants.
Pension Fund Capitalism
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Author : Leokadia Oręziak
language : en
Publisher: Routledge
Release Date : 2022-04-10
Pension Fund Capitalism written by Leokadia Oręziak and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-10 with Business & Economics categories.
This book examines the origins and consequences of so-called pension fund capitalism, which has spread around the world since 1981, when the pension system was completely privatized in Chile. The author highlights the driving forces behind the privatization of pensions, its forms and tools used in practice, and the risks and costs related to private pensions. The reader can also learn about the experiences of various developed countries (including the USA, Canada, Australia, and Germany), as well as Latin American (including Chile) and Eastern European countries, related to the privatization of pensions. Particular attention is paid to Poland as an example of a country where such privatization failed completely. This book provides a source of serious reflection on what this privatization has led to, what its real economic and social consequences are and what the likelihood is of reversing it and strengthening the public pension system. Academic researchers and students of economics and finance, as well as social and political sciences, will find the book invaluable in understanding the problems arising from the privatization of pensions. It will also be of interest to professionals: institutions that shape or influence economic and social policy, including political parties, trade unions, non-governmental organizations, the media, and institutions operating on the financial market.
A Problem Solving Approach To Pension Funding And Valuation
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Author : William H. Aitken
language : en
Publisher: Actex Publications
Release Date : 1994
A Problem Solving Approach To Pension Funding And Valuation written by William H. Aitken and has been published by Actex Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Business & Economics categories.
Should Public Pensions Be Funded
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Author : Mr.Richard Hemming
language : en
Publisher: International Monetary Fund
Release Date : 1998-03-01
Should Public Pensions Be Funded written by Mr.Richard Hemming and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-03-01 with Business & Economics categories.
This paper outlines some of the arguments for and against the funding of public pensions, with a view to establishing whether there is an economic basis for judging funding to be superior to pay-as-you-go (PAYG). It is argued that funding does not have a clear advantage, and the case for a shift from PAYG to funding is thus an uneasy one. There is nonetheless growing advocacy of funded public pensions as part of an ideal pension system, which raises more general issues about the role of the public sector in pension provision.
Pension Fund Economics And Finance
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Author : Jacob Bikker
language : en
Publisher: Routledge
Release Date : 2017-11-22
Pension Fund Economics And Finance written by Jacob Bikker and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-22 with Business & Economics categories.
Pension fund benefits are crucial for pensioners’ welfare and pension fund savings have accumulated to huge amounts, covering a major part of world-wide institutional investments. However, the literature on pension fund economics and finance is rather limited, caused, in part, to limited data availability. This book contributes to this literature and focuses on three important areas. The first is pension fund (in)efficiency, which has a huge impact on final benefits, particularly when annual spoilage accumulates over a lifetime. Scale economies, pension plans complexity and alternative pension saving plans are important issues. The second area is investment behavior and risk-taking. A key question refers to the allocation of investments over high risk/high return and relatively safe assets. Bikker investigates whether pension funds follow the life-cycle hypothesis: more risk and return for pension funds with young participants. Many pension funds are rather limited in size, which may raise the question how financially sophisticated the pension fund decision makers are: rather professionals or closer to unskilled private persons? The third field concerns two regulation issues. How do pension fund respond to shocks such as unexpected investment returns or changes in life expectancy? What are the welfare implications to the beneficiary for different methods of securing pension funding: solvency requirements, a pension guarantee fund, or sponsor support? This groundbreaking book will challenge the way pension fund economics is thought about and practiced.
Pension Fund Governance
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Author : John R. Evans
language : en
Publisher: Edward Elgar Publishing
Release Date : 2008
Pension Fund Governance written by John R. Evans and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
The academic literature on pension governance is sparse and this book will fill some important gaps by bringing together original contributions from around the world on subjects related to the area. The book initially lays out the main frameworks for pension fund governance and then goes on to examine global governance practice and experience and country studies on pension funds in the United States and Australia. The final section of this in-depth study discusses the role of government guarantees. The editors and contributors to this book have struck a balance between the various dimensions of the governance problem. Whilst ensuring that the theoretical frameworks are represented, at the same time, they have also recognized that it is vital to report on empirical work. Private pensions are examined closely, while also acknowledging that public pension funds are extremely important actors. Pension Fund Governance will appeal to academics and researchers of financial economics and financial management, as well as those in the fields of public finance and public sector economics. Furthermore the book will also find an audience among those in commercial and policy roles which involve pensions, including pension actuaries.
The Pension Puzzle
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Author : Mr.N. A. Barr
language : en
Publisher: International Monetary Fund
Release Date : 2002-04-30
The Pension Puzzle written by Mr.N. A. Barr and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-04-30 with Business & Economics categories.
Looks at the policy choices involved in creating pension schemes, particularly whether it is advisable to move away from government pay-as-you-go pensions toward private or publicly funded plans. Examines the reasons for the controversy surrounding pension design, and whether the second level of pension systems should be mandatory, private, funded, and defined-contribution.
