Download or read book The Structure Regulation and Performance of Pension Funds in Nine Industrial Countries written by E. P. Davis and published by World Bank Publications. This book was released on 1993 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Company pension funds can make important contributions to retirement income and to capital market development. But they need to be regulated and supervised to avoid fraud; protect the interests of workers, and minimize restrictions on labor mobility.
Download or read book The Structure Regulation and Performance of Pensions Funds in Nine Industrial Countries written by Banco Internacional de Reconstrucción y Fomento. Financial Sector Development Department and published by . This book was released on 1993 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Do Investment Regulations Compromise Pension Fund Performance written by Pulle Subrahmanya Srinivas and published by World Bank Publications. This book was released on 1999-01-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: " "Draconian" regulations have created distortions in asset management, limited opportunities for diversification, and, as a consequence have hampered, the performance of pension funds." This volume shows that the return to retirement assets, expected replacement rates, and, hence, the net welfare gain from pension reform is lower under a draconian regulatory framework than under a more liberal pension fund investment regime. Important policy conclusions of the paper are that existing regulatory regimes should be liberalized as soon as possible to allow pension fund investments in a wider array of financial instruments and that regulations should require evaluation of pension fund performance against market benchmarks as opposed to exclusive focus on comparisons with industry averages. The paper also suggests a review of the current structure of the private pension fund industry in Latin America and an evaluation against alternatives in the light of actual performance experience.
Download or read book The Simple r Algebra of Pension Plans written by Dimitri Vittas and published by World Bank Publications. This book was released on 1993 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unless the real rate of interest exceeds the growth rate of real wages by a significant margin, payment of a reasonable pension rate requires a high contribution rate or a high active worklife ratio.
Download or read book Some Considerations Relevant to Prefunded Pensions in France written by Mr.Joaquim Vieira Ferreira Levy and published by International Monetary Fund. This book was released on 1995-07-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing use of life insurance instruments and company-sponsored funds in France suggests that French households may be inclined to a greater reliance on financial savings as a source of retirement income. This paper examines the challenges imposed by an aging population on the pay-as-you-go basic and supplementary pension systems, the growth of life insurance and company-sponsored funds in the absence of a comprehensive legislation on prefunded pensions, and issues related to prefunding pension schemes, such as the possibility of an welfare enhancing transition to prefunding; effects on capital markets in view of the experience in other OECD countries; and the importance of the transportability of pensions and measures fostering competition in financial markets.
Download or read book France written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1995-10-20 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, edited by Paul R. Mason, analyses the policy challenges that face the French economy in the second half of this decade, highlighting the need for structural changes to enhance the economy's flexibility. The authors argue that budgetary constraints will oblige France to address structural economic problems by reducing social benefits and cutting government expediture.
Download or read book Pension fund governance written by Michael Orszag, John Evans, John Piggott and published by Edward Elgar Publishing. This book was released on 2008-06-30 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This collection of essays on a rapidly developing topic is a valuable addition to the field and the editors must be congratulated on beginning to bring the area to the attention of thinkers and government (not necessarily the same thing), who are charged with dealing with the challenge of controlling private pension provision.' - Robin Ellison, Pensions
Download or read book Evaluating the Financial Performance of Pension Funds written by Richard Hinz and published by World Bank Publications. This book was released on 2010-01-14 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Pensions Savings and Capital Flows From Ageing to Emerging Markets written by Reisen Helmut and published by OECD Publishing. This book was released on 2000-05-15 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: This books explores the international aspects of pension reform, private savings and volatile capital markets and clarifies how they relate to each other.
Download or read book Corporate Governance in Central Europe and Russia written by Roman Frydman and published by . This book was released on 1996 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this, the first of three volumes to be published by the CEU Press on corporate governance in Central Europe and Russia, distinguished economists, legal scholars, political scientists and sociologists examine the emerging institutions of corporate governance in privatized firms in transition economies. They investigate the role of banks, investment funds, and pension funds, as well as the role and impact of residual state ownership. Each paper combines experience from advanced market economies with in-country empirical work in transition settings. Together these papers represent the most comprehensive and up-to-date comparative analysis yet undertaken of privatization struggles and their impact on corporate governance in Central Europe and Russia.
Download or read book Assessing Chile s Pension System Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Download or read book Gradual Retirement in the OECD Countries written by Lei Delsen and published by Dartmouth Publishing Company. This book was released on 1996 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spurred by the prediction of a welfare crisis, legislators in most OECD countries have begun to contemplate ways of extending working life and reducing the generosity of pensions. The book's contention is that legal initiatives should reflect a combined social-security/employment policy.
Download or read book Sequencing written by Alison Harwood and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of the financial system in economic development has been frequently neglected by analysts and poorly understood by policymakers. Are there policy reforms, or any particular sequence of reform measures, that will contribute to the successful functioning of the financial system and thus spur long-term economic growth? What kind of regulatory changes are appropriate as countries move toward financial liberalization and as government development banks decline in importance compared to private banks and nonbank financial institutions? What broad lessons can be discerned from the experience of financial reform in Asia and Latin America for the transitional countries of Russia and Eastern Europe? The world's financial system has been buffeted in recent years by the crisis in the U.S. savings and loan industry, the implosion of the Japanese "bubble economy" of the late 1980s, the Mexican peso crisis, and other events. The experience of Western nations in adapting to financial liberalization can provide useful insights for the many countries embarking on a course of market reforms and beginning to build the financial infrastructure for a market economy. This volume analyzes the recent financial reforms and reform strategies in Asia, Latin America, Eastern Europe, and Russia. The chapters draw on the extensive practical experience of the authors and reflect the most recent empirical research in the field. The contributors are Gerald Caprio, Jr., Dimitri Vittas, and Ross Levine, the World Bank; David C. Cole and Betty F. Slade, Harvard Institute for International Development; Maxwell J. Fry, University of Birmingham at Edgbaston; Claudio Gonzalez-Vega, Ohio State University; Stephan Haggard, University of California, San Diego; R. Barry Johnston, International Monetary Fund; Philip A. Wellons, Harvard Law School; Lawrence J. White, New York University; and Alison Harwood.
Download or read book Sequencing Social Security Pension and Insurance Reform written by Dimitri Vittas and published by World Bank Publications. This book was released on 1995 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Germany Selected Issues written by and published by . This book was released on 1997 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Ideas about Old Age Security written by Robert Holzmann and published by World Bank Publications. This book was released on 2001 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Printed on Demand. Limited stock is held for this title. If you would like to order 30 copies or more please contact [email protected] Contact [email protected], if currently unavailable. Policymakers worldwide are struggling to adapt their pension systems to the reality of aging populations, globalization, and tightening budgets. The World Bank actively supports these policymakers by helping them to identify the economic and demographic challenges facing them to highlighting potential policy responses and providing implementation support. New Ideas about Old Age Security is a selection of papers presented at a conference in September 1999 convened by the World Bank and attended by leading academics and policymakers from around the world. These papers, which have subsequently been revised, contain a sample of the most recent thinking in the global debate over pension reform. The papers in this volume explore a wide variety of pension reform issues. Some of the topics covered in this book include new approaches to multi-pillar pension reform, the relevance of index funds for pension investment in equities, and managing public pension reserves.
Download or read book Annotated Bibliography on Policy and Programme Issues in the Field of Ageing written by United Nations. Economic and Social Commission for Asia and the Pacific and published by . This book was released on 1994 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
