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Author : Mitch Frazer
Publisher : Unknown
Page : 214 pages
File Size : 52,9 Mb
Release : 2012
Category : Old age pensions
ISBN : 088804612X
Author : Michael Orszag, John Evans, John Piggott
Publisher : Edward Elgar Publishing
Page : 284 pages
File Size : 52,5 Mb
Release : 2008-06-30
Category : Business & Economics
ISBN : 9781781007662
'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
Author : Edward Tamagno
Publisher : Unknown
Page : 0 pages
File Size : 51,7 Mb
Release : 2006
Category : Old age pensions
ISBN : 1553822102
The framework for the regulation of occupational pension plans The first formal step to regulate occupational pension plans in Canada was taken in 1946 when the Department of National Revenue, which at the time was the agency of the federal government responsible for the administration of the Income Tax Act, issued guidelines to determine whether a plan qualified for the preferential tax treatment [...] One of the conditions for obtaining this registration is that the plan also be registered with the provincial or federal agency responsible for the pension benefit law applicable to the plan, thus ensuring that occupational pension plans comply with all the requirements of the regulatory framework under both the tax and the pension benefit laws.6. [...] The titles of the relevant pension benefit laws and of the agencies responsible for overseeing their application are shown in Table 1. Designation of the plan administrator and the plan trustee The plan administrator is the person, group or entity responsible for managing the affairs of an occupational pension plan. [...] The solvency of the plan is determined as the aggregate of the market value of the plan assets and the present value of future special payments, over the liabilities of the plan where the liabilities are determined on a plan termination basis. [...] Rules regarding the investment of the assets of a plan The overriding objectives of pension benefit laws are to protect the interests of plan members and, in particular, to ensure that the plans will be able to pay the promised benefits when the pensions become due.
Author : Hemant Shah
Publisher : World Bank Publications
Page : 44 pages
File Size : 40,6 Mb
Release : 1997
Category : Chile - Seguridad social
ISBN : 8210379456XXX
Author : E. P. Davis
Publisher : World Bank Publications
Page : 85 pages
File Size : 53,7 Mb
Release : 1993
Category : Canada
ISBN : 8210379456XXX
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.
Author : Frank M. Kleiler
Publisher : Unknown
Page : 158 pages
File Size : 48,9 Mb
Release : 1970
Category : Old age pensions
ISBN : MINN:31951D03118713D
Author : Dimitri Vittas
Publisher : World Bank Publications
Page : 45 pages
File Size : 44,5 Mb
Release : 1998
Category : Pension reform
ISBN : 9788042911119
March 1998 Although controversial, investment and other draconian regulations for private pension funds are suitable for countries with weak capital markets and little tradition of private pension provision. But regulations should be relaxed as private pension funds gain in maturity. Like other financial institutions, private pension funds require a panoply of prudential and protective regulations to ensure their soundness and safeguard the interests of affiliated workers. These regulations include authorization criteria (such as minimum capital, fit and proper, and business plan requirements), asset segregation and external custody, professional asset management, external audits and actuarial reviews, extensive information disclosure, and effective supervision. These regulations resemble those applied to banks and insurance companies and are not particularly controversial. But private pension funds in developing countries are often subject to structural and operational controls that are more controversial. Such controls include special authorizations and market segmentation, one account per worker and one fund per company rules, nondiscrimination provisions, regulations on fees and commissions, investment limits, minimum profitability rules, and state guarantees. Vittas discusses the use of such regulations in developing countries that have implemented systemic pension reforms. He draws a distinction between this approach and the more relaxed regulatory regime that relies on the prudent person rule found in more advanced countries. He argues that the draconian regulatory approach can be justified on several grounds, but especially by the compulsory nature of the pension system, the absence of strong and transparent capital markets, and the lack of a long tradition of private pension funds. But the regulations should be progressively relaxed as private pension funds and their affiliated workers gain in experience, sophistication, and maturity. This paper-a product of the Development Research Group-is part of a larger effort in the group to study pension funds and institutional investors.
Author : Pulle Subrahmanya Srinivas,Juan Yermo
Publisher : World Bank Publications
Page : 56 pages
File Size : 52,9 Mb
Release : 1999-01-01
Category : Business & Economics
ISBN : 0821344889
" "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.
Author : OECD
Publisher : OECD Publishing
Page : 137 pages
File Size : 40,8 Mb
Release : 2010-08-18
Category : Electronic
ISBN : 9789264087095
This book provides a structured approach for evaluating a jurisdiction’s occupational pension regulatory system in relation to the OECD Core Principles of Occupational Pension Regulation.
Author : Olivia S. Mitchell,Raimond Maurer,J. Michael Orszag
Publisher : Oxford University Press
Page : 256 pages
File Size : 55,7 Mb
Release : 2016-11-10
Category : Business & Economics
ISBN : 9780192512321
In the wake of the worst financial crisis since the Great Depression, lawmakers and regulators around the world have changed the playbook for how banks and other financial institutions must manage their risks and report their activities. The US Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the European System of Financial Supervision (ESFS) is also crafting a framework to supervise regulated financial sector institutions including banks, insurers, pension funds, and asset managers. The implosion of the financial sector has also prompted calls for accounting changes from those seeking to better understand how assets and liabilities are reported. Initially banks were seen by many as the most important focus for regulatory reform, but other institutions are now attracting policymaker attention. There is logic to this in terms of managing systemic risk and ensuring a level playing field that avoids arbitrage between institutional structures. Yet the nature of pension and insurer liabilities is so different from that of bank liabilities that careful attention is needed in drafting appropriate rules. The new rules are having both direct and spill-over effects on retirement systems around the world. The first half of this volume undertakes an assessment of how global responses to the financial crisis are potentially altering how insurers, pension plan sponsors, and policymakers will manage risk in the decades to come. The second half evaluates developments in retirement saving and retirement products, to determine which and how these might help meet shortfalls in retirement provision.
Author : Frank M. Kleiler
Publisher : Unknown
Page : 128 pages
File Size : 44,6 Mb
Release : 1970
Category : Pensions
ISBN : OCLC:1049419514
Author : Marco Micocci,Greg N. Gregoriou,Giovanni Batista Masala
Publisher : CRC Press
Page : 766 pages
File Size : 46,6 Mb
Release : 2010-01-25
Category : Business & Economics
ISBN : 9781439817544
As pension fund systems decrease and dependency ratios increase, risk management is becoming more complex in public and private pension plans. Pension Fund Risk Management: Financial and Actuarial Modeling sheds new light on the current state of pension fund risk management and provides new technical tools for addressing pension risk from an integr
Author : Norman Toulson
Publisher : Gower Publishing Company, Limited
Page : 294 pages
File Size : 48,5 Mb
Release : 1986
Category : Business & Economics
ISBN : UOM:39015015299459
Describes the steps involved in conceiving, creating, operating and terminating a scheme. Interprets relevant tax and social security regulations. Deals with human problems associated with pensions.
Author : Isla Carmichael
Publisher : Unknown
Page : 226 pages
File Size : 41,9 Mb
Release : 2005
Category : Business & Economics
ISBN : 9780802036476
. In "Pension Power," Isla Carmichael argues that unions could ? and should ? have a new role to play in the economy by gaining control over their members? pension funds.
Author : John R. Evans,Michael Orszag,John R. Piggott
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 55,5 Mb
Release : 2008
Category : Business & Economics
ISBN : STANFORD:36105131799830
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.
