Pension Funds

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Risk Management for Pension Funds

Author : Francesco Menoncin
Publisher : Springer Nature
Page : 239 pages
File Size : 52,5 Mb
Release : 2021-02-09
Category : Business & Economics
ISBN : 9783030555283

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Risk Management for Pension Funds by Francesco Menoncin Pdf

This book presents a consistent and complete framework for studying the risk management of a pension fund. It gives the reader the opportunity to understand, replicate and widen the analysis. To this aim, the book provides all the tools for computing the optimal asset allocation in a dynamic framework where the financial horizon is stochastic (longevity risk) and the investor's wealth is not self-financed. This tutorial enables the reader to replicate all the results presented. The R codes are provided alongside the presentation of the theoretical framework. The book explains and discusses the problem of hedging longevity risk even in an incomplete market, though strong theoretical results about an incomplete framework are still lacking and the problem is still being discussed in most recent literature.

The Contradictions of Pension Fund Capitalism

Author : Kevin Skerrett,Johanna Weststar,Simon Archer (Lawyer),Chris Roberts
Publisher : Labor and Employment Research Association
Page : 0 pages
File Size : 47,5 Mb
Release : 2017
Category : Financialization
ISBN : 0913447145

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The Contradictions of Pension Fund Capitalism by Kevin Skerrett,Johanna Weststar,Simon Archer (Lawyer),Chris Roberts Pdf

It is often hoped and assumed that union stewardship of pension investments will produce tangible and enduring benefits for workers and their communities while minimizing the negative effects of what are now global and intensely competitive capital markets. At the core of this book is a desire to question the proposition that workers and their organizations can exert meaningful control over pension funds in the context of current financial markets. The Contradictions of Pension Fund Capitalism is an engaging and readable text that will be of specific interest to members of the labor movement, pension activists, pension trustees, fund administrators, environmental activists, and employers/managers, as well as academics involved in pension or labor research. The contents and arguments of the book are applicable across the United States, Canada, the United Kingdom, Australia, New Zealand, and Ireland, because these countries experience a similar macroeconomic context and face a similar pension landscape.

Pension Fund Capitalism

Author : Leokadia Oręziak
Publisher : Routledge
Page : 122 pages
File Size : 45,8 Mb
Release : 2022-04-10
Category : Business & Economics
ISBN : 9781000568530

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Pension Fund Capitalism by Leokadia Oręziak Pdf

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.

Pension Fund Risk Management

Author : Marco Micocci,Greg N. Gregoriou,Giovanni Batista Masala
Publisher : CRC Press
Page : 766 pages
File Size : 52,6 Mb
Release : 2010-01-25
Category : Business & Economics
ISBN : 9781439817544

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Pension Fund Risk Management by Marco Micocci,Greg N. Gregoriou,Giovanni Batista Masala Pdf

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

Pension Power

Author : Isla Carmichael
Publisher : Unknown
Page : 226 pages
File Size : 41,9 Mb
Release : 2005
Category : Business & Economics
ISBN : 9780802036476

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Pension Power by Isla Carmichael Pdf

. 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.

The Pension Strategy for Canadians

Author : Andrew Springett
Publisher : Insomniac Press
Page : 193 pages
File Size : 51,9 Mb
Release : 2007
Category : Business & Economics
ISBN : 9781897415238

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The Pension Strategy for Canadians by Andrew Springett Pdf

Over the past 20 years we have witnessed both the greatest bull market of all time and one of the most devastating crashes in history. During this period, pension funds posted returns of more than double those realized by individual investors, while being exposed to less than half of the risk and volatility individual investors were forced to endure.

Fixing the Future

Author : Bruce Little
Publisher : University of Toronto Press
Page : 417 pages
File Size : 52,6 Mb
Release : 2008-01-01
Category : Political Science
ISBN : 9780802098740

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Fixing the Future by Bruce Little Pdf

Bruce Little explains the CPP overhaul and shows why it stands as one of Canada's most significant public policy success stories, in part because it demanded an almost unparalleled degree of federal-provincial co-operation.

Pension Fund Excellence

Author : Keith P. Ambachtsheer,Don Ezra
Publisher : John Wiley & Sons
Page : 264 pages
File Size : 47,5 Mb
Release : 1998-04-23
Category : Business & Economics
ISBN : 0471246557

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Pension Fund Excellence by Keith P. Ambachtsheer,Don Ezra Pdf

Neue Ideen für mehr Erfolg! Alles, was ein Manager über Rentenfonds wissen muß - die Zusammenstellung effektiver Fonds, ihr Management, die optimale Wertsteigerung - wird hier anhand in- und ausländischer Fallbeispiele eingängig erklärt. Nutzerfreundlich werden die wichtigsten Schritte in Übersichten zusammengestellt. Verschiedene moderne Ansätze zum Rentenfondsmanagement werden kritisch bewertet.

Governance of Public Pension Funds

Author : David Hess,Gregorio Impavido
Publisher : World Bank Publications
Page : 40 pages
File Size : 41,6 Mb
Release : 2003
Category : Corporate governance
ISBN : 8210379456XXX

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Governance of Public Pension Funds by David Hess,Gregorio Impavido Pdf

An understanding of corporate governance theory can promote the adoption of appropriate governance tools to limit agency problems in public pension fund management. The absence of a market for corporate control hinders the translation of lessons from the private sector corporate world to public pension governance. The establishment of a fit, and proper governing body for public pension funds, thus may be even more important than the maintenance of a comparable body for private sector corporations. In particular, behavioral controls should be carefully designed.

Pensions at a Glance 2019 OECD and G20 Indicators

Author : OECD
Publisher : OECD Publishing
Page : 180 pages
File Size : 47,7 Mb
Release : 2019-11-27
Category : Electronic
ISBN : 9789264876101

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Pensions at a Glance 2019 OECD and G20 Indicators by OECD Pdf

The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.

No Small Change

Author : Tessa Hebb
Publisher : Cornell University Press
Page : 172 pages
File Size : 43,9 Mb
Release : 2008
Category : Investments
ISBN : 0801446961

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No Small Change by Tessa Hebb Pdf

In No Small Change, Tessa Hebb examines the ability of pension funds, now the largest single driver of financial markets around the world, to use their ownership position to change corporate practices for the sake of the bottom line and, perhaps, change the world for the better in the process. Pension funds are not the new moral conscience of the twenty-first century, but they are significant owners of today's corporations. Because pension funds have to pay out benefits over many decades, they are increasingly concerned about the long-term value of the stocks they hold in their portfolios. Risks posed by climate change can have a huge impact on future returns. To lower the risks associated with an uncertain future, pension funds are engaging corporations and using their influence to raise the environmental, social, and governance (ESG) standards of companies. At its best, Hebb finds, corporate engagement offers a long-term view of value that both promotes higher ESG standards and adds share value, thus providing long-term benefits to future pension beneficiaries. At its worst it may divert the attention of pension fund officials from their primary responsibility of ensuring the retirement benefits of their members. This book weighs the influence of corporate engagement on firms in an effort to see how the potential from this newly emerging force is being realized.

The Future of Pension Plans in the EU Internal Market

Author : Nazaré da Costa Cabral,Nuno Cunha Rodrigues
Publisher : Springer Nature
Page : 359 pages
File Size : 48,5 Mb
Release : 2019-11-26
Category : Business & Economics
ISBN : 9783030294977

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The Future of Pension Plans in the EU Internal Market by Nazaré da Costa Cabral,Nuno Cunha Rodrigues Pdf

This edited volume takes a closer look at various European pension-plan models and the recent challenges, trends and predictions related to the design of such schemes. The contributors analyse new ideas, both from national governments and European institutions, and consider current debates on topics such as the Capital Markets Union (CMU) and the so-called ‘European Pillar of Social Rights’ – calling for a new approach to social policy at the European level in response to common challenges, such as ageing and the digital revolution.This interdisciplinary work embraces economic, financial and legal perspectives, while focusing on previously selected coherence aspects in order to ensure that the analyses are comprehensive and globally consistent.

Pension Ponzi

Author : Bill Tufts,Lee Fairbanks
Publisher : John Wiley & Sons
Page : 231 pages
File Size : 54,8 Mb
Release : 2011-01-25
Category : Business & Economics
ISBN : 9781118098738

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Pension Ponzi by Bill Tufts,Lee Fairbanks Pdf

The vast majority of Canadians are blissfully unaware that every man, woman and child in Canada now owes a $35,000 share of government debt and must pay this back, with interest! Make no mistake, this debt will change our country and affect every single Canadian in the decades to come. You may think you have planned for your retirement and are safe, but the government must find a way to recover this borrowed money, and they can only do that by raising your taxes and reducing your hard-earned benefits. How did this debt come about, and why can't we simply pay it off? Pension Ponzi lays the blame squarely at the feet of the politicians who refused to stand up to Canada's public sector unions. The fact is Canada's public sector, which accounts for 20% of the workforce, has been grossly overpaid relative to their counterparts in the private sector with cushy pensions paid for with your taxes and new debt. There is no denying that the country does not have the financial resources to ensure that the next generation of Canadians will have the same standard of living as the ones before it-or to support our growing seniors population. Meeting our public sector pension obligations will break the current social safety net that is a pillar of the Canadian way. Can you escape this bleak future? Can you afford to live longer? Nationally-recognized pension expert Bill Tufts and award-winning journalist Lee Fairbanks explore how this catastrophe came about and then suggest ways that government can fix what's broken, and how you as an individual can protect yourself from the financial calamity that is about to engulf Canada.

The Money Flood

Author : Michael J. Clowes
Publisher : John Wiley & Sons
Page : 326 pages
File Size : 40,5 Mb
Release : 2000-06-13
Category : Business & Economics
ISBN : 9780471384830

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The Money Flood by Michael J. Clowes Pdf

Praise for Michael J. Clowes and the money flood "What a fine book! As an active participant in the revolution in pension investing, I could almost feel the times and tides of the past half-century shifting beneath me. Mike Clowes's splendid and articulate tour through the era is destined to become a landmark on the bookshelves of everyone interested in this illuminating history of the past, as well as its portents of the future."-John C. Bogle, founder, The Vanguard Group "The corporate pension fund ranks high among the spectacular financial innovations of the twentieth century. Mike Clowes has built a fascinating story about the impact of this flood of money on the theory and practice of investing, the financial markets, the labor force, corporate management, and the general economy. The far-reaching consequences of these changes make this authoritative and lively book must-reading for everyone."-Peter L. Bernstein, President, Peter L. Bernstein, Inc., author, Against the Gods: The Remarkable Story of Risk "The definitive history of the rise of pension fund capitalism in America."-Keith Ambachtsheer, President, KPA Advisory, author, Pension Fund Excellence: Creating Value for Shareholders "Beautifully written, broad in coverage of all the best parts of a great American story, Mike Clowes's new book gives us an easy-to-read and easy-to-enjoy explanation of who did what and when in the investment revolution of the past half-century."-Charles D. Ellis, Partner, Greenwich Associates, author, The Investor's Anthology: Original Ideas from the Industry's Greatest Minds

Pensions at Work

Author : Jack Quarter,Isla Carmichael,Sherida Ryan
Publisher : University of Toronto Press
Page : 495 pages
File Size : 51,7 Mb
Release : 2008-05-24
Category : Business & Economics
ISBN : 9781442691858

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Pensions at Work by Jack Quarter,Isla Carmichael,Sherida Ryan Pdf

Pension funds have come to play an increasingly important role within the new economy. According to Statistics Canada, in 2006, trusteed pension funds in Canada had $836 billion of assets and represented the savings of 4.6 million Canadian workers. Pensions at Work is a unique collection of papers that uses a labour perspective to deal with the socially responsible investment of pension funds. Featuring leading Canadian and international scholars, it builds on existing scholarship on socially responsible investment and on the growing interest of the Canadian labour movement in joint trusteeship. What is unique about this collection is that it synthesizes three distinct themes - socially responsible investment, pension funds, and labour studies. The contributors address an array of critical issues such as gaps in the education of union trustees of pension funds, the impact of human capital criteria on shareholder returns, the influence of corporate engagement upon corporate performance, and the nature of public-private partnerships (PPPs). Although the essays in Pensions at Work all address the nexus between socially responsible investment, pension funds, and unions, each looks at a particular manifestation of that relationship through a different disciplinary lens. This collection moves the discussion to pension funds in which union representatives are also trustees, a relatively new approach that will be of great interest to institutional investors, the labour movement, and instructors in labour studies programs.