Pension Revolution

Author : Keith P. Ambachtsheer
Publisher : John Wiley & Sons
Page : 252 pages
File Size : 51,7 Mb
Release : 2011-07-05
Category : Business & Economics
ISBN : 9781118160657

Get Book

Pension Revolution by Keith P. Ambachtsheer Pdf

Praise for Pension Revolution "When Keith Ambachtsheer puts his keen mind to work on a problem, watch out! Here he exposes today's fragile arrangements for the most serious social dilemma of our times--financing retirement. Then he provides a compelling and powerful set of solutions. His writings are essential reading for all who care about the future of American living standards." --Peter Bernstein, founder and President, Peter L. Bernstein, Inc., and author of Capital Ideas and Against the Gods "This book describes one of the most ingenious inventions in the history of mankind: pension funds offering credible promises about old-age income. It reads like a thriller: how can well-governed pension funds be created in an imperfect world in which mortals wrestle with foibles and moral shortcomings? One of the world's leading experts on pensions searches for the answer--and finds it." --Lans Bovenberg, Scientific Director, Network for Studies on Pensions, Aging, and Retirement, Tilburg University, The Netherlands "Pension Revolution exposes the inadequacies of current pension systems and persuasively makes the case for the fundamental changes that are needed. It is essential reading for both the pension industry and policymakers." --Elizabeth Bryan, Chair, Investment Committee, Unisuper Management PM Ltd, Australia "Most analyses of complicated issues deal with complexity by simplifying or only looking at one piece-part, and, in doing so, provide limited value. In stark contrast, Keith Ambachtsheer boldly wades into the complexity in Pension Revolution to come up with a valuable integrative solution. He is a most welcome revolutionary!" --Roger Martin, Dean, Joseph L. Rotman School of Management, University of Toronto, Canada "We have known Keith for over ten years, and consistently over that time, he has constructively and comprehensively challenged conventional wisdom. He has done this so effectively that many of his initial thoughts have now become universally accepted norms. Such is his energy however that he continues to push the boundaries of pension and investment thinking." --Peter Moon, Chief Investment Officer, Universities Superannuation Scheme Ltd, UK "Pension Revolution not only explains the shortcomings of the existing pension system and the underlying design features that have resulted in the current pension upheaval. It also offers thoughtful and creative suggestions for prospective pension design. A must-read for anyone interested in the future of retirement finance." --James Poterba, Professor of Economics, Massachusetts Institute of Technology and a member of the TIAA-CREF Board of Trustees

Author : Peter F. Drucker
Publisher : Routledge
Page : 245 pages
File Size : 53,6 Mb
Release : 2017-07-28
Category : Business & Economics
ISBN : 9781351477635

Get Book

The Pension Fund Revolution by Peter F. Drucker Pdf

In The Pension Fund Revolution, originally published nearly two decades ago under the title The Unseen Revolution, Drucker reports that institutional investors, especially pension funds, have become the controlling owners of America's large companies, the country's only capitalists. He maintains that the shift began in 1952 with the establishment of the first modern pension fund by General Motors. By 1960 it had become so obvious that a group of young men decided to found a stock-exchange firm catering exclusively to these new investors. Ten years later this firm (Donaldson, Lufkin & Jenrette) became the most successful, and one of the biggest, Wall Street firms.Drucker's argument, that through pension funds ownership of the means of production had become socialized without becoming nationalized, was unacceptable to the conventional wisdom of the country in the 1970s. Even less acceptable was the second theme of the book: the aging of America. Among the predictions made by Drucker in The Pension Fund Revolution are: that a major health care issue would be longevity; that pensions and social security would be central to American economy and society; that the retirement age would have to be extended; and that altogether American politics would increasingly be dominated by middle-class issues and the values of elderly people.While readers of the original edition found these conclusions hard to accept, Drucker's work has proven to be prescient. In the new epilogue, Drucker discusses how the increasing dominance of pension funds represents one of the most startling power shifts in economic history, and he examines their present-day Impact. The Pension Fund Revolution is now considered a classic text regarding the effects of pension fund ownership on the governance of the American corporation and on the structure of the American economy altogether. The reissuing of this book is more timely now than ever. It provides a w

Author : Peter F. Drucker
Publisher : Elsevier
Page : 223 pages
File Size : 44,9 Mb
Release : 2013-09-11
Category : Political Science
ISBN : 9781483221052

Get Book

The Unseen Revolution by Peter F. Drucker Pdf

The Unseen Revolution: How Pension Fund Socialism Came to America covers the principles and concepts of the American pension fund socialism. This book is composed of five chapters, and begins with the history and developments of pension fund socialism in the United States. The next chapter deals with the fundamental problems of economic structure, policy, and, as well as the problems of authority, legitimacy, and control of the so-called Social Security. The discussion then shifts to involved social institutions and issues, along with the political lessons and issues of pension fund socialism. The last chapter considers the American politics realignments and readjustments.

Author : Peter Drucker
Publisher : Routledge
Page : 232 pages
File Size : 42,8 Mb
Release : 2017-09-25
Category : Electronic
ISBN : 1138537365

Get Book

The Pension Fund Revolution by Peter Drucker Pdf

In The Pension Fund Revolution, originally published nearly two decades ago under the title The Unseen Revolution, Drucker reports that institutional investors, especially pension funds, have become the controlling owners of America's large companies, the country's only capitalists. He maintains that the shift began in 1952 with the establishment of the first modern pension fund by General Motors. By 1960 it had become so obvious that a group of young men decided to found a stock-exchange firm catering exclusively to these new investors. Ten years later this firm (Donaldson, Lufkin & Jenrette) became the most successful, and one of the biggest, Wall Street firms. Drucker's argument, that through pension funds ownership of the means of production had become socialized without becoming nationalized, was unacceptable to the conventional wisdom of the country in the 1970s. Even less acceptable was the second theme of the book: the aging of America. Among the predictions made by Drucker in The Pension Fund Revolution are: that a major health care issue would be longevity; that pensions and social security would be central to American economy and society; that the retirement age would have to be extended; and that altogether American politics would increasingly be dominated by middle-class issues and the values of elderly people. While readers of the original edition found these conclusions hard to accept, Drucker's work has proven to be prescient. In the new epilogue, Drucker discusses how the increasing dominance of pension funds represents one of the most startling power shifts in economic history, and he examines their present-day Impact. The Pension Fund Revolution is now considered a classic text regarding the effects of pension fund ownership on the governance of the American corporation and on the structure of the American economy altogether. The reissuing of this book is more timely now than ever. It provides a wealth of information for sociologists, economists, and political theorists.

Author : Keith P. Ambachtsheer
Publisher : John Wiley & Sons
Page : 256 pages
File Size : 42,6 Mb
Release : 2016-02-23
Category : Business & Economics
ISBN : 9781119191001

Get Book

The Future of Pension Management by Keith P. Ambachtsheer Pdf

A real-world look at the pension revolution underway The Future of Pension Management offers a progress report from the field, using actual case studies from around the world. In the mid-70s, Peter Drucker predicted that demographic dynamics would eventually turn pensions into a major societal issue; in 2007, author Keith Ambachsheer's book Pension Revolution laid out the ways in which Drucker's predictions had come to pass. This book provides a fresh look at the situation on the ground, and details the encouraging changes that have taken place in pension management concepts and practices. The challenges identified in 2007 are being addressed, and this report shows how design, management, and investment innovation have led to measurably better pension outcomes. Pensions have become an everyday news item, and people are rightly concerned about the security of their retirement in light of recent pension scandals and the global financial crisis. This book provides a note of encouragement, detailing the ways in which today's pensions are becoming more and more secure, and the new ideas and practices that are chipping away at the challenges. Learn how pension management practices are improving Examine the uptick in positive outcomes over recent years Discover why pension investing is turning toward the long-term Consider the challenges that remain and their possible solutions Drucker's vision of a needed pension revolution is unfolding in real time. Better pension designs, more effective pension governance, and more productive pension investing are mitigating many of the issues that threatened collapse. The Future of Pension Management provides a real-world update on the state of pensions today and a look forward to the changes we still need to make.

Author : Peter Ferdinand Drucker
Publisher : Unknown
Page : 232 pages
File Size : 45,5 Mb
Release : 1996
Category : Electronic
ISBN : OCLC:638802716

Get Book

The pension fund revolution by Peter Ferdinand Drucker Pdf

Author : Anonim
Publisher : Unknown
Page : 32 pages
File Size : 41,8 Mb
Release : 1989-01-01
Category : Pension trusts
ISBN : 0863251986

Get Book

Pensions by Anonim Pdf

Author : Michael J. Clowes
Publisher : John Wiley & Sons
Page : 326 pages
File Size : 46,6 Mb
Release : 2000-06-13
Category : Business & Economics
ISBN : 9780471384830

Get Book

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

Author : Robert Holzmann,Edward Palmer,Robert Palacios,Stefano Sacchi
Publisher : World Bank Publications
Page : 441 pages
File Size : 40,9 Mb
Release : 2019-10-18
Category : Business & Economics
ISBN : 9781464814563

Get Book

Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes by Robert Holzmann,Edward Palmer,Robert Palacios,Stefano Sacchi Pdf

The individual account-based but unfunded approach to mandated public pension systems is a reform benchmark for all pension schemes, promising fair and financially sustainable benefits. Nonfinancial defined contribution (NDC) pension schemes originated in Italy and Sweden in the 1990s, were then adopted by Latvia, Norway, and Poland, envisaged but not implemented in various other countries, such as Egypt and Russia, and remain under discussion in many nations around the world, such as China and France. In its complete form, the approach also comprises budget-financed basic income provisions and mandated or voluntary funded provisions. Volume 1 of this book offers an assessment of countries that were early adopters before addressing key aspects of policy implementation and design review, including how best to combine basic income provisions with an NDC scheme, how to deal with heterogeneity in longevity, and how to adjust NDC scheme design and labor market policies to deliver on reform expectations. Volume 2 addresses a second set of issues, including the gender pension gap and what family policies can do about it within the NDC framework, labor market issues and administrative challenges of NDC schemes and how countries are coping, the role of communication in these pension schemes, the complexity of cross-border pension taxation, and much more. Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes is the third in a series of books analyzing the progress, challenges, and adjustment options of this reform revolution for mandated public pension systems. 'Pension reform is a major issue in many countries. The development of the nonfinancial defined contribution pension plan in the 90's was a major advance in pension design. By reporting actual country experiences and exploring properties of plan designs, this latest collection of essays is a valuable contribution, well worth reading.' Peter Diamond Professor at Massachusetts Institute of Technology; 2010 winner of the Nobel Memorial Prize in Economic Sciences 'A highly stimulating publication for policy makers and researchers alike. It pushes the analytical frontier for policy challenges that all public pension schemes are confronted with but that the nonfinancial defined contribution approach promises to handle best.' Noriyuki Takayama President, Research Institute for Policies on Pension and Aging, Tokyo, and professor emeritus, Hitotsubashi University, Tokyo 'In a changing world where pensions are more than ever linked to labor markets, communication tools, and flexibility considerations, this anthology provides a unique up-to-date analysis of nonfinancial defined contribution pension schemes. By mixing international experiences and theoretical studies, it demonstrates the high adaptability of such pension schemes to changing social challenges.' Pierre Devolder Professor of Finance and Actuarial Sciences, Catholic University of Louvain, Belgium

Author : Olivia S. Mitchell,Sylvester J. Schieber
Publisher : University of Pennsylvania Press
Page : 310 pages
File Size : 41,6 Mb
Release : 1998-05-29
Category : Business & Economics
ISBN : 0812234391

Get Book

Living with Defined Contribution Pensions by Olivia S. Mitchell,Sylvester J. Schieber Pdf

Table of Contents

Author : Nazaré da Costa Cabral,Nuno Cunha Rodrigues
Publisher : Springer Nature
Page : 359 pages
File Size : 40,8 Mb
Release : 2019-11-26
Category : Business & Economics
ISBN : 9783030294977

Get Book

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.

Author : Norman Toulson
Publisher : Unknown
Page : 120 pages
File Size : 42,5 Mb
Release : 1988
Category : Business & Economics
ISBN : UVA:X001558232

Get Book

The Pensions Revolution by Norman Toulson Pdf

Author : Indermit Singh Gill,Truman Packard,Juan Yermo
Publisher : Stanford University Press
Page : 372 pages
File Size : 52,8 Mb
Release : 2005
Category : Social Science
ISBN : 0804752389

Get Book

Keeping the Promise of Social Security in Latin America by Indermit Singh Gill,Truman Packard,Juan Yermo Pdf

Taking stock of reforms to social security in Latin America and the Caribbean, "Keeping the Promise of Old Age Security" in Latin America and the Caribbean reassesses the priorities of pension systems in the region.

Author : Robin Blackburn
Publisher : Unknown
Page : 550 pages
File Size : 50,6 Mb
Release : 2007-08
Category : Electronic
ISBN : 1422367819

Get Book

Banking on Death by Robin Blackburn Pdf

Traces the origins & development of the pension idea, from the days of the French Revolution to the troubles of the modern welfare state. As we live longer, employers are closing their pension schemes & claim that public treasuries will not be able to cope with the retirement of the baby-boomers. Blackburn discusses his bold proposal for how to pay for decent pensions for all. Argues that pension funds have been depleted by wasteful promotion & used as gambling chips by ruthless & overpaid top executives. Proposes a public regime of asset-based welfare, drawing on the ideas of John Maynard Keynes & Rudolf Meidner, that could ensure secondary pensions for all & foster a more responsible & humane pattern of economic development.

Author : Jack A. Goldstone
Publisher : Oxford University Press
Page : 177 pages
File Size : 48,8 Mb
Release : 2023
Category : History
ISBN : 9780197666302

Get Book

Revolutions: a Very Short Introduction by Jack A. Goldstone Pdf

"In the 20th and 21st century revolutions have become more urban, often less violent, but also more frequent and more transformative of the international order. Whether it is the revolutions against Communism in Eastern Europe and the USSR; the "color revolutions" across Asia, Europe and North Africa; or the religious revolutions in Iran, Afghanistan, and Syria; today's revolutions are quite different from those of the past. Modern theories of revolution have therefore replaced the older class-based theories with more varied, dynamic, and contingent models of social and political change. This new edition updates the history of revolutions, from Classical Greece and Rome to the Revolution of Dignity in the Ukraine, with attention to the changing types and outcomes of revolutionary struggles. It also presents the latest advances in the theory of revolutions, including the issues of revolutionary waves, revolutionary leadership, international influences, and the likelihood of revolutions to come. This volume provides a brief but comprehensive introduction to the nature of revolutions and their role in global history"--