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Supervising Private Pensions: Institutions and Methods

Autor: Organización para la Cooperación y el Desarrollo Económico (OCDE)
Año: 2004
Resumen: Supervising Private Pensions: Institutions and Methods offers detailed and comparable information on the supervisory agencies, institutional design and methods in over 40 countries in the OECD area, Latin America, Eastern Europe and South-east Asia. It is a valuable and practical contribution for policy makers who wish to benefit from pension supervision experiences across countries.

Fuente: https://www.oecd.org/en/publications/supervising-private-pensions-institutions-and-methods_9789264016989-en.html
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Informes
Idioma:

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Reforming Public Pensions

Autor: Organización para la Cooperación y el Desarrollo Económico (OCDE)
Año: 2004
Resumen: This conference proceedings provided an opportunity for experts to compare public pension reform efforts in Central and Eastern Europe with those in other OECD countries. It looks at the reasons for pension reform, policy choices and constraints, the well-being of older people and distributional consequences of pension reform, and implementation of pension reform proposals.

Fuente: Organización para la Cooperación y el Desarrollo Económico (OCDE)
Clasificación: Reformas de Pensiones
Tipo de Publicación: Informes
Idioma:

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Gender-Differentiated Impacts of Pension Reform

Autor: van Selm, Alexandra
Año: 2004
Resumen: Many countries have initiated pension reform to cope with aging populations and fiscally unsustainable pension systems. The reforms often aim to separate the safety net and savings functions of pension systems, and to minimize incentive distortions. They usually involve moving from a single public pillar to a multipillar system, with the latter consisting of a private pillar (with defined contributions) and a more targeted public pillar (with defined benefits). Gender issues arise in pension design because men and women have different employment histories and life expectancies. Women tend to have shorter histories in the formal labor market because they take time off to care for children and are permitted to retire earlier than men. During their working years they also earn less than men, on average (World Bank 2001). As a result, women contribute less to pension systems than men, and are likely to end up with smaller pensions if benefits are closely linked to contributions-as in the defined contribution pillar of new systems. However, the public pillar in new systems often includes a safety net that provides a public transfer to women.

Fuente: Banco Mundial
Clasificación: Reformas de Pensiones
Tipo de Publicación: Informes
Idioma:

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Mauritius: Modernizing an Advanced Pension System

Autor: Banco Mundial
Año: 2004
Resumen: The report examines the pension system in Mauritius, a country which over the past two decades, has made enormous progress in economic development, and poverty reduction, and which today, is facing a much earlier demographic transition in its development cycle, than other upper income, and high income countries have experienced. The questions being addressed are whether the current pensions arrangements will be financially sustainable, given the projected ageing of the population, and whether they will be equitable and efficient, at a time when the system will be relied on by a growing number of people. Mauritius has a three-tiered pension system that helps the poor, and provides moderate (although declining, in the case of the private sector) replacement income for working people, and no regulatory protection for voluntary retirement schemes. The un-funded nature of the universal scheme, together with the income maintenance scheme of the civil service, are endangering the country's economic stability. At the same time, declining benefits to the working class, are jeopardizing living standards at retirement, while the lack of a regulatory environment for private savings, discourages maintaining private savings through the formal financial system. Concurrently, public sector management of the private contributory schemes, deprives contributors of maximum returns, and concentrates risk only on the local economy, enhances government consumption, and deprives the domestic private sector of financing sources. The poor performance of the contributory tiers, exercises upward pressure on the un-funded tier, increasing the system's fiscal risks. The report adopts an approach that seeks to diversify the economic, and political risks inherent in pension systems, for while economic risk can come from fiscal concerns, particularly of un-funded schemes, and from re-distributive concerns, political risks otherwise, arise from outside the country's financing capacity. The approach suggests maintaining a small, and efficient un-funded re-distributive component (first pillar) to meet the needs of the poor, and, a dual, funded, and privately managed component for income maintenance, and life-time consumption appease. The dual character of the funded component aims to assure moderate replacement income, via a mandatory privately managed scheme (second pillar), and to provide as well, opportunities for private provision to meet individual preferences, or labor market response for supplementary pensions (third pillar).

Fuente: Banco Mundial
Clasificación: Reformas de Pensiones
Tipo de Publicación: Informes
Idioma:

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Proving Incentives for Long-Term Investment by Pension Funds: The Use of Outcome-based Benchmarks

Autor: Stewart, Fiona
Año: 2004
Resumen: A fundamental goal of any pension system is to ensure that members receive an adequate income when they retire. Although traditional defined benefit pension plans set out how pension income will be determined in advance and then strive to deliver this, the growing number of defined contribution plans accumulate a sum of assets which can then be turned into a pension income on retirement. However, the amount of this retirement income is not predefined This frequently leads to a focus by not only most pension providers, but also regulators and pension plan members themselves on the short-term accumulation of pension assets rather than the longer-term goal of securing an adequate retirement income. This paper discusses a possible solution to this challenge: the use of benchmarks to encourage pension funds to invest with the longer-term goal of delivering adequate retirement income in mind. Examples are provided of leading pension funds that already work with long-term, outcome-based benchmarks. The paper suggests a methodology for pension regulators to use in order to incentivize pension funds in their jurisdictions to adopt a similar approach.

Fuente: Banco Mundial
Clasificación: Fondos de Inversión
Tipo de Publicación: Documentos de Trabajo
Idioma:

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