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This paper focuses on the fees that are charged to participants in mandatory, defined contribution pension systems, focusing on the experience of Latin America, Central and Eastern Europe, Australia, and Sweden. In order to compare fees across countries, this paper looks at the evolution of a...
In this paper we investigate the governance structure of Italian pensions funds. First, we conduct a brief but critical … of interest. Secondly, we assess the governance of closed and open pension funds in Italy by analyzing their bylaws and …
place internal and external governance mechanisms and investment controls to ensure the sound management of these funds and … pension fund governance and investment management. In particular, the requirements of accountability, suitability and … transparency are broadly met by these reserve funds. However, some specific details of the funds’ governance and investment …
national objectives. These funds have raised concerns about: (i) financial stability, (ii) corporate governance and (iii … of portfolios that increase risk. Enhancing governance and transparency of SWFs is important, but such considerations …‘accroître les risques. Il est important d‘améliorer la gouvernance et la transparence des fonds souverains, mais ces considérations …
This paper suggests avenues for strengthening the governance and management of the Japanese Government Pension … major governance reform that aimed at increasing the transparency and autonomy of the fund. While much improved, the new … governance structure still falls short of international best practices and in some aspects does not meet some of the basic …
guidelines. The paper focuses mainly on the general size and structure of the funds, the investment framework and the governance … of the funds. The internal management of the funds appears to be strong, with governance and risk management structures … la structure des fonds, le cadre des investissements et la gouvernance des fonds. La gestion interne des fonds apparait …
into account the specific governance context in which pension funds are situated. The aim of this research is, first, to … mécanismes de gouvernance spécifiques de ces régimes. L’objectif de cette étude est, dans un premier temps, de mieux appréhender …
The principal purpose of this paper is to analyse the trade-off between the uncertainty in contributions on the one hand and benefits on the other that is embedded in different pension arrangements. The paper employs the funding ratio (ratio of assets to liabilities) and the replacement rate...
This paper provides a description of the risk-sharing features of pension plan design in selected OECD and non-OECD countries and how they correspond with the funding rules applied to pension funds. In addition to leading to a better understanding of differences in funding rules across countries...
Underfunded pension funds are in the same position as other creditors when their sponsoring firm becomes insolvent, having to join the queue claiming the remaining assets of the firm. Arguments for granting pension fund priority rights over other creditors are the same as for introducing pension...