Despite the importance of Corporate Social Responsibility (CSR) firm controversies, little is known about their effect on institutional investors. We study the most important institutional investors worldwide: pension funds and mutual funds. The separation between fund management and ownership...

"In this examination of labor unions and state employee pensions, political scientist Carolyn Abott examines the increasing tendency of state governments to act with fiscal abandon as they create policy, despite the relatively constrained nature of their fiscal resources. She finds that...

In this report, we consider policies to help people appropriately manage their defined contribution (DC) pension wealth through later life. We draw on evidence in a report published alongside this one (Boileau, Cribb and Emmerson, 2025), which sets out key information on the landscape in which...

This report is one of two reports on the management of pension wealth in retirement conducted as part of the Pensions Review, led by the Institute for Fiscal Studies in partnership with the abrdn Financial Fairness Trust. In this report, we examine the decisions that older individuals face as...

Because of demographic and fiscal challenges, supplementary pensions are becoming increasingly important to ensure adequate retirement income for EU citizens. In this context, the EU has set minimum requirements for supplementary pensions provided by institutions for occupational retirement...

This paper examines how offering sustainable investment options influences sustainable consumption behavior. We combine a natural experiment in which individuals receive an option to switch to a pension plan with a strong sustainability profile with detailed household register data. This...

This paper establishes a theoretical link between actuarial neutrality and the Oaxaca-Blinder decomposition to empirically assess vertical equity in public defined-benefit schemes. We demonstrate how this approach can be generalized to non-linear functions, point systems, and notional accounts....

This Global Financial Stability Note examines the growth of the pension fund sector and the potential financial stability implications. Historically, pension funds have been seen as a contributor to financial stability because of their long-term and well-diversified liabilities. However, the...

Using supervisory data of alternative investment funds investing in bonds, I exploit the COVID-19 crisis to examine the effectiveness of redemption restrictions from a financial stability perspective. First, I find that redemption restrictions reduced outflows during the March 2020 market...

Because of demographic and fiscal challenges, supplementary pensions are becoming increasingly important to ensure adequate retirement income for EU citizens. In this context, the EU has set minimum requirements for supplementary pensions provided by institutions for occupational retirement...

This study aimed to analyze whether formal managers' qualifications explain the Brazilian pension funds' disclosure level. It started from the assumption of information asymmetry between stakeholders. We also recognize that the problems related to asymmetry in companies participating in the...

This paper provides a comparative analysis of the pension systems in Brazil and Canada, focusing on their historical evolution, structural frameworks, and the demographic and fiscal challenges they face. By examining the development of these systems, the study highlights the unsustainable...

Despite the importance of Corporate Social Responsibility (CSR) firm controversies, little is known about their effect on institutional investors. We study the most important institutional investors worldwide: pension funds and mutual funds. The separation between fund management and ownership...

The Pan-European Personal Pension Product (PEPP) is a strategic initiative of the European Union (EU) aimed at creating a harmonized, portable pension savings framework that addresses the challenges of population aging, increased labor mobility, and the widening pension gap across Member States....