This paper inquires into the forces that drive the practice of risk management at defined benefit (DB) pension funds in Germany, Netherlands, United Kingdom and the United States in the aftermath of the perfect pension storm. First, pension funds‘...

The public pension system of Japan provides coverage for all, irrespective of occupation and income. Corporate pension plans provide additional benefits over the public pension in order to meet the diversified financial needs in retirement and play a...

Drawing on the experience of the pensions and other financial sectors, this paper examines what sort of risk-management framework pension funds should have in place. Such frameworks are broken down into four main categories: management oversight and...

This paper assesses the impact of different quantitative approaches to regulate investment risk on the retirement income stemming from defined contribution (DC) pension plans. It looks at how such regulations affect the spectrum of investment...

This paper discusses responses to current financial and economic crisis by regulators, supervisors and policy makers in the area of private pensions. These responses are examined in the light of international guidelines, best practices and...

This paper provides a comparative analysis of defined contribution (DC) pension systems in Australia, Ireland, the United Kingdom and the United States. There are considerable similarities in the systems which have evolved out of employer sponsored...

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...

China currently has a highly diversified structure of pension regulation and supervision. In this paper we first review the legal framework of private pension fund regulation and supervision in other economies, including Australia, Chile, Hong Kong...

As the need for investment in infrastructure continues to grow, private sector financing for infrastructure projects has developed around the world. Given the long-term growth and (potentially) low correlation aspects of infrastructure investments,...

Pension reform around the world in recent decades has focused mainly on the formal sector. Consequently, many of those working in the informal sector have been left out of structured pension arrangements, particularly in developing countries – a...

This paper discusses why the development of pension systems is important for the African region. It also looks at the current pension arrangements in selected African countries. The paper was designed as an overview/background document to provide...

This paper reviews the impact of ageing on private pensions, in particular on the payout phase, assesses the part that annuities can play in financing retirement, and examines the role of financial markets in facilitating the allocation on assets...

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...

The role of private pensions in the provision of retirement income has grown significantly in the past two decades, reflecting efforts by many countries to trim down unsustainable pay-as-you-go benefits. The role of private provision of retirement...

This report presents an initial assessment of the financial performance of privately managed pension funds, both mandatory and voluntary, in Latin America and Central and Eastern Europe, as well as selected OECD countries. It provides a comparative...

This paper focuses on describing the international practice on the various forms of retirement benefit payment currently allowed in countries throughout the world and the regulatory environment surrounding these different forms of benefit payment....

This paper assesses how countries‘ pension arrangements and regulation shape the appropriate structure and flexibility of retirement payout options. The paper aims at providing a guide to policy makers on how to address the diverse questions posed...

This paper describes a number of national annuity markets, the types of products typically available, the demand for these products, the value for money on offer and the dynamics of the supply side. It explores supply and demand characteristics,...

Defined benefit pension plans can entail one of the biggest liabilities that an exchange-listed company has on its balance-sheet. There exist comprehensive requirements for the reporting of such liabilities. This paper examines the impact that...

This report provides an analysis of aggregate investment performance by country on a risk adjusted basis using relatively standard investment performance measures. The report also describes privately managed pension funds around the world and the...