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Author: Franco Modigliani
Publisher: Cambridge University Press
ISBN: 9780521834117
Category : Business & Economics
Languages : en
Pages : 282
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Book Description
This book is unique as it presents an academic and a practical aspect on managing pension funds to clarify the global debate on social security. The authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. The success of reforms depends on financial innovation to mitigate key risks and some innovations are discussed, which also demonstrates how pension reform choices affect the achievement of retirement objectives. Finally, the authors examine some proposed hybrid options to show how the beneficial features of these hybrids can be captured through good design in a single fund.
Author: Franco Modigliani
Publisher: Cambridge University Press
ISBN: 9780521834117
Category : Business & Economics
Languages : en
Pages : 282
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Book Description
This book is unique as it presents an academic and a practical aspect on managing pension funds to clarify the global debate on social security. The authors establish the basic choices in designating any system to help policy makers develop the system that achieves their many objectives. The success of reforms depends on financial innovation to mitigate key risks and some innovations are discussed, which also demonstrates how pension reform choices affect the achievement of retirement objectives. Finally, the authors examine some proposed hybrid options to show how the beneficial features of these hybrids can be captured through good design in a single fund.
Author: Franco Modigliani
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 247
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Book Description
Author: Mr.Peter S. Heller
Publisher: International Monetary Fund
ISBN: 1451848145
Category : Business & Economics
Languages : en
Pages : 31
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Book Description
This paper argues that there are significant risks, limitations, and complications associated with reliance upon mandatory DC, fully funded schemes as the dominant public pension pillar. Policies to limit risks may result in the government being reinjected into playing an important financial role in the provision of social insurance. For many countries, the principal source of old age support should thus derive from a well-formulated, public DB pillar, with a significant amount of prefunding. A DC/FF pillar can play a useful supplemental role in a multi-pillar system for the accumulation of pension savings.
Author: Peter Heller
Publisher:
ISBN:
Category :
Languages : en
Pages : 30
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Book Description
This paper argues that there are significant risks, limitations, and complications associated with reliance upon mandatory DC, fully funded schemes as the dominant public pension pillar. Policies to limit risks may result in the government being reinjected into playing an important financial role in the provision of social insurance. For many countries, the principal source of old age support should thus derive from a well-formulated, public DB pillar, with a significant amount of prefunding. A DC/FF pillar can play a useful supplemental role in a multi-pillar system for the accumulation of pension savings.
Author: Martin Rein
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 490
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Book Description
The contributions to this volume offer an analysis of the pensions crisis: how it has come about, what it means and what measures can be taken to offset the effects of a massive shortfall between the available resources and public expectations.
Author: Anand Bordia
Publisher: TATA McGraw-Hill Publishing Company
ISBN:
Category : Business & Economics
Languages : en
Pages : 394
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Book Description
Contributed articles.
Author: Stephen J. Kay
Publisher: OUP Oxford
ISBN: 0191527696
Category : Business & Economics
Languages : en
Pages : 448
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Book Description
Latin American experiments with pension reform began when Chile converted its public pay-as-you-go system to a system of private individual accounts in the early 1980s. Several other Latin American countries then followed suit, inspired both by Chile's reforms and by World Bank recommendations stressing compulsory government-mandated individual saving accounts. Individual accounts were subsequently introduced in a number of countries in Europe and Asia. Many are now re-evaluating these privatisations in an effort to 'reform the reform' to make these systems more efficient and equitable. This volume is the first to assess pension reforms in this new 'post-privatization' era. After a discussion on demographic trends in the foreword by Nobel laureate Robert W. Fogel, Section 1 of the book includes chapters on the role of pension system default options, the impact of gender, and a discussion of the World Bank's policies on pension reform. The chapter on the evidence from Chile's new social protection survey points to key lessons from the world's first privatization. Section 2 offers in-depth analysis of several significant reform initiatives in the hemisphere, and includes chapters on the United States, Canada, Mexico, Costa Rica, Brazil, Peru, Uruguay and Argentina. The volume provides an unparalleled account of the lessons from pension reform in the Americas, addressing the most pressing policy issues and highlighting a broad range of country experiences.
Author: Martin Neil Baily
Publisher: Peterson Institute
ISBN: 0881325635
Category : Pensions
Languages : en
Pages : 534
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Book Description
Author: Nicholas Barr
Publisher: Oxford University Press
ISBN: 9780199741977
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis should be framed in a second-best context-- simple economic models are a bad guide to policy design in a world with imperfect information and decision-making, incomplete markets and taxation. * Any choice of pension system has risk-sharing and distributional consequences, which the book recognizes explicitly. Barr and Diamond's analysis includes labor markets, capital markets, risk sharing, and gender and family, with comparison of PAYG and funded systems, recognizing that the suitable level of funding differs by country. Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to Chile and China.
Author: Arun S. Muralidhar
Publisher: Stanford University Press
ISBN: 9780804745215
Category : Business & Economics
Languages : en
Pages : 372
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Book Description
This book gives state-of-the-art guidance on how to implement investment strategy with cutting-edge practices of plan sponsors and investment managers. All aspects of fund management will be seen in a fresh light, as professionals read about current practical and theoretical twists and turns in asset allocation, risk management, and performance evaluation and implementation.
