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Author: Dimitri Vittas
Publisher: World Bank Publications
ISBN:
Category : Fondos de pensiones - Hungria
Languages : en
Pages : 46
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Book Description
Author: Dimitri Vittas
Publisher: World Bank Publications
ISBN:
Category : Fondos de pensiones - Hungria
Languages : en
Pages : 46
Get Book Here
Book Description
Author: Dimitri Vittas
Publisher:
ISBN:
Category :
Languages : en
Pages : 46
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Book Description
The early performance of ...
Author: Dimitri Vittas
Publisher: World Bank Publications
ISBN: 8042911114
Category : Pension reform
Languages : en
Pages : 45
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Book Description
March 1998 Although controversial, investment and other draconian regulations for private pension funds are suitable for countries with weak capital markets and little tradition of private pension provision. But regulations should be relaxed as private pension funds gain in maturity. Like other financial institutions, private pension funds require a panoply of prudential and protective regulations to ensure their soundness and safeguard the interests of affiliated workers. These regulations include authorization criteria (such as minimum capital, fit and proper, and business plan requirements), asset segregation and external custody, professional asset management, external audits and actuarial reviews, extensive information disclosure, and effective supervision. These regulations resemble those applied to banks and insurance companies and are not particularly controversial. But private pension funds in developing countries are often subject to structural and operational controls that are more controversial. Such controls include special authorizations and market segmentation, one account per worker and one fund per company rules, nondiscrimination provisions, regulations on fees and commissions, investment limits, minimum profitability rules, and state guarantees. Vittas discusses the use of such regulations in developing countries that have implemented systemic pension reforms. He draws a distinction between this approach and the more relaxed regulatory regime that relies on the prudent person rule found in more advanced countries. He argues that the draconian regulatory approach can be justified on several grounds, but especially by the compulsory nature of the pension system, the absence of strong and transparent capital markets, and the lack of a long tradition of private pension funds. But the regulations should be progressively relaxed as private pension funds and their affiliated workers gain in experience, sophistication, and maturity. This paper-a product of the Development Research Group-is part of a larger effort in the group to study pension funds and institutional investors.
Author: Igor Guardiancich
Publisher: Routledge
ISBN: 0415688981
Category : Business & Economics
Languages : en
Pages : 322
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Book Description
This book traces and analyzes the legislation and implementation of pension reforms in four Central, Eastern and Southeastern European countries: Croatia, Hungary, Poland and Slovenia. By comparing the political economy of their policymaking processes, it seeks to pinpoint regularities between institutional settings, actor constellations, decision-making strategies and reform. Guardiancich employs a historical institutionalist framework to analyze the policies, actors and institutions that characterized the period between the collapse of socialism and the global financial crisis of 2008-2011. He argues that viable pension reforms should not be seen simply as an event, but rather as a continuing process that must be fiscally, socially and politically sustainable. In particular, the primary goal of a pension scheme is to reduce poverty, provide adequate retirement income and insure against the risks of old age within given fiscal constraints, and this will happen only if the scheme enjoys continuing political support at all levels. To this end the author individuates those institutional characteristics of countries that increase the consistency of reforms and lower the likelihood of policy reversals in time. Pension Reforms in Central, Eastern and Southeastern Europe will be of interest to students and scholars of political science, political economy, social policy and economics.
Author: Elizabeth Ruppert
Publisher: World Bank Publications
ISBN:
Category : Desempleo - Argelia
Languages : en
Pages : 28
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Book Description
Author: Cherian Samuel
Publisher: World Bank Publications
ISBN:
Category : Business enterprises
Languages : en
Pages : 60
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Book Description
Author: Bernard M. Hoekman
Publisher: World Bank Publications
ISBN:
Category : Comercio intraindustrial - Europa
Languages : en
Pages : 36
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Book Description
Author: Cheryl Williamson Gray
Publisher: World Bank Publications
ISBN:
Category : Banking law
Languages : en
Pages : 48
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Book Description
Author:
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 28
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Book Description
Author: Frannie Humplick
Publisher: World Bank Publications
ISBN:
Category : Construccion vial
Languages : en
Pages : 44
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Book Description
