Pension fund benefits are crucial for pensioners' welfare and pension fund savings have accumulated to huge amounts, covering a major part of world-wide institutional investments. However, the literature on pension fund economics and finance is rather limited, caused, in part, to limited data availability. This book contributes to this literature and focuses on three important areas. The first is pension fund (in)efficiency, which has a huge impact on final benefits, particularly when annual spoilage accumulates over a lifetime. Scale economies, pension plans complexity and alternative pension saving plans are important issues.
The second area is investment behavior and risk-taking. A key question refers to the allocation of investments over high risk/high return and relatively safe assets. Bikker investigates whether pension funds follow the life-cycle hypothesis: more risk and return for pension funds with young participants. Many pension funds are rather limited in size, which may raise the question how financially sophisticated the pension fund decision makers are: rather professionals or closer to unskilled private persons?
The third field concerns two regulation issues. How do pension fund respond to shocks such as unexpected investment returns or changes in life expectancy? What are the welfare implications to the beneficiary for different methods of securing pension funding: solvency requirements, a pension guarantee fund, or sponsor support?
This groundbreaking book will challenge the way pension fund economics is thought about and practiced.
Автор: Elizabeth J. Shilton Название: Empty Promises: Why Workplace Pension Law Doesn`t Deliver Pensions ISBN: 0773547878 ISBN-13(EAN): 9780773547872 Издательство: Mare Nostrum (Eurospan) Рейтинг: Цена: 33400.00 T Наличие на складе: Невозможна поставка. Описание: Workplace pensions are a vital part of Canada`s retirement income system, but these plans have reached a state of crisis as a result of their low coverage and inadequate, insecure, and unequally distributed benefits. Reviewing pension plans through a legal and historical lens, Empty Promises reveals the paradoxical effects and inevitable failure of a pension system built on the interests of employers rather than employees. Elizabeth Shilton examines the evolution of pension law in Canada from the 1870s to the early twenty-first century, highlighting the foreseeably futile struggle of legislators to create and sustain employees` pension rights without undermining employers` incentives. The current system gives employers considerable discretion and control in pension design and administration. Shilton appeals for a model that is not hostage to business interests. She recommends replacing today`s employer-controlled systems with pensions shaped by the public interest, expanding mandatory broad-based or state-pension systems such as the Canada Pension Plan to generate pensions that respond to the changing workplace and address the needs and interests of retirees. Engaging with the long-running debate on whether Canadians should look to government or to the private sector for retirement income security, Empty Promises is a crucial work concerned with the future of the Canadian retirement system.
Автор: Cms Pensions Team Название: Pensions law handbook ISBN: 1526507471 ISBN-13(EAN): 9781526507471 Издательство: Bloomsbury Academic Рейтинг: Цена: 105600.00 T Наличие на складе: Невозможна поставка. Описание: Provides guidance through the complex web of pensions-related statues, regulations, regulatory guidance and case law, in an accessible style. Includes the following updates: Pension Protection Fund ('PPF') levy calculations and new provisions on compensation payments; changes to the charges and governance provisions, the new DC Code and the pension’s regulator's new campaigns and policies; The General Data Protection Regulation ('GDPR'); Money laundering requirements for trustees; Financial services requirements under EMIR and MIFID II. Includes coverage of the following case law: Employer duties (IBM and BBC v Bradbury); Sex equalisation (Safeway v Newton); Sexual orientation (Walker v Innospec); Trustee powers (BA); Age discrimination (The judges and firefighter cases); Co-habiting partners (Brewster); Limitation for recovering overpayments (Webber); Barnardo’s (pension increases and scheme modification) and Steria (amendment powers). Includes the following legislative changes: Pensions tax relief and tax charges on overseas transfers; The Financial Guidance and Claims Bill; DB White Paper; The master trust authorisation regime from the Pension Schemes Act 2017; Legislation on combating pension scams.
Автор: Blake Название: Modelling Pension Fund Investment Behaviour (Routledge Revivals) ISBN: 1138020737 ISBN-13(EAN): 9781138020733 Издательство: Taylor&Francis Рейтинг: Цена: 46950.00 T Наличие на складе: Есть у поставщика Поставка под заказ. Описание: First published in 1992, this title conducts an in-depth examination of the investment behaviour of pension funds, presenting the first econometric model in this area. Using the well-established framework of modern portfolio theory, David Blake derives a model of optimal portfolio behaviour that explains pension fund asset holdings in terms of the most important macroeconomic and cyclical indicators. He shows how factors such as industry profitability, the balance of payments and the monetary and fiscal policies of the government influence pension fund investments. Broad in scope, this reissue will be of particular value to students and academics with an interest in econometrics, investment analysis and the pension fund industry.
Автор: Blake David Название: Issues in Pension Funding ISBN: 1138023078 ISBN-13(EAN): 9781138023079 Издательство: Taylor&Francis Рейтинг: Цена: 42870.00 T Наличие на складе: Есть у поставщика Поставка под заказ. Описание: First published in 1992, this book explains how pension funds work in order to highlight their impact on the economy as a whole. David Blake explores the different systems in operation at the time of writing, both state run and private sector, and describes policy initiatives such as personal pension schemes. Longer life-expectancy, overseas investment, equal opportunities and short-termism in capital markets are among the issues discussed as David Blake assesses how pension funds typically behave. This is a title of continued relevance, which addresses the questions repeatedly raised within government and wider society.
Автор: Drucker Название: The Pension Fund Revolution ISBN: 1138537365 ISBN-13(EAN): 9781138537361 Издательство: Taylor&Francis Рейтинг: Цена: 148010.00 T Наличие на складе: Есть у поставщика Поставка под заказ. Описание: In The Pension Fund Revolution, originally published nearly two decades ago under the title The Unseen Revolution, Drucker reports that institutional investors, especially pension funds, have become the controlling owners of America`s large companies, the country`s only capitalists
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