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Evaluating the financial performance of pension funds /

Countries throughout the world are increasingly relying on individual pension savings accounts to provide income replacement in old age for their citizens. Although these have now been in place for several decades, the metrics for the measurement of their performance has not always meaningful from t...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor Corporativo: World Bank
Otros Autores: Hinz, Richard P.
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : World Bank, ©2010.
Colección:Directions in development (Washington, D.C.). Finance.
Temas:
Acceso en línea:Texto completo

MARC

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245 0 0 |a Evaluating the financial performance of pension funds /  |c Richard Hinz [and others], editors. 
260 |a Washington, D.C. :  |b World Bank,  |c ©2010. 
300 |a 1 online resource (xvi, 279 pages) :  |b illustrations 
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380 |a Bibliography 
490 1 |a Directions in development. Finance 
504 |a Includes bibliographical references and index. 
520 3 |a Countries throughout the world are increasingly relying on individual pension savings accounts to provide income replacement in old age for their citizens. Although these have now been in place for several decades, the metrics for the measurement of their performance has not always meaningful from the perspective the long term objectives of pension funds. The recent financial crisis has highlighted the need to establish meaningful performance measures that consider pension funds in relation to the ability to effectively provide income replacement at retirement age. The book discusses the theoretical basis and a number of implementation issues related to the emerging view that at meaningful evaluation of the investment performance of pension funds requires the design of life-cycle benchmarks against which performance can be evaluated. The composition of these benchmarks would depend on a number of factors, including the presence of other sources of retirement income; the age of individuals; the rate of contributions; the target replacement rate; the expected density of contributions; the type of retirement income in the payout phase, and the risk aversion of policymakers and individuals. This book provides an evaluation of the financial performance of funded pension systems within the standard mean variance framework. It then provides a discussion of the limitations inherent to applying these methods to pension funds and proceeds to review the many other issues that should be addressed in developing more useful and meaningful performance measures through the formulation of pension specific benchmark portfolios. Evaluating the Financial Performance of Pension Funds concludes with commentary and observations about the need for and application of this new approach to performance measurement and the impact of the recent global financial crisis on the pension funds. 
588 0 |a Print version record. 
505 0 |a Evaluating the financial performance of pension funds / Heinz P. Rudolph [and others] -- Investment performance of privately managed pension funds : overview of the available data / Pablo Antolin and Waldo Tapia -- Financial performance of pension funds : an exploratory study / Eduardo Walker and Agusto Iglesias -- Portfolio choice, minimum return guarantees, and competition in defined contribution pension systems / Pablo Castaneda and Heinz P. Rudolph -- Labor market uncertainty and pension system performance / Olivia S. Mitchell and John A. Turner -- Pension funds, life-cycle asset allocation, and performance evaluation / Fabio C. Bagliano, Carolina Fugazza, and Giovanna Nicodano -- Application of advances in financial theory and evidence to pension fund design in developing economies / Luis M. Viceira -- Future directions in measuring the financial performance of pension funds : a roundtable discussion. 
505 0 0 |t Preface and Acknowledgments --  |t Abbreviations --  |g 1.  |t : Evaluating the Financial Performance of Pension Funds --  |g 2.  |t : Investment Performance of Privately Managed Pension Funds: Overview of the Available Data --  |g 3.  |t : Financial Performance of Pension Funds: An Exploratory Study --  |g 4.  |t : Portfolio Choice, Minimum Return Guarantees, and Competition in Defined Contribution Pension Systems --  |g 5.  |t : Labor Market Uncertainty and Pension System Performance --  |g 6.  |t : Pension Funds, Life-Cycle Asset Allocation, and Performance Evaluation. 
505 0 0 |g 7.  |t : Application of Advances in Financial Theory and Evidence to Pension Fund Design in Developing Economies --  |g 8.  |t : Future Directions in Measuring the Financial Performance of Pension Funds: A Roundtable Discussion --  |t Back cover. 
546 |a English. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Pension trusts  |x Evaluation. 
650 0 |a Rate of return  |x Evaluation. 
650 6 |a Taux de rendement  |x Évaluation. 
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650 7 |a Pension trusts  |x Evaluation  |2 fast 
700 1 |a Hinz, Richard P. 
710 2 |a World Bank. 
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830 0 |a Directions in development (Washington, D.C.).  |p Finance. 
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