PENSIONS REFORMS

April 3, 2013 7:56 pm /

PENSIONS REFORMS: Although there are negative effects of the pension reforms, which is usually based on transformation from DB to DC, it should be analyzed why reform is needed in the field of pension.
There are four main factors on the need for and the content of the current pension refor... Read More

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Posted in: annuity, Retirement Category / Tagged: Capital Markets, Disability Benefit, Early Retirement, Financial Sustainability, Fiscal Crisis, Globalization Of Markets, Insolvency, Multinationals, National Populations, Pension Reforms, Pension Systems, Pillar, Privatization, Public Pension Plans, Social Approach, Social Partners, Social Security Benefits, Social Security Reforms, Social Sphere, Treasuries

Pension Entity

April 2, 2013 5:18 pm /

Pension Entity is a special-purpose legal entity, such as a trust, foundation, or a corporate entity that owns and may also control the pension fund on behalf of the pension plan/fund members. Plan members may have either a legal or a beneficial ownership right over the pension fund, or a contrac... Read More

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Posted in: annuity, Retirement Category / Tagged: Beneficial Ownership, Best Interest, Canada And The United States, Corporate Entity, Db Plans, Dc Plans, Fiduciaries, Fund Members, Insurance Company, Legal Entity, Legal Forms, Legal Structure, Oecd Countries, Pension Assets, Pension Fund Assets, Pension Plan, Plan Members, Special Purpose Entity, Trust Foundation, Trustee

Financial Instruments

April 1, 2013 6:30 pm /

As pension funds focus more on the duration of assets and liabilities, pension fund managers routinely stress that additional financial instruments are needed to help them better manage and hedge certain risks, such as duration, inflation and longevity risks. These instruments certainly include l... Read More

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Posted in: annuity, Retirement Category / Tagged: Assets And Liabilities, Financial Instruments, Fixed Income Products, Investment Products, Investment Regulations, Investment Restrictions, Investment Risks, Investment Vehicles, Long Term Investment, Long Term Liabilities, Pension Fund Management, Pension Fund Managers, Pension Funds, Pension Investment, Pension Schemes, Product Diversification, Prudent Man Rule, Retirement Investment, Self Confidence, Single Company

Pension Funds

March 31, 2013 10:51 am /

Pension Funds are the pools of assets, including employer’s assets in the case of some occupational plans, that are bought with the contributions to a pension plan or that are assigned by law or contract as pension plan assets.
Autonomous, Non-Autonomous Pension Funds and Insur... Read More

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Posted in: Retirement Category / Tagged: Collective Group, Company Acts, Emplo, Financial Institutions, Financial Reserves, Fund Members, Insurance Products, Legal Claim, Pension Assets, Pension Fund Assets, Pension Funds, Pension Plan Assets, Personal Pension Plans, Personal Plan, Personal Plans, Plan Members, Plan Sponsor, Plan Sponsors, Plansponsor, Single Group

Defined Benefit and Defined Contribution Plans

March 30, 2013 9:42 pm /

Defined Benefit (DB) Plan:
Any pension plan other than a defined contribution plan, including all plans in which the financial or longevity risk are borne by the plan sponsor. Benefits to members are typically based on a formula linked to members’ wages or salaries and... Read More

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Posted in: Retirement Category / Tagged: Balance Sheet, Dc Plan, Defined Benefit, Defined Contribution, Disbursement, Employment Relationship, Investment Return, Longevity, Material Aspects, Pension Benefits, Pension Plan, Pensions, Personal Pension, Personal Plans, Plan Participant, Plan Sponsor, Rate Of Return, Salaries, Sponsor Benefits, Wages

Types of Pension Plans

March 29, 2013 7:57 am /

A legally relevant contract, an agreement as part of a broader contract (e.g. employment contract), or a tax qualified savings or retirement program designed to provide the plan’s beneficiaries with an income after retirement. The plan must therefore have an explicit retirement objective, o... Read More

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Posted in: Retirement Category / Tagged: Age Pension, Employment Contract, Employment Relationship, Formal Sector, General Government, Occupational Pension, Oecd Countries, Pension Benefits, Pension Plan, Personal Pension, Plan Member, Plan Sponsor, Private Pension Plans, Public Pension, Public Sector Workers, Retirement Age, Retirement Program, Social Security Institutions, Social Security Systems, State And Local Governments

Multi-pillar Pension Systems 2

March 28, 2013 7:54 am /

You can read our first article about Multi-pillar Pension Systems before reading this. The second pillar would provide retirement income above the poverty floor up to a level that society feels is necessary so that the elderly will not be a burden does to lack of income. Unlike the public pillar wh... Read More

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Posted in: Retirement Category / Tagged: Capital Markets, Decentralized Control, Financial Institutions, Financial Markets, Formal Sector, Fund Managers, Government Regulation, Incentives, Informal Sector, Investment Returns, Labor Force Participation, Pension Funds, Pension Systems, Personal Accounts, Pillar, Poverty, Private Management, Retirement Income, Shareholders, Supervision, Tax Evasion

Multi-pillar Pension Systems

March 27, 2013 8:41 pm /

Modern pension systems are increasingly based on the rejection of the monopoly of the public, PAYG (Pay-As-You-Go) pension pillar. Most reformed pension systems combine elements of different pension pillars:
- First Pillar: public, PAYG, usually defined-benefit and re-distributive
-... Read More

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Posted in: life insurance, Retirement Category / Tagged: Benefit, Correlation, Defined Benefit, Different Ways, Eggs In One Basket, Elements, Folk Wisdom, Formal Economy, Governments, Insurance Systems, Monopoly, Pension System, Pension Systems, Pillar, Policy Goals, Redistribution, Rejection, Social Insurance, Social Safety, Social Security, Three Pillars

Shifting Towards Private Pension Systems

March 27, 2013 1:59 pm /

Government policy makers presumably base retirement income systems on the relative merits of private pensions and social security. There are important differences between the two:
- Private pensions generally do not cover the entire private-sector workforce, while social security generally ... Read More

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Posted in: annuity, Retirement Category / Tagged: Capital Markets, Development Countries, Eastern Europe, Government Bonds, Government Policy Makers, Income Distribution, Indexation, National Savings, Oecd Organization, Pension Benefit, Pension Benefits, Pension Systems, Private Pension Plans, Private Pensions, Private Sector, Relative Merits, Retirement Benefits, Retirement Income, Social Security, Social Security Benefits

Rise of Pension Systems

March 26, 2013 2:12 pm /

Economic insecurity among the elderly is a universal problem. Many industrialized countries have dealt with this problem by developing retirement income systems likened to a “three-legged stool.” This image refers to the three primary sources of income for the nonworking elderly: government-p... Read More

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Posted in: annuity, Retirement Category / Tagged: Benefit Programs, Communal Responsibility, Economic Insecurity, Fall Of Communism, Freedom Of Choice, Fundamental Force, Government Employers, Market Institutions, National Solidarity, Payroll Tax Rates, Pension Systems, Political Philosophies, Private Pensions, Retirement Benefits, Retirement Income, Roles Of Government, Social Security Benefit, Three Legged Stool, Three Primary Sources, Universal Problem