Handbook of Key Global Financial Markets, Institutions, and Infrastructure

Chapter 47

Pension Funds

G. Impavido

International Monetary Fund, Washington, DC, USA

Outline

Introduction

What Are Pension Plans, Funds, and Firms?

Pension Plans

Pension Funds

Pension Firms

Key Policy Issues with Pension Funds

Implications of Pension Intervention Policies

Pension Fund Governance

Pension Funding

Administrative Costs

Pension Retirement Products and Markets

Pension Fund Supervision

References

Introduction

The lack of standardization of pension arrangements across countries makes it difficult for the researcher to have a quick sense of the importance of pension systems in terms of labor force coverage and/or accumulated assets under management. According to the International Labour Organization, around 90% of the world’s working-age ...