Pension Reserve Funds: Aligning Form and Function
9 Pages Posted: 1 Oct 2011
Date Written: September 21, 2011
Abstract
In an era of population aging and increasing fiscal pressures on nation-states, pension reserve funds (PRFs) have been mooted as effective investment vehicles for realizing future liabilities and achieving some balance between generations. However, concerns have been raised about the potential negative impacts of politicizing PRFs. This article considers the design, governance, and management of PRFs with respect to holding partisan politics and bureaucratic encroachment at bay, and suggests a set of principles and policies that the authors believe are essential to functional PRF performance. Inspiration is drawn from previous research on pension fund governance and detailed case studies of four leading PRF exemplars.
Keywords: Encroachment, Governance, Investment Management, Partisan Politics, Pension Fund
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
The Design of Financial Systems: Towards a Synthesis of Function and Structure
By Zvi Bodie and Robert C. Merton
-
The Design of Financial Systems: Towards a Synthesis of Function and Structure
By Zvi Bodie and Robert C. Merton
-
Group Judgments: Deliberation, Statistical Means, and Information Markets
-
Group Judgments: Deliberation, Statistical Means, and Information Markets
-
The Knot of Contracts: The Corporate Geography of Legacy Costs
By Ashby Monk
-
Recasting the Sovereign Wealth Fund Debate: Trust, Legitimacy, and Governance
By Ashby Monk
-
The Pension Governance Deficit: Still with Us
By Ronald Capelle, Hubert Lum, ...
-
Making Pension Boards Work: The Critical Role of Leadership
By Gordon L. Clark and Roger Urwin
-
Innovative Models of Pension Fund Governance in the Context of the Global Financial Crisis
By Gordon L. Clark and Roger Urwin