scholarly journals Towards “Green” Trusteeship: new statutory amendments for occupational pension trustees

2019 ◽  
Author(s):  
Lloyd Brown
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Environmental Risks ◽  
Occupational Pension ◽  
General Duty ◽  
Social Governance ◽  
Pension Schemes ◽  
Regulatory Landscape

Abstract This article looks at the amendments to occupational pension schemes that are brought in by the Pension Protection Fund (Pensionable Service) and the Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations 2018. It is respectfully submitted that the named regulations are legally compelling because they amend the regulatory landscape in a manner to enforce greater consideration of Environmental Social Governance risks by UK pension funds. In particular, this article engages with how the amendments are going to increase the pension fund trustees’ appetite to consider environmental risks (including climate-related risks) when exercising their general duty of investment.

scholarly journals Pension and retirement intentions as determinants of employee engagement and productivity

2021 ◽  
pp. 1601-1606
Author(s):  
Nur Hasan Kurniawan ◽  
Mahmuddin Yasin ◽  
Hamidah Hamidah
Keyword(s):  
Employee Engagement ◽  
Human Resource ◽  
Financial Management ◽  
Pension Fund ◽  
Sampling Technique ◽  
Pension Funds ◽  
Pension Scheme ◽  
Research Approach ◽  
Occupational Pension ◽  
Retirement Intentions

The issue of pension funds is not only a financial matter, but also a human resource. Pension funds do not stand alone, but are assumed to be related to other human resource (HR) variables. Starting from this background, this study aims to examine the effect of the occupational pension scheme (OPS) and retirement intentions (RI) variables partially on employee productivity (EP) directly or through employee engagement (EE), the effect of OPS on RI, and the effect of OPS on EP through RI. Post-positivist is the research paradigm, with a quantitative research approach, with explanatory causal types and statistical studies. Dapenma-Pamsi is selected as the location of this research and we choose the Joint Pension Fund of municipal waterwork which are located in six provinces in Java Island. The sampling technique for this study was proportionate stratified random sampling, with a total sample of 500 active Dapenma-Pamsi participants in six provinces in Java. The research instrument was a questionnaire with a Likert scale of 1-7. The data analysis technique used SEM-AMOS. The results of the study are supported by ten research hypotheses. The novelty of this research is the integration of variables rooted in the discipline of financial management and variables from the discipline of human resource management. This research is also could help Indonesia Government foster the growth of Private Pension Fund Program in Indonesia.

Evaluating the impact on saving of tax-favored retirement plans

2013 ◽  
Vol 13 (1) ◽  
pp. 62-87 ◽  
Author(s):  
MONICA PAIELLA ◽  
ANDREA TISENO
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Retirement Plans ◽  
Household Saving ◽  
Pension Schemes ◽  
The Social ◽  
Recent Reform ◽  
The Impact ◽  
Retirement Wealth

AbstractThis paper exploits a recent reform of private pension schemes in Italy to identify the impact on household saving of tax-favored retirement saving plans. The reform was part of the restructuring of the social security system and was aimed at rising private long-term saving by making pension funds more attractive and convenient. We control for unobserved saver heterogeneity and a central focus is on substitution across saving instruments. We find that the pension fund legislation had a strong effect on the allocation of saving and triggered substantial substitution of non-tax-favored non-retirement wealth for tax-favored pension funds. In contrast, we find that it had little, if any effect on household saving flows. Our findings also suggest that the provision of ‘closed’ pension funds might significantly affect the decision to invest in private retirement schemes.

scholarly journals Default bias or no default bias? evidence from decisions regarding occupational pension fund enrollment in Italy

2013 ◽  
Vol 2 (3) ◽  
pp. 117-127
Author(s):  
Andrea Lippi
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Status Quo ◽  
Occupational Pension ◽  
Default Option ◽  
Factors Influencing ◽  
The Status

If forced to choose a supplementary pension fund, people will decide not to decide, accepting decisions made for them by others (default bias), reaching a status quo position. This study analyses whether the status quo position achieved via the default option in Italian occupational pension funds is later changed over the period studied (2007-2011), and the factors influencing any change.

Determinants of Pension Fund Efficiency in Kenya: An Exploratory Study

2012 ◽  
Vol 11 (1-2) ◽  
pp. 182-218
Author(s):  
Amos G. Njuguna ◽  
Cecil Arnolds
Keyword(s):  
Exploratory Study ◽  
Pension Fund ◽  
Important Determinant ◽  
Pension Funds ◽  
Financial Efficiency ◽  
Retirement Benefits ◽  
Pension Schemes ◽  
Governance Practices ◽  
Pension Governance ◽  
Fund Size

Abstract This paper investigates the determinants of the operational and financial efficiency of pension funds in Kenya. A sample of 362 pension schemes was drawn from the Kenyan Retirement Benefits Authority (RBA) register. The empirical results show that pension governance, leadership and regulations do not significantly influence the operational and financial efficiency of pension funds. The results do however reveal that pension regulations influence the leadership and governance practices of the pension schemes. Moreover, the schemes with more middle-aged members (31-40 years) are perceived to be better governed. Lastly, the results reveal fund size to be an important determinant of the financial efficiency of the pension funds.

Some Experiments with the Emerging Costs of a Hypothetical Pension Fund

1973 ◽  
Vol 20 (03) ◽  
pp. 143-171
Author(s):  
D. H. Loades
Keyword(s):  
Computer Model ◽  
Pension Fund ◽  
Early Stage ◽  
Pension Funds ◽  
Stage Of Development ◽  
Pension Schemes ◽  
Best Estimate ◽  
The Moment ◽  
Selection Of

1.1. In text-books concerned with the study of pension funds the space devoted to the calculation of emerging costs is usually small and this is probably in keeping with the number of occasions when such estimates are necessary.If, however, it is accepted that the purpose is to produce the best estimate of the emerging costs, the calculations become interesting and consideration of the appropriate bases provides a useful background to the selection of a suitable basis for valuing the capital liabilities of the fund.1.2. This paper develops some ideas generated while preparing detailed estimates of the emerging costs of several immature pension schemes with high rates of turnover of staff. A computer model is described which at the moment is in the early stage of development. Having outlined the pattern of costs derived from the model, the paper considers the effects of simplifying the original assumptions and in particular compares the results of using a traditional valuation basis.

scholarly journals Trustees and pension schemes in Ireland

2014 ◽  
Vol 22 (1) ◽  
pp. 2-14 ◽  
Author(s):  
Jim Stewart ◽  
Bridget McNally
Keyword(s):  
Pension Fund ◽  
Good Governance ◽  
Secondary Data ◽  
Pension Scheme ◽  
Occupational Pension ◽  
Content Type ◽  
Pension Schemes ◽  
Pension Governance ◽  
And Performance ◽  
Practical Implications

Purpose – This article aims to highlight the gap between the legal responsibilities and the practice of pension fund trustees in Ireland. Design/methodology/approach – The paper relies on primary and secondary data analysis of trustee practice and enforcement cases to highlight the gap between law and practice. Findings – The article finds that there is an inconsistency between legal requirement and practice in the calibre of trustee and trustee training across Irish occupational pension schemes. This has adverse consequences for pension governance and performance. Practical implications – The findings raise the question as to whether there should be mandatory qualifications for trustees or mandatory standardised trustee training in a prescribed format, with which trustees should comply. It also questions whether there should be a governance code for trustees to ensure a minimum standard or target level of competence and good governance on the part of pension scheme trustees. Originality/value – There is a distinct lack of emphasis in the literature and in practice on the inconsistency between the extent of the responsibilities which trustees ultimately carry, and the legal exposure this potentially creates for trustees who unduly rely on other trustees or third parties in the trustee decision making process.

Occupational pension funds

2017 ◽  
Vol 19 (2) ◽  
pp. 158-171 ◽  
Author(s):  
Alexia Autenne
Keyword(s):  
Private Sector ◽  
Pension Fund ◽  
Pension Funds ◽  
Pension Plans ◽  
Occupational Pension ◽  
Defined Contribution ◽  
European Regulation ◽  
International Context ◽  
European Regulations ◽  
Fund Governance

This article reviews the orientation of the European regulation on pension fund governance in the international context of the OECD’s recommendations. It outlines the features judged to be essential for a sound private pension scheme’s governance. It then describes the orientation of the European regulations in this area and sets out some criticisms. The focus is on private sector ‘defined-contribution’ occupational pension plans managed by a pension fund, in light of the shared perception that the ‘governance’ issue is particularly sensitive for these types of schemes.

scholarly journals Does the Asset Manager’s Nationality Influence the Occupational Pension Fund Performance?

2016 ◽  
Vol 6 (2) ◽  
pp. 176
Author(s):  
Andrea Lippi
Keyword(s):  
Pension Fund ◽  
Fund Performance ◽  
Pension Funds ◽  
Risk Level ◽  
Occupational Pension ◽  
Management Skills ◽  
Professional Managers ◽  
Analysis Methodology ◽  
The Relationship ◽  
Asset Managers

This paper examines the relationship between asset managers’ nationality and the Italian occupational pension funds extending the existing literature on the topic. We use a double analysis methodology, targeted at single- and multiple-managers, distinguishing between Italian and/or foreign professional managers. The results obtained show how asset manager’s nationality impacts differently on managed pension funds’ performance according to the different investment line risk level, opening debate on asset managers’ management skills.

scholarly journals Opportunities and Challenges in Developing Islamic Pension Funds in Indonesia

ETIKONOMI ◽  
2020 ◽  
Vol 19 (2) ◽  
Author(s):  
Rahmatina Awaliyah Kasri ◽  
Banu Muhammad Haidlir ◽  
Muhammad Budi Prasetyo ◽  
Tika Arundina Aswin ◽  
Fenny Rosmanita
Keyword(s):  
Qualitative Research ◽  
Human Resources ◽  
Research Method ◽  
Pension Fund ◽  
Rapid Development ◽  
Pension Funds ◽  
The Other ◽  
Focus Group Discussions ◽  
Group Discussions ◽  
Pension Schemes

Despite the rapid development of the Islamic financial sector in Indonesia, the development of Islamic pension funds is way behind those of the other Islamic financial sectors. This study aims to explore the opportunities and challenges faced by Indonesian Islamic pension funds. Utilizing a qualitative research method, the study conducted Focus Group Discussions with 23 large pension funds spread across five big cities in Indonesia. It was revealed that opportunities and prospects for developing Islamic pension funds in Indonesia are relatively good. However, various internal and external challenges were found, such as a lack of knowledge; the weak commitment of founders; lack of quality human resources; relatively unfavorable tax treatment; limited investment instruments; competition with government pension schemes; and public literacy problems.  Therefore, two broad strategies are recommended to develop the Islamic funds, namely the provision of direct/indirect incentives to market players, and literacy programmes to targeted/priority groups. These strategies are expected to encourage and accelerate the growth of Indonesia's Islamic pension fund industry in the future.JEL Classification: H55, H75, J32How to Cite:Kasri, R. A., Haidlir, B. H., Prasetyo, M. B., Aswin, T. A., Rosmanita, F. (2020). Probability of Paying Zakat from Micro Financing Project Return. Etikonomi: Jurnal Ekonomi, 19(2), xx – xx. https://doi.org/10.15408/etk.v19i2.16284.

Pensions as property

Legal Studies ◽  
1994 ◽  
Vol 14 (3) ◽  
pp. 345-363
Author(s):  
Richard Nobles
Keyword(s):  
Pension Funds ◽  
Overwhelming Majority ◽  
Occupational Pension ◽  
Defined Benefit ◽  
Pension Schemes ◽  
The Law ◽  
Trust Law ◽  
To Receive ◽  
Meaningful Sense

The overwhelming majority of employees who are members of occupational pension schemes belong to what are called ‘defined benefit’ schemes. These schemes provide for their members to receive a benefit defined by reference to a member’s salary at the date of their retirement or, if they change jobs, the salary paid just prior to their leaving. This article examines the rights of the members of defined benefit schemes. In particular, it considers claims by scheme members that the pension funds which secure their pensions represent their deferred pay, and that these funds are, in some meaningful sense, their property. The article argues that whilst the law of trusts may appear at first sight to lend support to the members’ claims, developments within the law of trusts, coupled with the underlying contradiction in the meaning of ownership in trust law, has made it difficult for the courts to recognise the members’ claims.

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