scholarly journals Assessing the Government Proposal for Corporate Pension Fund Governance and Drawing out its Improvements

2017 ◽  
Vol 28 (4) ◽  
pp. 129-156 ◽  
Author(s):  
손성동 ◽  
Joo-Ho Sung ◽  
Bongjooo Lee
Keyword(s):  
Pension Fund ◽  
Corporate Pension ◽  
The Government ◽  
Fund Governance

scholarly journals FINANCIAL STABILITY OF THE SOLIDARITY PENSION SYSTEM IN UKRAINE

2019 ◽  
pp. 471-480
Author(s):  
О. Сhebereyako ◽  
◽  
V.. Bykova
Keyword(s):  
Financial Stability ◽  
Social Insurance ◽  
Pension Fund ◽  
Pension System ◽  
The Elderly ◽  
Government Budget ◽  
The Public ◽  
Revenue Collection ◽  
Accumulation System ◽  
The Government

The article is devoted to actual issues of public finance – old-age income support and social security in the twenty-first century. For this reason, government has tried to guarantee old-age’s pension eligibility. In our country pension system is presented with three-level pension system, which join mandatory and voluntary components – solidary system (first level), compulsory accumulation system (not exist now) and private pension system. According to Ukrainian’s pension model, basic and minimum pensions are funded by solidary system or PAYG (“Pay-As-You-Go”) system. As the results, maintains of sufficient financial resources of Pension fund’s budget is very important for financial stability of pension system. The authors show the relationship between sufficient financial support for the elderly in Ukraine and the financial capacity of the solidarity pension system. It was found that in order to form a financially stability pension system, it is necessary to ensure a sufficient amount of own pension fund revenues and avoiding deficit of the Pension Fund’s budget. So, the main indicators of current PAYG system in Ukraine include the public pension expenditures and deficit of the Pension Fund. The article presents dynamics of revenues to the Pension Fund of Ukraine and structure of own pension fund revenues and allocations from the government budged. According to author’s research, the main source of revenue collection of the Pension fund’s budget in Ukraine is the budget’s transfers. О. Чеберяко, В. Бикова ISSN 2078-5860 ФОРМУВАННЯ РИНКОВОЇ ЕКОНОМІКИ В УКРАЇНІ. 2019. Вип. 41 480 The budget expenditures in the structure of income of the pension fund are also analyzed. The total amount of the government budget expenditures that are directed to financing the pension fund are about twenty percent. In our opinion, the key reasons of the “lack of own income” are the shadowing of the economy, the macroeconomic situation, the low minimum wage, the existence of a limit on the maximum amount of wages, which accrues percent of social contribution. As a conclusion, the authors suggest measures for solving the issue of “lack of own income” of the Pension Fund of Ukraine – rising the retirement age, labor market’s reforming, increasing insurance fees and implement compulsory accumulation system. The analytical materials and conclusions can be useful for following researches of finding solutions for achieving the financial stable Pay-You-Go system. Key words: pension system, The Pension fund, social insurance payments, deficit of The Pension fund, government budget.

Pension Fund Governance

2008 ◽  
Author(s):  
John Evans ◽  
Michael Orszag ◽  
John Piggott
Keyword(s):  
Pension Fund ◽  
Fund Governance

Insurer of Last Resort: Singapore’s Government Investment Corporation

2013 ◽  
Author(s):  
Gordon L. Clark ◽  
Adam D. Dixon ◽  
Ashby H. B. Monk
Keyword(s):  
Financial Crisis ◽  
Financial Stability ◽  
Best Practice ◽  
East Asian ◽  
Political Elite ◽  
Government Investment ◽  
Sovereign Wealth Funds ◽  
Nation States ◽  
The Government ◽  
Fund Governance

During the financial crisis, a number of East Asian sovereign wealth funds (SWFs) acted as insurers of last resort for their nation-states, underwriting financial stability and social welfare. This chapter explains how and why this role came to pass, arguing that it serves to sustain the legitimacy of the nation-state as well as justify the separation of SWF assets from the public interest in current consumption and spending. Focusing on the Government of Singapore Investment Corporation (GIC), it suggests that the prospect of recurrent financial crises was an important prompt for its establishment in 1981, reinforced by the experience of many East Asian countries in the 1997 Asian financial crisis. The chapter explains the formal constitution of the GIC, the mechanisms by which its reserves are returned to the government in crisis, and the role of different sections of the political elite in managing those assets. Referencing the principles of best-practice fund governance and the Santiago Principles underwriting the legitimacy of SWFs, it also considers the governance of the GIC, especially in regard to its investment processes.

South Africa’s PIC faces major overhaul

2019 ◽  
Keyword(s):  
Pension Fund ◽  
Economic Empowerment ◽  
Economic Policies ◽  
Government Employees ◽  
Major Overhaul ◽  
Content Type ◽  
Black Economic ◽  
Black Economic Empowerment ◽  
The Government

Significance The PIC oversees approximately 142 billion dollars, mostly on behalf of the Government Employees Pension Fund (GEPF). While the GEPF’s assets are still comfortably greater than its liabilities, its surplus has been falling in recent years, with several questionable investments coming to light. Impacts Inquiry revelations could weaken support for government economic policies, such as prescribed assets, from traditional allies. The GEPF’s push to invest more funds overseas could have major implications for how much money the PIC manages and its future investments. The Commission's major long-term impacts could include a serious rethink of the ANC's black economic empowerment (BEE) economic policies.

China will drag feet on urgent pension reform

2019 ◽  
Keyword(s):  
Social Sciences ◽  
Pension Fund ◽  
Pension Reform ◽  
Pension Funds ◽  
The Self ◽  
Content Type ◽  
Younger Workers ◽  
Urban Worker ◽  
The Government ◽  
New Research

Subject Pension reform in China. Significance China's main pension fund could be completely depleted as early as 2035. New research published by the Chinese Academy of Social Sciences (CASS) predicts that expenditure from the urban worker basic pension fund will begin exceeding contributions in 2028, after which reserves will decline exponentially and could be exhausted within eight years. The government has already introduced measures to address the most pressing problems, such as the gross imbalance between regional pension funds and the failure of employers to contribute to the scheme. Impacts Younger workers will rely on their own savings and investment schemes, having little faith in the government pension. Rural residents, the self-employed and precariously employed have little or no meaningful state-backed pension. International insurers will eventually be allowed to enter China's private pension sector.

Three Steps to Heaven? Tensions in the Management of Welfare: Retirement Pensions and Active Consumers

2005 ◽  
Vol 35 (1) ◽  
pp. 77-96 ◽  
Author(s):  
KIRK MANN
Keyword(s):  
Risk Assessment ◽  
Welfare Reform ◽  
Portfolio Management ◽  
Pension Fund ◽  
Fund Management ◽  
Citizenship Rights ◽  
Lifestyle Choice ◽  
Pension Fund Management ◽  
Working Practices ◽  
The Government

This article explores some of the emerging tensions in the management of welfare in Britain. The success of Labour's proposals for welfare reform, particularly retirement pensions, hinges on their ability to promote the idea of the consumer citizen and to undermine traditional ideas of citizenship rights. However, managing this transition – including the presentation of ideas and the management of consumers – has not been straightforward. While the Government presents retirement as a matter of lifestyle choice, welfare ‘consumers’ are demanding more of their providers and are regularly disgruntled with the response.Simultaneously, pension providers are expressing reservations about their ability to manage aggrieved consumers. Furthermore, they believe pension fund management has been politicised, and their scope for discretion reduced by regulation, while technical and scientific developments in terms of portfolio management and risk assessment have changed the working practices of those in the pension industry. These tensions between consumers, providers and legislators may generate further dissatisfaction with the balance of rights and responsibilities being hotly contested.

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