scholarly journals A Critical Analysis on Pension Fund Performance: An Assessment in the Perspective of Political Economy of Accounting

2016 ◽  
Vol 11 (2) ◽  
pp. 141
Author(s):  
Gaguk Apriyanto ◽  
Eko Ganis Sukoharsono ◽  
Gugus Irianto ◽  
Erwin Saraswati
Keyword(s):  
Political Economy ◽  
Financial Performance ◽  
Pension Fund ◽  
Pension Funds ◽  
Board Of Trustees ◽  
Case Study Analysis ◽  
Multiple Case ◽  
Distribution Of Power ◽  
Study Sites ◽  
Pension Benefits

<p>This study aims to assess the performance of the Pension Fund based on the perspective of Political Economy of Accounting (PEA). This study is a multiple case study analysis, with three (3) study sites, Pension Fund A, B, and C.</p><p>The results showed that the financial performance of the Pension Fund A is excellent, but the hegemony and domination of the employer and the board of trustees is quite high, resulting in the detriment of the interests of pension fund in the form of delay to raise pension benefits. The financial performance of the Pension Fund B is good, yet hegemony and dominance of the employer and the board of trustees is quite high, resulting in the detriment of the interests of pension fund in the form of a decrease in the value of pension benefits. The financial performance of the Pension Fund C is not good, hegemony and domination of the employer and the board of trustees is high enough, which harms the interests of the pension fund in the form of increased pension benefits and transparency of fund management information. The situation illustrates that hegemony and domination has occurred by employers and administrators in the Pension Fund A, B, and C. The three pension funds have failed to provide justice and prosperity to the retired people.</p>Necessary is regulations to reduce the hegemony and domination of employers and board of trustees of pension funds, so that the distribution of power and wealth is more equitable.

Institution of Banking Pension Provisions: Preconditions, Nature, Competition with Traditional Institutions

2015 ◽  
Vol 2015 (2) ◽  
pp. 27-55
Author(s):  
Yuriy Ezrokh
Keyword(s):  
Financial Institutions ◽  
Pension Fund ◽  
Pension System ◽  
Pension Reform ◽  
Banking System ◽  
Pension Funds ◽  
Econometric Analysis ◽  
Traditional Institutions ◽  
State Pension ◽  
Pension Benefits

The article analyzes the pension reform implemented in Russia in 2013–2014, provides the modeling of possible pensions, determines the efficiency boundaries for the use of insurance and savings-insurance schemes offered by the Pension Fund of Russia. The author examines the activities and effectiveness in managing pension savings and reserves from non-state pension funds, especially the system of voluntary savings insurance. The study identifies the challenges faced by these financial institutions, which constrain the development of the Russian pension system. Drawing on logical and econometric analysis the author identifies the competitive opportunity for banks to participate in the Pension Benefits Act, calculates the proposals’ efficiency for future retirees and the banking system as a whole, determines the contribution of the proposed solutions to enhanced competition and more competitive banking environment.

scholarly journals Evaluation of the Financial Performance of Pension Funds. Empirical Evidence: Kosovo, Albania and North Macedonia

2020 ◽  
Vol 9 (1) ◽  
pp. 161
Author(s):  
Ibish Mazreku ◽  
Fisnik Morina ◽  
Elvis Curraj
Keyword(s):  
Financial Performance ◽  
Return On Investment ◽  
Pension Fund ◽  
Secondary Data ◽  
Fund Performance ◽  
Pension Funds ◽  
Empirical Results ◽  
Asset Value ◽  
Net Assets ◽  
The Relationship

Purpose: This research paper aims to analyze the evaluation of the financial performance of pension funds, to find the relationship between contributions, return on investment and net asset value with pension fund performance. The following research questions have been asked in order to realize the purpose of the research: What are the factors affecting the performance of the pension fund? What is the relationship between pension fund performance and contributions, return on investment, and net asset value? Methodology: For the specification of the econometric model of this study, we rely on secondary data published in official World Bank reports and reports of pension funds in Kosovo, Albania and North Macedonia. To measure the empirical results, these statistical tests are used: standard multiple regression, fixed effects model, random effect model, and Hausman Taylor Regression. Findings: Based on the empirical results, we can conclude that the increase in gross domestic product, return on investment, contributions and net assets have positively influenced the performance of pension funds for the countries included in the study. The other independent variable, the exchange rate, on the basis of econometric estimations, has turned out to be non-significant. Practical implications: The empirical results of this study may recommend that relevant institutions in Kosovo, Albania and North Macedonia undertake reforms towards the creation of efficient pension systems, and these reforms are of crucial importance for pension systems, which have an economic and social character in their function as fund accumulators and benefit distributors for the categories in need. Originality: The study is conducted with secondary data and all the empirical analysis are original based on the authors' calculations through econometric models. Through the results of this study we aim to provide additional empirical evidence on the performance of pension funds in Kosovo, Albania and North Macedonia, recommending that relevant institutions improve the functioning of the pension system, as it is a very important part of a financial system of a country which has an impact on economic growth.  Keywords: financial performance, pension fund, contributions, net assets, return on investment 

scholarly journals Public Pension Fund Structure And Mechanisms: A Case Study Of The Tanzanian Pension Funds System

2017 ◽  
Vol 1 (1) ◽  
pp. 135
Author(s):  
Zubeda Chande Mpinga ◽  
Wim Westerman
Keyword(s):  
Pension Fund ◽  
Good Governance ◽  
Conflicts Of Interest ◽  
Pension Funds ◽  
Board Of Trustees ◽  
Public Pension ◽  
Special Focus ◽  
The Government ◽  
High Standards ◽  
And Performance

Good governance structures have become an issue of public interest, including public pension systems. This study assesses the pension funds governance in Tanzania, with a special focus on board of trustees’ issues. The growing interest referred to, is partly because the quality and performance of the funds trustees determines the income flows to which members are entitled and promised, as well as any shortfalls thereof, that may require interventions. Our findings suggest that board of trustees play an important role for funds governance and hence performance. The pension fund structure and mechanisms in Tanzania uphold high standards. Yet, a major issue is that the board selection seems to be politically motivated and that the government claims most board seats, making conflicts of interest likely to occur repeatedly. 

scholarly journals Performance Appraisal Model for Pension Fund: Before and After the Application of Good Pension Fund Governance in the Perspective of Political Economy of Accounting

2016 ◽  
Vol 8 (5) ◽  
pp. 241
Author(s):  
Achmad Firdiansjah ◽  
Gaguk Apriyanto
Keyword(s):  
Political Economy ◽  
Performance Appraisal ◽  
Financial Services ◽  
Pension Fund ◽  
Evaluation Model ◽  
Wealth Distribution ◽  
Before And After ◽  
Fund Governance ◽  
Distribution Of Power ◽  
Data Collection Technique

This research has long-term objective to reconstruct performance appraisal model for pension fund by taking into account the fairness of distribution of power and wealth of related parties, namely the employers, pension fund trustees, and pension fund participants. The specific objective of this research was to elaborate the factors namely fairness of power and wealth distribution of related parties, namely the employers, pension fund trustees, and pension fund participants before and after the implementation of Good Pension Fund Governance (GPFG). This is a descriptive qualitative research by nature using the theory of critical paradigm of Political Economy of Accounting (PEA). Data collection technique in this study was carried out directly and indirectly on the Pension Fund of Merdeka University Malang, Central Association of Pension Fund Indonesia (ADPI), KOMDA VI East Java and surroundings, as well as the Financial Services Authority (OJK). Sources of data for this research were obtained from informants through observation and interviews in the form of both financial data and also non-financial. Results of this study are to formulate performance appraisal model for pension fund before GPFG where the fairness of power and wealth distribution of the employers, pension fund trustees and pension fund participants, including general management, administration of financial and participation as well as accounting and investments, while the formulation of the evaluation model of pension funds performance after GPFG where fairness of power and wealth distribution of the employers, pension fund trustees and pension fund participants including sixteen guidelines for the application of GPFG.

Schweizer Wald als Geldanlage: Win-win-Strategie für Waldwirtschaft und Pensionskassen? (Essay) | Swiss forest as an investment opportunity: a win-win situation for both the forestry sector and pension funds? (Essay)

2011 ◽  
Vol 162 (2) ◽  
pp. 27-31
Author(s):  
Daniel Häuptli
Keyword(s):  
Value Chain ◽  
Pension Fund ◽  
Pension Funds ◽  
Literature Analysis ◽  
Forest Land ◽  
Investment Opportunity ◽  
Existing Problems ◽  
Monetary Value ◽  
Forestry Sector ◽  
The One

Could there be a win-win situation for both pension funds and the Swiss forestry sector? On the one hand, developments in the forestry sector suggest that the Swiss forest presents a new lucrative investment opportunity. If this is so, then pension funds could be particularly interested, as the low correlation between Swiss forest and other classes of investment, and the long investment periods involved are ideal for pension fund portfolios. On the other hand, large investments made by pension funds could mean that existing problems in Swiss forestry, in connection with its fragmented nature, could be more rapidly solved, and the potential for rationalization in the wood value chain could be fully realized. This would in turn make investments in the forest even more profitable. This hypothesis was investigated through a comprehensive literature analysis, yield calculations for private forestry enterprises of over 50 ha made by the Swiss Federal Office for Statistics 2004–2008, and an interview with the investments director of a large Swiss pension fund. Despite the optimistic assumption that the greater efficiency gained by the investment of pension funds into the forestry sector could lead to costs lower by 50% and a 20% increase in profits, the hypothesis must be rejected, because a calculated annual return of only 0.82% is too low for pension funds. The conclusion is that the price for forest land is high, and forest owners are not only interested in the monetary value of holding forest. Other immaterial values influence prices. It is suggested that a greater emphasis on socioscientific studies concerning the link between the price of forest land and the motivation to buy and sell forest could lead to some important findings.

The impact of adaptability on the competitiveness of non-State pension funds

2021 ◽  
Vol 27 (11) ◽  
pp. 2606-2636
Author(s):  
Ekaterina S. YAROVAYA
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
High Variability ◽  
Current Time ◽  
Factors Affecting ◽  
Existing Problems ◽  
State Pension ◽  
The Impact ◽  
State Pension Funds

Subject. This article deals with the analysis of competitiveness, which is an important component of the strategic management of a non-State pension fund. Objectives. The article aims to study the existing approaches to the analysis of competitiveness, determine the role of the indicator of adaptability of competitiveness of non-State pension funds in conditions of high variability of the external environment, and formulate recommendations for drawing up criteria for the enterprise competitiveness taking into account the specifics of the activities of the funds. Methods. For the study, I used analysis, and the systems, and structural and functional approaches. Results. The article defines and classifies the factors affecting the competitiveness of non-State pension funds in modern market conditions. It substantiates the influence of the indicator of adaptability on the competitiveness of non-State pension funds. The article also proposes an approach to ranking this indicator, which can be applied regardless of the chosen method for assessing the competitiveness of non-State pension funds. Conclusions. The article concludes that the testing of the assessment of the non-State pension fund competitiveness using the author-proposed adaptability indicator helps determine the level of non-State pension fund competitiveness at the current time, track the changes, and identify the existing problems, the causes of their occurrence, and thereby ensure the conditions under which the non-State pension fund has the opportunity to promptly respond and adapt to external changes thus ensuring its stability in the market.

Environmentally friendly and socially responsible investment in and by occupational pension funds in the USA and in the EU

2021 ◽  
pp. 138826272110269
Author(s):  
Lauren Daniels ◽  
Yves Stevens ◽  
David Pratt
Keyword(s):  
Financial Performance ◽  
Investment Decision ◽  
Pension Funds ◽  
Socially Responsible Investment ◽  
Occupational Pension ◽  
Socially Responsible ◽  
Responsible Investment ◽  
Occupational Pensions ◽  
The Usa ◽  
The Eu

Worldwide pension funds, in their capacity as large institutional investors, are under increasing pressure to take social and environmental considerations into account in their investment decision-making process. The concepts Socially Responsible Investment (SRI) and Environmental Social Governance (ESG) are indeed ubiquitous in the current investment and pension community. This article aims to provide some insight into the conceptual relationship between SRI and ESG and its legal implications for the investment behaviour of private pension funds in the USA and the EU. Hence, the first part of the article gives some background to the distinct concepts of SRI and ESG. This leads to the finding that SRI goes one step further than ESG by prioritising moral or ethical considerations that may not be material to an investment’s financial performance, whereas ESG functions as a guideline to enhance financial performance. The second part analyses the legal possibilities and constraints for responsible investment in American occupational pensions and the third part does the same for European occupational pensions. The article concludes with a summary and comparative overview of the American and European lessons.

Long-Term Rates of Interest in the Valuation of a Pension Fund

1976 ◽  
Vol 21 (03) ◽  
pp. 286-340 ◽  
Author(s):  
C. D. Daykin
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Insurance Companies ◽  
Common Misconception ◽  
The Future

1. It seems to be a common misconception outside the actuarial profession that those within that illustrious body are mysteriously able to peer into their crystal balls and come up with prophetic answers about the future progress of pension funds, insurance companies and other allied matters. The appearance of an actuarial report with its air of finality and disclosure of a definite surplus, deficiency, bonus declaration or whatever it may be, only endorses the impression that the actuary is reporting on the unique and unquestionable answer to the problem in hand.

Sign in / Sign up

Export Citation Format

Share Document