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Regulating private pension funds'structure, performance, and investments : cross-country evidence

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  • Srinivas, P.S.
  • Whitehouse, Edward
  • Yermo, Juan

Abstract

Because defined-contribution systems expose pensions to a number of risks, reforming governments have often strictly regulated the pension fund industry's structure, performance, and investments. This paper compares the rules in the new systems of Latin America and Eastern Europe with richer OECD countries. The authors argue that the benefits of competing pension funds and individual choice can only be achieved if regulations are loosened in the medium term.

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Bibliographic Info

Paper provided by The World Bank in its series Social Protection Discussion Papers with number 23302.

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Date of creation: 31 Jul 2000
Date of revision:
Handle: RePEc:wbk:hdnspu:23302

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Keywords: Pensions&Retirement Systems; Non Bank Financial Institutions; Insurance&Risk Mitigation; Banks&Banking Reform; Environmental Economics&Policies;

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References

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Citations

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Cited by:
  1. Diego Jara, 2006. "Modelo de la regulación de las AFP en Colombia y su impacto en el portafolio de los fondos de pensiones," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE.
  2. Dayoub, Mariam & Lasagabaster, Esperanza, 2008. "General trends in competition policy and investment regulation in mandatory defined contribution markets in Latin America," Policy Research Working Paper Series 4720, The World Bank.
  3. Luciano Greco, 2005. "The Optimal Design of Funded Pension Plans: Unbundling Financing and Investment," "Marco Fanno" Working Papers 0003, Dipartimento di Scienze Economiche "Marco Fanno".
  4. Pereda Javier, 2007. "Estimación de la Frontera Eficiente para las AFP en el Perú y el Impacto de los Límites de Inversión: 1995-2004," Working Papers 2007-009, Banco Central de Reserva del Perú.
  5. Castaneda, Pablo, 2006. "Long Term Risk Assessment in a Defined Contribution Pension System," MPRA Paper 3347, University Library of Munich, Germany, revised 30 Apr 2007.
  6. Diego Jara, . "Modelo de la Regulación de las AFP en Colombia y su Impacto en el Portafolio de los Fondos de Pensiones," Borradores de Economia 416, Banco de la Republica de Colombia.
  7. Jorge Roldos, 2007. "Pension Reform and Macroeconomic Stability in Latin America," IMF Working Papers 07/108, International Monetary Fund.
  8. Mosolygó, Zsuzsa, 2010. "A tőkefedezeti rendszer alapkérdéseinek új megközelítése
    [A new approach to the basic issues raised by the PAYE system]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 612-633.

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