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An assessment of the pension savings


  • Gorlin, Yuriy

    () (Russian Presidential Academy of National Economy and Public Administration (RANEPA))


Article is devoted to assessing the effectiveness of pension funds (SPN). Generally considered a posteriori estimation of efficiency, that is performance evaluation for the previous period. Given the fact that in practice, the effectiveness of investment SPN is identified with various modifications profitability ratios, the analysis is mainly carried out in relation to this private performance indicators. The main objectives of the article: Analysis of regulatory and implement approaches for assessing the effectiveness of SPN; defining the purpose of assessing effectiveness; subjects, from the standpoint that evaluate effectiveness; The evaluation period; use of indicators and assessment methods, as well as their application. Due to the fact that investing SPN is a special case of financial investments, the article as a methodological framework is proposed to use the classic criteria and methods of the theory of investment analysis. The article shows that the assessment of the effectiveness of SPN, reflecting the interests of insured persons should be based on the net asset value, which invested in the SPN, after deduction of these administrative costs SPN.

Suggested Citation

  • Gorlin, Yuriy, 2015. "An assessment of the pension savings," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 142-170.
  • Handle: RePEc:rnp:ecopol:ep1552

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    References listed on IDEAS

    1. Green, Edward J & Porter, Robert H, 1984. "Noncooperative Collusion under Imperfect Price Information," Econometrica, Econometric Society, vol. 52(1), pages 87-100, January.
    2. Severin Boreinstein & Andrea Shepard, 1996. "Dynamic Pricing in Retail Gasoline Markets," RAND Journal of Economics, The RAND Corporation, vol. 27(3), pages 429-451, Autumn.
    3. Robert H. Porter, 1983. "A Study of Cartel Stability: The Joint Executive Committee, 1880-1886," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 301-314, Autumn.
    4. Slade, Margaret E, 1987. "Interfirm Rivalry in a Repeated Game: An Empirical Test of Tacit Collusion," Journal of Industrial Economics, Wiley Blackwell, vol. 35(4), pages 499-516, June.
    5. Glenn Ellison, 1994. "Theories of Cartel Stability and the Joint Executive Committee," RAND Journal of Economics, The RAND Corporation, vol. 25(1), pages 37-57, Spring.
    6. Andrew Eckert, 2013. "Empirical Studies Of Gasoline Retailing: A Guide To The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 27(1), pages 140-166, February.
    7. S. Avdasheva., 2011. "Illegality of Tacit Collusion in Russian Antitrust Legislation: Could Economists Be Useful to Generate Legal Rules?," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
    8. Slade, Margaret E, 1998. "Strategic Motives for Vertical Separation: Evidence from Retail Gasoline Markets," Journal of Law, Economics, and Organization, Oxford University Press, vol. 14(1), pages 84-113, April.
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    More about this item


    retirement savings; the yield of pension savings; net present value; internal rate of return; investment income;

    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other


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