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This note was prepared for the Eurofi/G20 high-level seminar on the benefits and challenges of a long term perspective in financial activities, held in Paris on 17-18 February 2011. The note outlines the benefits of long-term investing to growth, sustainable development and financial stability, and the barriers which may be preventing institutional investors from acting over extended time frames.
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This paper provides a detailed chronological account of the governance-cum-management reform of National Pension Fund in Korea and analyzes its success factors, drawing lessons for other countries. A review of the current governance structures with the fund versus OECD guidelines and international good practice is also provided, along with suggestions for further reform.
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The OECD/IOPS Good Practices for Pension Funds’ Risk Management Systems aim to outline the main features of risk management systems which pension funds employ. They cover the role of management in the risk management process, look in more detail at investment risk, funding risk and operational risk (including outsourcing) control, and the risk management mechanisms which might be in place (including monitoring and reporting). The
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This paper suggests avenues for strengthening the governance and management of the Japanese Government Pension Investment Fund (GPIF), the largest single pool of pension assets in the world.
This Toolkit assists pension supervisors to identify potential risks faced by pension plans or funds and assess the financial and operational factors in place to minimise and mitigate those risks.
The forum brought together leading researchers, pension funds, endowments and sovereign wealth funds from across Europe, Asia and the Americas to discuss the latest advances in investment, asset allocation and risk management.
Some countries are reconsidering their approach to the provision of sustainable and adequate pensions. OECD experts have reiterated several key recommendations that should be taken into account during this process.
In this interview, Prof Zheng, a renowned Chinese expert on pensions, discusses the necessary reforms – in particular tax reforms – that are needed in order to further develop private pensions in China. The enterprise annuity system, as the private pension system in China is called, should become a key part of the retirement income system, but there are some obstacles that needs to be addressed first.
The 2010 Global Forum focused on innovative governmental policies intended to enhance the security and adequacy of defined contribution (DC) retirement plans and pension reform processes and recent developments in Asia-Pacific.
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Protecting retirement income derived from DC pension plans requires carefully designed default investment strategies. This article assesses the relative performance of different investment strategies for different structures of the payout phase, focusing on life-cycle strategies.