Governance Challenges of the National Pension Fund (in Persian)

Morteza Ghodratipour (), Ali Asghar Pourezat () and Mojtaba Kiaei ()
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Morteza Ghodratipour: Department of Public Administration, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran
Ali Asghar Pourezat: Department of Public Administration, Faculty of Management, Tehran University, Tehran, Iran.
Mojtaba Kiaei: Department of Public Administration, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran.

Management and Development Process Quarterly (٠صلنامه ٠رایند مدیریت و توسعه), 2024, vol. 37, issue 1, 147-174

Abstract: Purpose: This research was intended to examine the governance challenges of the National Pension Fund and to design a periodic performance evaluation system for the Fund. Methodology: The research method was exploratory, and it was practical in terms of purpose. The statistical population consisted of fifteen experts in the field of pension funds. The data were collected using interviews and the model was designed through triple coding grounded theory. The number of experts was determined based on theoretical saturation. Findings: The analysis of the text of the interviews with the experts led to six main categories and thirty concepts. Findings show that the most important challenges of the governance of the National Pension Fund of a country include the following items: the inadequacy of the pension infrastructure, unfavourable work development and uncertainties in the Fund, short span of managerial appointments, fluctuations in the money exchange rate, high replacement rate of the personnel and low support rate, lack of meritocracy in managerial appointments, rarity and even lack of support measures at the community level, and lack of government accountability and obligations to strengthen the Fund. Regarding the political and commercial turbulence in the external environment as well as the need for strategic thinking and quality internal monitoring and supervision, we suggest that planning, support, financial, insurance, managerial, political, human, corrective, supervisory, and retirement strategies be implemented to make periodic evaluation of the Fund's performance possible. Originality/ value: By presenting a comprehensive model including the challenges of the National Pension Fund governance, the causes of such challenges, and the external and internal factors affecting them, this research has achieved strategies to improve the current conditions of the National Pension Fund and the implementation of its periodic performance evaluation system. This outcome not only can be considered as a new step for the improvement of the National Pension Fund performance, but also can function as a milestone for other pension funds. Recommendations: We suggest that the strategies presented in this research be implemented in the National Pension Fund and be modified, if necessary, after the evaluation of their effects. It is also necessary to conduct more research in the field of the performance evaluation of other government funds.

Keywords: National Pension Fund Governance; Governance Challenges; Periodic Performance Evaluation; National Pension Fund Evaluation; National Pension Fund Transparency. (search for similar items in EconPapers)
Date: 2024
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