Supervision of lost pension accounts and unclaimed benefits

Kyoung Gook Park, Dariusz Stańko and Darren McShane

Journal of Financial Regulation and Compliance, 2019, vol. 27, issue 3, 266-279

Abstract: Purpose - The purpose of this paper is to investigate how private pension supervisors in selected jurisdictions monitor and address lost pension accounts and unclaimed pension assets or benefits and draw supervisory implications. Design/methodology/approach - This paper is based on the survey on private pension schemes of selected International Organisation of Pension Supervisors member jurisdictions. Findings - This paper finds that there are differences in severity of the issue of lost pension accounts and unclaimed pension benefits among jurisdictions, and that pension supervisors/regulators differ with regard to awareness of and approaches taken to handle this issue. Some jurisdictions show a well-established systematic approach to deal effectively with the problem of lost pension accounts or unclaimed benefits, while other jurisdictions are yet to recognise and tackle the issue. Originality/value - To the best of the authors’ knowledge, this is the first larger cross-country study on lost pension accounts and unclaimed benefits in private pension schemes. The paper presents international comparison of this issue in 32 different jurisdictions and provides examples of good supervisory or regulatory practices.

Keywords: Consumer protection; Funded pensions; Lost accounts; Pension supervision; Private pensions; Unclaimed benefits (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrcpp:jfrc-03-2018-0045

DOI: 10.1108/JFRC-03-2018-0045

Access Statistics for this article

Journal of Financial Regulation and Compliance is currently edited by Prof John Ashton

More articles in Journal of Financial Regulation and Compliance from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().