An assessment of the pension savings

Об оценке эффективности пенсионных накоплений

Gorlin, Yuriy (Горин, Юрий) ()
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Gorlin, Yuriy (Горин, Юрий): Russian Presidential Academy of National Economy and Public Administration (RANEPA)

Ekonomicheskaya Politika / Economic Policy, 2015, vol. 5, 142—170

Abstract: 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.

Keywords: retirement savings; the yield of pension savings; net present value; internal rate of return; investment income (search for similar items in EconPapers)
JEL-codes: I30 I38 I39 (search for similar items in EconPapers)
Date: 2015
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