Managing public pension reserves Part II: lessons from five recent OECD initiatives

Robert Palacios ()

No 33407, Social Protection Discussion Papers and Notes from The World Bank

Abstract: A large number of public pension schemes around the world have accumulated significant reserves. Pre-funding might reduce the risk that future governments will not be able to meet pension obligations. The management of these funds therefore, has a direct effect on financial sustainability and potential benefit levels. It also has important indirect effects on the overall economy, especially when the funds are large relative to domestic capital markets. In the past, most public pension funds have not been invested effectively, largely because of political interference. This paper reviews strategies for limiting risks that arise when a public entity is entrusted with managing national pension savings. In particular, an attempt is made to draw lessons from recent reforms in five OECD countries (Canada, Ireland, Japan, New Zealand, and Sweden).

Keywords: Environmental Economics&Policies; Financial Intermediation; Banks&Banking Reform; Economic Theory&Research; ICT Policy and Strategies (search for similar items in EconPapers)
Date: 2002-07-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:wbk:hdnspu:33407

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