Pension Fund Governance: Challenges and Potential Solutions
Good governance is increasingly recognized as an important aspect of an efficient private pension system, enhancing investment performance and benefit security. Yet, despite regulatory and industry initiatives, governance weaknesses persist across OECD and non-OECD countries. This paper highlights t...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2008
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| Schriftenreihe: | OECD Working Papers on Insurance and Private Pensions
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| Schlagworte: | |
| Online-Zugang: | UBA01 UBG01 UEI01 UER01 UPA01 UBR01 UBW01 FFW01 FNU01 EUV01 FRO01 FHR01 FHN01 TUM01 FHI01 UBM01 Volltext |
| Zusammenfassung: | Good governance is increasingly recognized as an important aspect of an efficient private pension system, enhancing investment performance and benefit security. Yet, despite regulatory and industry initiatives, governance weaknesses persist across OECD and non-OECD countries. This paper highlights the main governance challenges faced by policymakers (particularly with trust-based pension systems), and draws on recent policy initiatives to propose possible solutions to strengthen governance arrangements. The paper suggests that some of the more serious cases of governance failures could be solved through a more balanced representation of stakeholders in the governing body, higher levels of expertise (which may be achieved via training or the use of independent trustees) and the implementation of codes of conduct addressing conflicts of interest. The absence of governance arrangements for defined contribution style pension plans also needs to be addressed, potentially via management committees, increased fiduciary responsibility for relevant parties or via a strengthened role for pension supervisory authorities. Consolidation of the pension industry in some countries may also be required to achieve economies of scale and reduce costs, which in turn would allow pension funds to dedicate more resources to strengthening their internal governance |
| Beschreibung: | 1 Online-Ressource (36 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/241402256531 |
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Datensatz im Suchindex
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| spelling | Stewart, Fiona Verfasser aut Pension Fund Governance Challenges and Potential Solutions Fiona Stewart and Juan Yermo = La gouvernance des fonds de pension : défis à relever et solutions envisageables / Fiona Stewart et Juan Yermo La gouvernance des fonds de pension Paris OECD Publishing 2008 1 Online-Ressource (36 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Working Papers on Insurance and Private Pensions Good governance is increasingly recognized as an important aspect of an efficient private pension system, enhancing investment performance and benefit security. Yet, despite regulatory and industry initiatives, governance weaknesses persist across OECD and non-OECD countries. This paper highlights the main governance challenges faced by policymakers (particularly with trust-based pension systems), and draws on recent policy initiatives to propose possible solutions to strengthen governance arrangements. The paper suggests that some of the more serious cases of governance failures could be solved through a more balanced representation of stakeholders in the governing body, higher levels of expertise (which may be achieved via training or the use of independent trustees) and the implementation of codes of conduct addressing conflicts of interest. The absence of governance arrangements for defined contribution style pension plans also needs to be addressed, potentially via management committees, increased fiduciary responsibility for relevant parties or via a strengthened role for pension supervisory authorities. Consolidation of the pension industry in some countries may also be required to achieve economies of scale and reduce costs, which in turn would allow pension funds to dedicate more resources to strengthening their internal governance Finance and Investment Yermo, Juan ctb https://doi.org/10.1787/241402256531 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Stewart, Fiona Pension Fund Governance Challenges and Potential Solutions Finance and Investment |
| title | Pension Fund Governance Challenges and Potential Solutions |
| title_alt | La gouvernance des fonds de pension |
| title_auth | Pension Fund Governance Challenges and Potential Solutions |
| title_exact_search | Pension Fund Governance Challenges and Potential Solutions |
| title_exact_search_txtP | Pension Fund Governance Challenges and Potential Solutions |
| title_full | Pension Fund Governance Challenges and Potential Solutions Fiona Stewart and Juan Yermo = La gouvernance des fonds de pension : défis à relever et solutions envisageables / Fiona Stewart et Juan Yermo |
| title_fullStr | Pension Fund Governance Challenges and Potential Solutions Fiona Stewart and Juan Yermo = La gouvernance des fonds de pension : défis à relever et solutions envisageables / Fiona Stewart et Juan Yermo |
| title_full_unstemmed | Pension Fund Governance Challenges and Potential Solutions Fiona Stewart and Juan Yermo = La gouvernance des fonds de pension : défis à relever et solutions envisageables / Fiona Stewart et Juan Yermo |
| title_short | Pension Fund Governance |
| title_sort | pension fund governance challenges and potential solutions |
| title_sub | Challenges and Potential Solutions |
| topic | Finance and Investment |
| topic_facet | Finance and Investment |
| url | https://doi.org/10.1787/241402256531 |
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