Collective Pension Funds: International Evidence and Implications for China's Enterprise Annuities Reform
Collective pension funds (CPFs) - occupational pension funds that cover the employees of more than one employer (enterprise) - have been operating in OECD countries for decades. Generally speaking, there are two models, i.e. closed pension funds, with membership restricted to a particular industry o...
Gespeichert in:
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2007
|
| Schriftenreihe: | OECD Working Papers on Insurance and Private Pensions
no.9 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Collective pension funds (CPFs) - occupational pension funds that cover the employees of more than one employer (enterprise) - have been operating in OECD countries for decades. Generally speaking, there are two models, i.e. closed pension funds, with membership restricted to a particular industry or group of industries, and open pension funds open to all types of company. The governance structure of such funds also operates in two ways - via an internal model (with trustees appointed by employers and employees) and external model (with professional, commercial trustees). In this report, we first describe and analyse how CPFs are operated in selected OECD countries and non-OECD economies. Then, we review occupational pensions (or Enterprise Annuities -EA- in Chinese terminology) in general and CPFs in particular. Given the problems holding back the development of EA plans among small and medium size enterprises (SMEs) in China, and bearing in mind both China's specific situations and international best practices, we propose a number of policy recommendations to promote the development of CPFs covering the SME sector. Our practical policy recommendations include 1) industry funds with more open membership; 2) establishment of new purpose-built industry funds; 3) establishment of new regional EA administration centres acting as independent pension councils (trustees) for open pension funds; 4) in parallel to these policy initiatives in China, commercial trustees should be encouraged to establish CPFs targeting the SME sector. |
| Beschreibung: | 1 Online-Ressource (48 p.) 21 x 29.7cm. |
| DOI: | 10.1787/123505600000 |
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| 520 | |a Collective pension funds (CPFs) - occupational pension funds that cover the employees of more than one employer (enterprise) - have been operating in OECD countries for decades. Generally speaking, there are two models, i.e. closed pension funds, with membership restricted to a particular industry or group of industries, and open pension funds open to all types of company. The governance structure of such funds also operates in two ways - via an internal model (with trustees appointed by employers and employees) and external model (with professional, commercial trustees). In this report, we first describe and analyse how CPFs are operated in selected OECD countries and non-OECD economies. Then, we review occupational pensions (or Enterprise Annuities -EA- in Chinese terminology) in general and CPFs in particular. Given the problems holding back the development of EA plans among small and medium size enterprises (SMEs) in China, and bearing in mind both China's specific situations and international best practices, we propose a number of policy recommendations to promote the development of CPFs covering the SME sector. Our practical policy recommendations include 1) industry funds with more open membership; 2) establishment of new purpose-built industry funds; 3) establishment of new regional EA administration centres acting as independent pension councils (trustees) for open pension funds; 4) in parallel to these policy initiatives in China, commercial trustees should be encouraged to establish CPFs targeting the SME sector. | ||
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| indexdate | 2024-11-26T14:55:55Z |
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| spelling | Hu, Yu-Wei VerfasserIn aut Collective Pension Funds International Evidence and Implications for China's Enterprise Annuities Reform Yu-Wei, Hu ... [et al] = Fonds de pension collectifs : Observations internationales et conséquences pour la réforme des rentes d'entreprise en Chine / Yu-Wei, Hu ... [et al] Fonds de pension collectifs Paris OECD Publishing 2007 1 Online-Ressource (48 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Working Papers on Insurance and Private Pensions no.9 Collective pension funds (CPFs) - occupational pension funds that cover the employees of more than one employer (enterprise) - have been operating in OECD countries for decades. Generally speaking, there are two models, i.e. closed pension funds, with membership restricted to a particular industry or group of industries, and open pension funds open to all types of company. The governance structure of such funds also operates in two ways - via an internal model (with trustees appointed by employers and employees) and external model (with professional, commercial trustees). In this report, we first describe and analyse how CPFs are operated in selected OECD countries and non-OECD economies. Then, we review occupational pensions (or Enterprise Annuities -EA- in Chinese terminology) in general and CPFs in particular. Given the problems holding back the development of EA plans among small and medium size enterprises (SMEs) in China, and bearing in mind both China's specific situations and international best practices, we propose a number of policy recommendations to promote the development of CPFs covering the SME sector. Our practical policy recommendations include 1) industry funds with more open membership; 2) establishment of new purpose-built industry funds; 3) establishment of new regional EA administration centres acting as independent pension councils (trustees) for open pension funds; 4) in parallel to these policy initiatives in China, commercial trustees should be encouraged to establish CPFs targeting the SME sector. Finance and Investment China, People's Republic Pugh, Colin MitwirkendeR ctb Stewart, Fiona MitwirkendeR ctb Yermo, Juan MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/123505600000 Volltext |
| spellingShingle | Hu, Yu-Wei Collective Pension Funds International Evidence and Implications for China's Enterprise Annuities Reform Finance and Investment China, People's Republic |
| title | Collective Pension Funds International Evidence and Implications for China's Enterprise Annuities Reform |
| title_alt | Fonds de pension collectifs |
| title_auth | Collective Pension Funds International Evidence and Implications for China's Enterprise Annuities Reform |
| title_exact_search | Collective Pension Funds International Evidence and Implications for China's Enterprise Annuities Reform |
| title_full | Collective Pension Funds International Evidence and Implications for China's Enterprise Annuities Reform Yu-Wei, Hu ... [et al] = Fonds de pension collectifs : Observations internationales et conséquences pour la réforme des rentes d'entreprise en Chine / Yu-Wei, Hu ... [et al] |
| title_fullStr | Collective Pension Funds International Evidence and Implications for China's Enterprise Annuities Reform Yu-Wei, Hu ... [et al] = Fonds de pension collectifs : Observations internationales et conséquences pour la réforme des rentes d'entreprise en Chine / Yu-Wei, Hu ... [et al] |
| title_full_unstemmed | Collective Pension Funds International Evidence and Implications for China's Enterprise Annuities Reform Yu-Wei, Hu ... [et al] = Fonds de pension collectifs : Observations internationales et conséquences pour la réforme des rentes d'entreprise en Chine / Yu-Wei, Hu ... [et al] |
| title_short | Collective Pension Funds |
| title_sort | collective pension funds international evidence and implications for china s enterprise annuities reform |
| title_sub | International Evidence and Implications for China's Enterprise Annuities Reform |
| topic | Finance and Investment China, People's Republic |
| topic_facet | Finance and Investment China, People's Republic |
| url | https://doi.org/10.1787/123505600000 |
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