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Journal articles on the topic 'Pension market'

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Published: 3 June 2025

Last updated: 31 July 2025

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1

FRERICKS, PATRICIA. "Strengthening Market Principles in Welfare Institutions: How Hybrid Pension Systems Impact on Social-risk Spreading." Journal of Social Policy 42, no. 4 (2013): 665–83. http://dx.doi.org/10.1017/s0047279413000500.

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AbstractIn the past two decades, the question of how pension systems should be designed to offer ‘adequate and sustainable pensions for all’ has been raised. As a result, European pension systems, in which market principles in general have played a marginal or even negligible role in the past, were redesigned, with market-based pensions becoming part of the pension calculation norm, i.e. the institutionalised and nationally defined target level for old-age protection. However, since the hybrid pension systems are institutionalised very differently, pension systems’ ingredients, characteristics

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Butler, Graham. "Private Pensions and EU Internal Market Law: Enhancing Retirement Provision through Harmonisation." European Business Law Review 32, Issue 5 (2021): 853–76. http://dx.doi.org/10.54648/eulr2021030.

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Pensions, pension policy, and retirement provision has been historically associated with Member States alone. However, this is not so any longer. For years, occupational pension schemes have been brought within the scope of the internal market of the European Union. Extensive judgments from the Court of Justice of the European Union, as well as harmonised legislation from the EU legislature have followed to improve the marketplace for work-related pensions. Today, the market freedoms are now being furthered to cover not just occupational pension schemes, but also, the private pension market. I

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GINN, JAY, and SARA ARBER. "Personal Pension Take-up in the 1990s in Relation to Position in the Labour Market." Journal of Social Policy 29, no. 2 (2000): 205–28. http://dx.doi.org/10.1017/s0047279400005924.

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Pension reform in Western societies has sought to shift the balance of provision towards the private sector. In Britain, the 1986 Social Security Act marked a watershed in privatisation by promoting personal pensions while cutting the value of the State Earnings Related Pension Scheme. The article assesses the effects of the Act, especially the different implications according to gender and position in the labour market. Data from the 1993/4 and 1994/5 General Household Surveys is used to examine the changing pension arrangements of employees. We distinguish between personal pension membership

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Dorsey, Stuart. "Pension Portability and Labor Market Efficiency: A Survey of the Literature." ILR Review 48, no. 2 (1995): 276–92. http://dx.doi.org/10.1177/001979399504800205.

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This paper reviews the theoretical and empirical literature evaluating the labor market effects of policies to enhance pension portability. One perspective is that reducing the cost of job change will result in a more efficient allocation of workers. In contrast, long-term employment contract models suggest that incentives established by nonportable pensions may enhance efficiency by discouraging quits when there are job-specific productivity gains. No empirical studies have produced estimates conclusively showing that workers covered by pensions are more productive than other workers. Various

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MUNNELL, ALICIA H., and MAURICIO SOTO. "The outlook for pension contributions and profits in the US." Journal of Pension Economics and Finance 3, no. 1 (2004): 77–97. http://dx.doi.org/10.1017/s1474747204001489.

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The bear market that began in 2000 focused attention on two issues – pensions and profits. The initial pension problem was the big decline in value of individual 401(k) accounts. The profit issue was misconduct and stock options. In fact, there is another compelling issue involving both pensions and profits – the impact of the bear market on defined benefit pension plans.Plan sponsors have a projected benefit liability, which until recently was covered by the rise in asset values during the extended bull market. When stock values fell by 50 percent, sponsors for the first time in decades had t

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Starink, Bastiaan, and Hans Van Meerten. "Cross-Border Obstacles and Solutions for Pan-European Pensions." EC Tax Review 20, Issue 1 (2011): 30–40. http://dx.doi.org/10.54648/ecta2011004.

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Pensions are currently at the top of the agenda of companies, employees, pension carriers, governments and, last but not least, the European Commission. This is partly because of the economic crisis pension funds are in right now but also because of the ageing population and the impact on public treasuries. These problems however cannot be solved easily. A well-functioning internal market for pan-European pensions without tax barriers can however contribute in solving the current pension crisis. In this article the authors describe the current situation and legislation regarding cross-border p

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Alimova, Guzal Abdukhakimovna. "Foreign Experience In Indexing The Amount Of Pensions." American Journal of Social Science and Education Innovations 02, no. 11 (2020): 472–77. http://dx.doi.org/10.37547/tajssei/volume02issue11-80.

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The transition of the economy of Uzbekistan from a rigid planning and distribution strategy to market relations and a decrease in the state's influence in the economic sphere, as well as a low level of pension provision, required changes in pensions. The increased attention to it is explained by the fact that it, without exaggeration, affects the interests of the entire population of the country: both those who are already receiving a pension, and those to whom it will be assigned after a while. At the same time, it is indisputable that pension is the basis of the life of any pensioner and its

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FRIEDBERG, LEORA. "Labor market aspects of state and local retirement plans: a review of evidence and a blueprint for future research." Journal of Pension Economics and Finance 10, no. 2 (2011): 337–61. http://dx.doi.org/10.1017/s1474747211000072.

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AbstractTraditional defined benefit (DB) pension plans remain the overwhelming norm for teachers, policemen and other employees of state and local governments. The incentives for workers with DB pension plans to stay in their jobs shift dramatically over the course of their careers. Moreover, limited transferability of pension wealth across states and between public and private jobs impedes mobility in the labor market. Yet, little is known about the labor market effects of pensions on state and local government workers. The literature on private-employer pensions has made contributions on som

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Arza, Camila. "Non-Contributory Benefits, Pension Re-Reforms and the Social Protection of Older Women in Latin America." Social Policy and Society 16, no. 3 (2016): 361–75. http://dx.doi.org/10.1017/s1474746416000208.

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Gender inequalities are a key issue for most pension systems in Latin America. Contributory pension schemes that link benefit entitlements to work and earnings tend to reflect in the benefits they offer the gender gaps that prevail in the labour market. This deepened with the implementation of individual private accounts as part of structural pension reforms in a number of countries. This article evaluates how recent pension policies, including measures geared to coverage expansion and so-called pension ‘re-reforms’, have addressed gender gaps in pensions in four Latin American countries. It s

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Novy-Marx, Robert, and Joshua D. Rauh. "The Liabilities and Risks of State-Sponsored Pension Plans." Journal of Economic Perspectives 23, no. 4 (2009): 191–210. http://dx.doi.org/10.1257/jep.23.4.191.

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As of December 2008, state governments had approximately $1.94 trillion set aside in pension funds for their employees. How does the value of these assets compare to the present value of states' pension liabilities? Just as future Social Security and Medicare liabilities do not appear in the headline numbers of the U.S. federal debt, the financial liability from underfunded public pensions does not appear in the headline numbers of state debt. If pensions are underfunded, then the gap between pension assets and liabilities is off-balance-sheet government debt. We show that government accountin

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Dimitrov, Stanislav, and Elroi Hadad. "Pension tracking system application: A new supervision challenge in the EU." International Journal of Economic Sciences 11, no. 2 (2022): 48–57. http://dx.doi.org/10.52950/es.2022.11.2.004.

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Different areas serve as sources of pension protection for the citizens of the European Union. Along with pensions from public systems, capital pensions are playing an increasing role. Financial institutions-providers of pension savings products operate on a different business model; the diversity cause difficulties in tracking individual’s pension savings, and in promoting pension protection. The pension tracking system is seen as a mechanism for achieving a more efficient market for pension products. This paper examines the development of the pension tracking system (PTS) for European Union

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Akomea-Frimpong, Isaac, Emmanuel Senior Tenakwah, Emmanuel Junior Tenakwah, and Mary Amponsah. "Corporate Governance and Performance of Pension Funds in Ghana: A Mixed-Method Study." International Journal of Financial Studies 10, no. 3 (2022): 52. http://dx.doi.org/10.3390/ijfs10030052.

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This paper assesses the relationship between corporate governance practices and the performance of pension funds in Ghana, which is an emerging market. Data for this study came from two sources: surveys of pension fund managers and annual financial reports of pension funds. Data analysis techniques include mean score ranking and panel regression. The results showed that corporate governance practices such as upholding the rights of shareholders to know the capital structure of the pension funds, equitable treatment of all shareholders, effective internal controls, and timely supervisory functi

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Niemeier, Ernst. "Politik- und Marktversagen erfordern Entgeltund Rentenkorrektur." Wirtschaftsdienst 103, no. 10 (2023): 710–15. http://dx.doi.org/10.2478/wd-2023-0194.

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Abstract Pension policy with regard to statutory pension insurance can be described as a failure, at least since the Riester pension. It does not secure the standard of living and many pensioners are poor despite their pensions. In addition to a reduction in benefit levels, unemployment and significant inequality in income distribution also contribute to these developments. The author calls for compensating for this market and political failure and for raising the pension back to its original level.

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Velín-Fárez, Margarita. "Population and Labor Dynamics in Large Informal Markets: Implications for Pension Systems with Evidence from Ecuador." Contemporary Economics 15, no. 2 (2021): 164–86. http://dx.doi.org/10.5709/ce.1897-9254.442.

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This paper reviews Ecuador’s population structure and labor market dynamics with a focus on the causes of inequality, particularly among older adults receiving contributory pensions. This serves as a basis for characterizing the main restrictions that the Ecuadorian pension system must address. This analysis is valuable for three key reasons. First, the population structure of many less developed countries is converging toward that of developed countries, with older age groups increasing in proportion. Second, Ecuador is among the countries in Latin America and the Caribbean with the highest d

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COOPER, RUSSELL W., and THOMAS W. ROSS. "Protecting underfunded pensions: the role of guarantee funds." Journal of Pension Economics and Finance 2, no. 3 (2003): 247–72. http://dx.doi.org/10.1017/s1474747203001343.

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Employer-related pensions are a common and extremely important component of the compensation paid to workers in both the public and private sectors of developed economies. Many private pensions are insufficiently funded, exposing workers to the risk of a loss should their employer cease operations and not be available to meet pension obligations.In this paper we study the role of guarantee funds as providers of insurance to workers against the failure of firms with underfunded defined benefit pension plans. Employing a model that predicts pension underfunding, we consider first how private gua

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Ginn, Jay, and Ken MacIntyre. "UK Pension Reforms: Is Gender Still an Issue?" Social Policy and Society 12, no. 1 (2012): 91–103. http://dx.doi.org/10.1017/s1474746412000504.

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The UK Pensions Commission confirmed that women's domestic roles are crucial to their pension disadvantage. As a result, measures enacted in the Pensions Acts of 2007 and 2008 aimed to make state pensions more inclusive for those with periods out of the labour market for family caring, as well as encouraging more saving through private pensions by those with low to moderate earnings. Will these legislative changes, and subsequent reforms and plans, substantially reduce future gender inequality in UK pensions? In this article, we suggest the benefits to women will be patchy and overall less tha

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Kupčík, Petr, and Pavel Gottwald. "The Influence of the Sharpe Ratio on Appreciation Savings Intended for the Payment of Lifetime Pensions." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 63, no. 6 (2015): 1987–93. http://dx.doi.org/10.11118/actaun201563061987.

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The paper focuses on the payment of lifetime pensions paid by pension companies based on the selected mortality table of the Czech Statistical Office. We assume different input values depending on the size of the Sharpe ratio pension companies from selected countries. This paper aims to identify and assess the impact of the Sharpe ratio on the payment of lifetime pensions in postproduction period. We used data of nominal appreciation of pension companies from the Visegrad countries and Sweden, Switzerland and the Netherlands in the period 2005–2013. In the empirical analysis we additionally di

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Sorsa, Ville-Pekka, and Natascha van der Zwan. "Sustaining the unsustainable? The political sustainability of pensions in Finland and the Netherlands." Journal of European Social Policy 32, no. 1 (2021): 91–104. http://dx.doi.org/10.1177/09589287211035691.

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What makes a pension scheme sustainable? Most answers to this question have revolved around expert assessments of pension schemes’ affordability or adequacy. This study shifts focus from the financial or social sustainability of pension scheme designs to their political sustainability. Political sustainability refers to policymakers’ ability and willingness to sustain pension schemes in the face of perceived challenges. We seek to fill a key research gap concerning the political sustainability of pensions by highlighting the processes of parametric adjustment through which pension schemes are

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Barreto, Flávio Ataliba Flexa Daltro, and Luiz Ivan de Melo Castelar. "REAL AND FINANCIAL DETERMINANTS OF PENSION MARKETS." Revista Econômica do Nordeste 30, Suplemento Especial (1999): 536–47. http://dx.doi.org/10.61673/ren.1999.1979.

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This paper analyses the real and financial determinants of private pension markets. A preliminary exam of a set of variables representing demand, the stock market and the financial market indicated that income per capita and volatility of the stok market are the main forces influencing pension market size. Regression analyses confirms formally this preliminary funding and shows that the former has a direct relation with pension market size whilst the later displays an inverse relation. Moreover, the elasticity of income per capita is about one third of the elasticity of volatility, implying th

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Dimitrov, Stanislav. "Role of tax incentives for increase in personal pensions saving." VUZF Review 6, no. 4 (2021): 169–78. http://dx.doi.org/10.38188/2534-9228.21.4.19.

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Personal pensions increase their role in the retirement savings in the European Union. The design of the personal pensions is of great importance for the success of the saving. In the European Union there is no common legislation on the taxation of pensions. In recent years, the personal responsibility of savers for making decisions to save for retirement has increased. The limited ability of public pension systems to guarantee an adequate and sustainable income after working age necessitates the search for opportunities to fill this "pension gap". That is why the market for long-term savings

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Brown, Jeffrey R. "Guaranteed Trouble: The Economic Effects of the Pension Benefit Guaranty Corporation." Journal of Economic Perspectives 22, no. 1 (2008): 177–98. http://dx.doi.org/10.1257/jep.22.1.177.

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How did the Pension Benefit Guaranty Corporation, a government corporation created to insure the pensions of workers and retirees in bankrupt firms, end up facing financial distress of its own? How did an organization designed to strengthen retirement security come to be seen as contributing to retirement insecurity? The superficial answer is that the PBGC's current funding problem arises from the decline in stock market prices in 2000, which reduced pension assets, and the fall in interest rates at about the same time, which boosted the present value of pension liabilities. But more fundament

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Seldal, Mette Marie Næser, and Ellen K. Nyhus. "Finansiell kunnskap og pensjonsatferd." Magma 28, no. 2 (2025): 65–74. https://doi.org/10.23865/magma.v28.1495.

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De siste tiårene har det norske pensjonssystemet endret seg i en retning som medfører at arbeidstakere må ta flere beslutninger som påvirker egen pensjon enn tidligere. Spesielt viktig er valg knyttet til forvaltning av tjenestepensjon og egen pensjonssparing. Denne artikkelen undersøker om alle arbeidstakere kan antas å ha den nødvendige kunnskap for å håndtere dette ansvaret. Vi analyserer data samlet inn fra et representativt utvalg av voksne nordmenn for å belyse viktigheten av finansiell kunnskap for å ta gode valg om sparing og forvaltning av pensjonsformue. Funnene viser at ulikheter i

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CORONADO, JULIA, OLIVIA S. MITCHELL, STEVEN A. SHARPE, and S. BLAKE NESBITT. "Footnotes aren't enough: the impact of pension accounting on stock values." Journal of Pension Economics and Finance 7, no. 3 (2008): 257–76. http://dx.doi.org/10.1017/s147474720800379x.

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AbstractRecent research has suggested that companies with defined benefit (DB) pensions are sometimes significantly misvalued by the market. This is because the measures of pension cost and pension net liabilities embedded in financial statements can provide a very misleading picture of pension finances, if taken at face value. The more pertinent information on pension finances is relegated to footnotes, which may not receive much attention from portfolio managers. Dramatic swings in the financial conditions of large DB plans around the turn of the decade focused attention on pension accountin

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Park, Heejin. "Target Date Funds: Current Status and Issues." Korean Journal of Financial Studies 51, no. 6 (2022): 729–54. http://dx.doi.org/10.26845/kjfs.2022.12.51.6.729.

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Target date funds (TDFs) have their portfolios periodically adjusted according to the retirement dates of fund subscribers and are generally composed of several funds. TDFs attract attention in the recent pension market due to the increasing role of private pensions, the concern about the depletion and financial instability of the National Pension Fund, increased interest in stock and fund markets after COVID-19, and the introduction of the retirement pension default option. In particular, target date funds seeking globally diversified investment strategies could change the irrational investme

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M.Manan, Yuliyanti. "PENDEKATAN STRATEGIS ADAPTIF BERBASIS SJSN (BPJS) DALAM UPAYA PENGEMBANGAN PRODUK PENSIUN NASIONAL." DIALEKTIKA : Jurnal Ekonomi dan Ilmu Sosial 5, no. 1 (2020): 77–86. http://dx.doi.org/10.36636/dialektika.v5i1.412.

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ABSTRACT The Capital Market Industry and Non-Bank Financial Institutions (NBFIs) provide alternative means of investment and financial planning for the public. Funds collected in the capital market and the non-bank financial industry (IKNB) and the movement of funds through the financial markets, including capital markets and non-bank financial institutions, are the main keys to the movement of a country's economy. The ranking of penetration results from the World Bank in 6 Asian countries Indonesia ranks 6th, in order to increase penetration, an adaptive approach based on the National S

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Kuznetsova, Natalia P., and Zhanna V. Pisarenko. "Financial Convergence Analysis: Implication for Insurance and Pension Markets." Verslas: Teorija ir Praktika 17, no. 2 (2016): 89–100. http://dx.doi.org/10.3846/btp.2016.536.

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The proposed paper is one of a set of articles dedicated to the new phenomenon in the global and national financial markets – financial convergence – and is focused on theoretical issues. The hypothesis of the article is to argue whether the financial convergence determines the directions of financial market (namely, insurance and pension sectors) development. Adequately the goal of this paper is to analyze the existence of convergence processes in the insurance and pension markets. Methods of systematic and logical analysis are used. In the first part authors give brief history of the converg

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Kuznetsova, Natalia, and Zhanna V. Pisarenko. "Financial Convergence Analysis: Implication for Insurance and Pension Markets." Business: Theory and Practice 17, no. (2) (2016): 89–100. https://doi.org/10.3846/btp.2016.536.

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The proposed paper is one of a set of articles dedicated to the new phenomenon in the global and national financial markets – financial convergence – and is focused on theoretical issues. The hypothesis of the article is to argue whether the financial convergence determines the directions of financial market (namely, insurance and pension sectors) development. Adequately the goal of this paper is to analyze the existence of convergence processes in the insurance and pension markets. Methods of systematic and logical analysis are used. In the first part authors give brief history of the converg

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HENNESSY, ALEXANDRA. "Explaining German Selectivity Regarding European Union Pension Directives." Journal of Public Policy 28, no. 3 (2008): 341–71. http://dx.doi.org/10.1017/s0143814x08000925.

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ABSTRACTWhy do German policymakers support some aspects of a single European pension market, but not others? This article argues that the German government’s preferences towards European Union (EU) pension directives are best explained by combining historical institutionalism (HI) and domestic discourse analysis (DA). Each approach by itself is insufficient to account for the observed variation between 1991 and 2007. Arguments based on party ideologies offer less explanatory power. HI explains why all governments – Kohl, Schröder, and Merkel – protected employer-sponsored book reserve pensions

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Sukovic, Danilo. "Reforms of pension system and problem of aging population." Stanovnistvo 51, no. 1 (2013): 91–102. http://dx.doi.org/10.2298/stnv1301091s.

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This paper analyzes the far-reaching changes on social plane caused by aging population which endanger social security for old people, especially in times of global economic crisis and major changes in the labor market. A special emphasis is given to the economic unsustainability of the pension system in Serbia, where the ratio of the aging population and the working population is very unfavorable, and where high unemployment and weak economic growth threaten an aging population and increase the poverty. The analysis shows that pensions in Serbia in recent years have a real decline, and their

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Bayar, Yilmaz, Marius Dan Gavriletea, Dan Constantin Danuletiu, Adina Elena Danuletiu, and Emre Sakar. "Pension Funds, Insurance Companies and Stock Market Development: Evidence from Emerging Markets." Mathematics 10, no. 13 (2022): 2335. http://dx.doi.org/10.3390/math10132335.

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Stock markets foster economic growth through meeting the fund requirements of the firms by individual and institutional investors. Pension funds and insurance companies with their long-term investment horizon are critical institutional investors in capital markets. Therefore, this article explores the effect of pension funds and insurance companies on stock market development in 15 emerging market economies over the 2004–2019 period through panel cointegration and causality tests. The causality analysis revealed that stock market development had a significant impact on pension funds and the in

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Stojanović, Boban, Snežana Radukić, Milan Kostić, and Zorana Kostić. "How does market share affect the increase in the value of investment unit of voluntary pension funds?" Ekonomika preduzeca 68, no. 7-8 (2020): 457–68. http://dx.doi.org/10.5937/ekopre2008457s.

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The importance of this research stems from highly concentrated markets of voluntary pension funds, on the one hand, and intensive competition pressure among market participants, on the other. The main purpose of this paper is to evaluate the static and dynamic relationship between a pension fund's market share and value of its investment unit. The research was designed to monitor the changes in the size of market share and investment units in the period from 2008 to 2017 in the funds in the Republic of Serbia. The main findings suggest that the size of market share of individual voluntary pens

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DRAPER, NICK, ED WESTERHOUT, and ANDRÉ NIBBELINK. "Defined benefit pension schemes: a welfare analysis of risk sharing and labour market distortions." Journal of Pension Economics and Finance 16, no. 4 (2015): 467–84. http://dx.doi.org/10.1017/s1474747215000074.

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AbstractTraditionally, collective defined benefit pension schemes have played an important role in the provision of pensions. Various trends such as population ageing put these schemes under serious pressure, however. Whether this is good or bad depends among other things on two factors: one is the value of the risk sharing between generations that is organized by pension schemes, and another is the cost of the distortions of labour supply decisions that these collective schemes imply. This paper constructs a model with overlapping generations of households and a pension scheme to assess the r

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Westerhout, Ed, Eduard Ponds, and Peter Zwaneveld. "Reforming the Dutch pension system to ensure sustainability." International Social Security Review 77, no. 3 (2024): 99–122. http://dx.doi.org/10.1111/issr.12368.

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AbstractThe Netherlands is on the brink of reforming its system of occupational pensions as part of a more general reform of its three‐pillar pension system. This reform features important changes to first pillar pension benefits. The focus of this article is however on the coming reform of occupational pensions, the second pillar of the system, which concerns both pension contributions and benefits. This reform is related to a series of reforms that have gradually transformed the pension contract that was dominant 20 years ago, a final salary defined benefit contract, into a collective define

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Dekkers, Gijs, Karel Van den Bosch, Mikkel Barslund, et al. "How Do Gendered Labour Market Trends and the Pay Gap Translate into the Projected Gender Pension Gap? A Comparative Analysis of Five Countries with Low, Middle and High GPGs." Social Sciences 11, no. 7 (2022): 304. http://dx.doi.org/10.3390/socsci11070304.

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This article explores how the Gender Pension Gap (GPG)—the relative difference in average pension received by men and women—might evolve in the future in various European countries, given past, current, and projected future labour market behaviour and earnings of women and men, and current pension regulations. The GPG reflects career inequalities between women and men, though these are partly mitigated by the redistributive impact of the public retirement pensions. They are further mitigated by survivor benefits. This study aims to document both mechanisms in the projections of the GPG. As the

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Pashkova, Galina G. "Professional pensions in Russia: problems and prospects." Vestnik Tomskogo gosudarstvennogo universiteta. Pravo, no. 44 (2022): 147–58. http://dx.doi.org/10.17223/22253513/44/13.

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The article substantiates the need to reform the pension system of the Russian Federation. According to the author, the most effective way to reduce the financial burden on the Pension Fund of the Russian Federation is to reform the institution of early (preferential) pensions, because the scale of providing preferential pensions in Russia is unparalleled in world practice. The article examines the history of concessional pension provision in Russia and the stages of reforming the pension system in sufficient detail. The author examines the measures that were planned in the 1995 Concept of Ref

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Gorlovskaya, Irina Georgiyevna, and Irina Mikhaylovna Reutova. "DEVELOPMENT OF THE PENSION saving MARKET: BEHAVIORAL ASPECT OF GENERATION Z." Scientific Bulletin: finance, banking, investment., no. 2 (55) (2022): 103–10. http://dx.doi.org/10.37279/2312-5330-2021-2-103-110.

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The article deals with the development of the pension savings market in the Russian Federation. The population is one of the key participants in the pension savings market. The authors investigate the factors, conditions and incentives for the development of the pension savings market. Factors and conditions form the preconditions for the development of the Russian market for pension savings. The conditions for the functioning of participants in the pension savings market are formed by the state. Market prospects are linked to Generation Z. Factors and conditions, together with incentives, cre

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Gorlovskaya, Irina Georgiyevna, and Irina Mikhaylovna Reutova. "DEVELOPMENT OF THE PENSION saving MARKET: BEHAVIORAL ASPECT OF GENERATION Z." Scientific Bulletin: finance, banking, investment., no. 2 (55) (2022): 103–10. http://dx.doi.org/10.37279/2312-5330-2021-2-103-110.

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The article deals with the development of the pension savings market in the Russian Federation. The population is one of the key participants in the pension savings market. The authors investigate the factors, conditions and incentives for the development of the pension savings market. Factors and conditions form the preconditions for the development of the Russian market for pension savings. The conditions for the functioning of participants in the pension savings market are formed by the state. Market prospects are linked to Generation Z. Factors and conditions, together with incentives, cre

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Zagarskih, Vera Valeryevna, and Elena V. Karanina. "THE ECONOMIC EFFECT OF RAISING THE RETIREMENT AGE AND THE PACE OF INDEXATION IN THE FRAMEWORK OF PENSION REFORM IN RUSSIA." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 1/2, no. 154 (2025): 164–76. https://doi.org/10.36871/ek.up.p.r.2025.01.02.018.

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The article examines the issues of pension reform in Russia since 2019, the reasons for its implementation and economic effect, as well as the allocation of released funds for the implementation of national projects, including the Demography project. The article pays attention to the impact of increasing the retirement age on the labor market, the size and composition of the labor force. An analysis of pension indexation within the framework of the ongoing reform, as well as a new calculation of pensions, based on the cost, including pension points, is carried out.

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Shaqiri, Nexhmedin. "Economic Transition Process and Kosovo Pension Reform System." European Journal of Economics and Business Studies 6, no. 1 (2016): 80. http://dx.doi.org/10.26417/ejes.v6i1.p80-100.

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This article aims to study the Kosovo economic transition process and its impact on the Pension system reform. The study will focus on; model of new economic building system (market liberalization, economic recovery, the concept of entrepreneurship development, system integration of economic trends in the global economy, privatization and transformation of property, social welfare, social justice), etc. During this study different theories on the transition process in the economy will be used, as well as theories on reforming the pension system in the world, which affirm the sustainability of

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Trivedi, Dr Samamba Lennox. "Legal Aspects of Promoting Investor and Issuer Participation in Sub-Saharan Africa Equity Markets—The Case for a Functional Bond Market." International Journal of Research and Innovation in Social Science VII, no. VIII (2023): 249–73. http://dx.doi.org/10.47772/ijriss.2023.7818.

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This study examines the Zambian regulatory and institutional framework which governs the public distribution of securities so as to establish whether or not the said framework provides adequate incentives for the growth of bond issues and the bond market in Zambia. The study employs the doctrinal and the non-doctrinal approaches to evaluating the effectiveness of regulatory rules and institutions. The results of the study are: (i) the Zambian bond market is in the nascent stage of development like the bond markets of most Sub-Saharan jurisdictions (ii) the corresponding equity markets in Sub-S

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Paiella, Monica. "The Italian gender gap in pensions: A cohort of birth approach." Ubezpieczenia Społeczne. Teoria i praktyka 157, no. 2 (2023): 1–24. http://dx.doi.org/10.5604/01.3001.0054.1480.

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Introduction: The text discusses the gender pension gap in rich countries, focusing specifically on Italy. The paper delves into the evolution of this gap across different generations, analyzing social security reforms and their impact on retirement incomes. The study emphasizes the importance of understanding these disparities for designing effective pension systems that address gender inequalities and ensure well-being in retirement.Objective: The aim of the article is to investigate the gender pension gap, specifically in the context of Italy, by analyzing the factors contributing to this d

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Handoko, Didy. "EFFECT OF PENSION FUNDS, ASSET SIZE AND RETURN ON ASSETS OF INVESTMENT PORTFOLIO PENSION FUND IN INDONBSIA." Business and Entrepreneurial Review 14, no. 2 (2016): 127. http://dx.doi.org/10.25105/ber.v14i2.1147.

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The background is this research is to explore and get an understanding about the factor that affect the invesment portfolio of pension fund in Indonesia. This research using type of pension fund and size of asset as independent variable. The pension benefit is one of the most important benefits for employee when they get retired. But in the other side it is important for employer and pension fund to improve invesment portfolio in capital market. Sampled used inthis research consisted on 20 pensions fund. Which were observed cross section ally using data of period 2004 and 2008. This researc us

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Bayar, Yilmaz. "Individual Pension Funds and Capital Market Development in Turkey." Review of Economic and Business Studies 9, no. 2 (2016): 95–109. http://dx.doi.org/10.1515/rebs-2016-0036.

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AbstractBeginning with the 1980s, when the sustainability of the public pension systems became endangedered, many countries have developed their individual pension plans and/or occupational pension plans in order to supersede or support their public pension systems,. This study examines the impact of individual pension funds on the development of both debt securities market and stock market in Turkey during the period October 2006-May 2015, using Hatemi (2008) cointegration test and Toda and Yamamoto (1995) causality test with monthly data. We found that, in the long run, the private pension f

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Zaburanna, L., I. Shubenko, and I. Godniuk. "Real and gitopetical risks of the future accumulative level of pension insurance in Ukraine." Scientific Horizons 93, no. 8 (2020): 13–20. http://dx.doi.org/10.33249/2663-2144-2020-93-8-13-20.

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No decisive steps have been taken in Ukraine to introduce a cumulative level of pension provision. The significant number of risks is one of the reasons for this. The purpose of the article is to study the theoretical foundations of hypothetical and real risks of the cumulative level of the pension system in Ukraine, which is expected to be introduced. A number of methods were used in the study, including abstract-logical, methods of analysis and synthesis and comparative analysis. It is argued that the cumulative level of pension provision will be characterized by a number of real risks: orga

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BOLLA, LIDIA, HAGEN WITTIG, and ALEXANDER KOHLER. "The liability market value as benchmark in pension fund performance measurement." Journal of Pension Economics and Finance 15, no. 1 (2014): 90–111. http://dx.doi.org/10.1017/s147474721400033x.

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AbstractOften performance of pension funds is assessed based on the development of the assets only, neglecting the simultaneous development of the liabilities. This especially is the case in Switzerland, one of the world's largest markets for corporate pension funds. We create a new liability benchmark for referencing the asset performance. Measuring the asset performance with respect to the liability benchmark yields the Asset-Liability-Result. We apply the model to (i) the Swiss pension fund market as a whole and (ii) an individual Swiss pension fund. With our new approach, we are able to sh

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van der Zwan, Natascha. "Financialisation and the Pension System: Lessons from the United States and the Netherlands." Journal of Modern European History 15, no. 4 (2017): 554–84. http://dx.doi.org/10.17104/1611-8944-2017-4-554.

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Financialisation and the Pension System: Lessons from the United States and the Netherlands The articles explores the financialisation of private pensions in the United States and the Netherlands. It proposes two distinct arguments. First, the article shows that both the American and the Dutch pension systems stand out internationally for their high degrees of capitalisation and the absence of substantive investment restrictions for pension funds. The article posits that both pension systems are highly financialised, yet the process of financialisation has proceeded along different historical

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Poškutė, Virginija, Tadas Gudaitis, Teodoras Medaiskis, and Jaroslav Mečkovski. "SEARCH FOR SUSTAINABLE PENSION SYSTEM AND STATE SUPPORT FOR FUNDED PENSIONS IN CEE COUNTRIES." Business: Theory and Practice 23, no. 2 (2022): 313–22. http://dx.doi.org/10.3846/btp.2022.16250.

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Pension systems around Europe are being reformed for several decades already. Main objectives of the reforms are to enable people to have adequate income at retirement and to ensure the system’s financial sustainability. Many European countries implemented policies aiming at diversification of financing sources of income at older age: risk-sharing between pay-as-you-go and funded pensions is expected to help in achieving social policy objectives towards pension systems. Central and Eastern European countries (CEE) face even more challenges in ensuring adequate income at retirement. First, CEE

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Аникеева, Л., L. Anikeeva, Александра Митрофанова, and Aleksandra Mitrofanova. "Labor Market in the Light of Pension Reform." Management of the Personnel and Intellectual Resources in Russia 8, no. 2 (2019): 75–78. http://dx.doi.org/10.12737/article_5cb714de032258.66201207.

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The article deals with issues related to the change in the situation on the labor market in connection with the new pension reform. The mechanism of the impact of the conditions and standards of pensions on the state of the labor market is revealed. Special attention is paid to increasing tension in the labor market due to the increase in the retirement age. The procedure for raising the retirement age is revealed, categories of workers are identified that will not be affected by raising the retirement age or who are entitled to receive an old-age insurance pension of a higher retirement age.

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Yakubu, Sule, Taiwo Adewale Muritala, Ahmed Oluwatobi Adekunle, and Joseph Olorunfemi Akande. "Nexus Between Pension Funds and Stock Market Sustainability Development in Nigeria." Journal of Law and Sustainable Development 11, no. 12 (2023): e2074. http://dx.doi.org/10.55908/sdgs.v11i12.2074.

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Objective: It has long been recognized that pension systems across the emerging markets including Nigeria have undergone dramatic reforms over the last twenty-eight years. This process has mainly been fueled by the demographic problem faced by modern financial systems. Hence, this study examines the short-run and long-run dynamic of pension funds on capital market development in Nigeria using ex-post facto research design. Method: Data were collected from the Central Bank of Nigeria (CBN) statistical bulletin and annual report of the pension fund commission from 1995 to 2022. Data collected we

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BUCCIOL, ALESSANDRO, and ROEL M. W. J. BEETSMA. "Consequences for welfare and pension buffers of alternative methods of discounting future pensions." Journal of Pension Economics and Finance 10, no. 3 (2010): 389–415. http://dx.doi.org/10.1017/s1474747210000259.

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AbstractWe explore the implications of alternative methods of discounting future pension outlays for the valuation of funded pension liabilities. Measured liabilities affect the asset–liability ratio of pension funds and, thereby, their policies. Our framework for analysis is an applied many-generation OLG model describing a small open economy with heterogeneous agents and a two-pillar pension system (with pay-as-you-go and funded tiers) calibrated to that in the Netherlands. We compare mark-to-market discounting against various alternatives, such as discounting against a moving average of pas

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