---

Proving Incentives for Long-Term Investment by Pension Funds: The Use of Outcome-based Benchmarks

Autor: Stewart, Fiona
Año: 2014
Resumen: A fundamental goal of any pension system is to ensure that members receive an adequate income when they retire. Although traditional defined benefit pension plans set out how pension income will be determined in advance and then strive to deliver this, the growing number of defined contribution plans accumulate a sum of assets which can then be turned into a pension income on retirement. However, the amount of this retirement income is not predefined This frequently leads to a focus by not only most pension providers, but also regulators and pension plan members themselves on the short-term accumulation of pension assets rather than the longer-term goal of securing an adequate retirement income. This paper discusses a possible solution to this challenge: the use of benchmarks to encourage pension funds to invest with the longer-term goal of delivering adequate retirement income in mind. Examples are provided of leading pension funds that already work with long-term, outcome-based benchmarks. The paper suggests a methodology for pension regulators to use in order to incentivize pension funds in their jurisdictions to adopt a similar approach.

Fuente: Banco Mundial
Clasificación: Fondos de Inversión
Tipo de Publicación: Documentos de Trabajo
Idioma:

Para visualizar el documento, clic aquí »

---

Striving for Better Jobs: The Challenge of Informality in the Middle East and North Africa

Autor: Bodor, Andras; Gatti, Roberta; Angel-Urdinola, Diego F.; Silva, Joana
Año: 2014
Resumen: Economic growth has been sustained for many years pre-crisis in the region, but this has not resulted in the creation of an adequate number of jobs and has succeeded, at best, in generating low-quality, informal jobs. The report addresses one margin of exclusion: informal employment and the vulnerabilities and lack of opportunities associated with it. The report analyzes the constraints that prevent informal workers from becoming formal and discusses policy options to effectively address these constraints. This report looks at informality through a human development angle and focuses particularly on informal employment. Informality is a complex phenomenon, comprising unpaid workers and workers without social security or health insurance coverage, small or micro-firms that operate outside the regulatory framework and large registered firms that may partially evade corporate taxes and social security contributions. The first section provides a detailed profile of informal workers in the region. The second section describes the characteristics of informality in micro-firms that operate outside the regulatory framework and in larger firms that do not fully comply with social security contribution requirements and tax obligations. The third section presents informality and the firm. The fourth section focuses on informality: choice or exclusion? The fifth section discusses policy options for effectively expanding coverage of health insurance and pension systems and promoting the creation of better quality jobs.

Fuente: Banco Mundial
Clasificación: Mercado Laboral
Tipo de Publicación: Libros
Idioma:

Para visualizar el documento, clic aquí »

---

Socially responsible investment, decent work and pension funds: concepts and international experiences

Autor: Goy, Julien; Schwarzer, Helmut
Año: 2013
Resumen: This paper aims at reviewing concepts and international experiences of SRI practices, especially among pension funds. It also provides an overview of what a pension fund can do if its stakeholders and managers take the decision to apply SRI criteria. The document should be seen as a contribution to the implementation of the Statement of Intent between the Government of Brazil and the International Labour Organization to promote decent work through the investment policies of Brazilian private pension funds, signed during the International Labour Conference in June 2011. The paper’s frame of reference is the investment of the assets of funds, such as pension schemes or funds of a similar nature, in the securities issued by corporate entities, and mainly - but not exclusively - company shares.

Fuente: Organización Internacional del Trabajo (OIT)
Clasificación: Fondos de Inversión
Tipo de Publicación: Documentos de Trabajo
Idioma:

Para visualizar el documento, clic aquí »

---

Botswana Social Protection

Autor: Tesliuc, Cornelia; Silverio Marques, Jose; Mookodi, Lillian; Braithwaite, Jeanine; Sharma, Siddarth; Ntseane, Dolly
Año: 2013
Resumen: The report lays out options to use social safety nets to meet the goal set by the Government of Botswana to eradicate extreme poverty by 2016 and in a budget neutral way. Introducing a Family Support Grant is argued to be a more efficient way to address absolute poverty by offering a family benefit to all the families in absolute poverty. Reforms in the Ipelegeng public works program would allow addressing existing shortcomings associated with coverage, targeting, generosity, and wrong labor incentives. The combination of the above will allow for a better weaving of the Social Safety Nets to ensure that the goal of lifting 16% of population from absolute poverty by 2016 is achieved.

Fuente: Banco Mundial
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Informes
Idioma:

Para visualizar el documento, clic aquí »

---

Institutional Investors and Green Infrastructure Investments Selected Case Studies

Autor: Kaminker, Christopher; Kawanishi, Osamu; Stewart, Fiona; Caldecott, Ben; Howarth, Nicholas
Año: 2013
Resumen: This report is structured in three chapters. The first chapter examines the channels through which institutional investors can access green infrastructure, assesses the extent to which this is currently happening, and identifies the barriers to scaling up these investment flows. The second chapter presents four case studies: on utility-scale solar PV power generation in the United States, sustainable agriculture in Brazil, off-shore wind energy in the United Kingdom, and the securitisation of on-shore wind farms in Germany and France. The third chapter uses the conclusions on the case studies to draw out broader lessons for governments on the policy settings which may support investment in green infrastructure by institutional investors. These include, inter alia, ensuring a stable and integrated policy environment, addressing market failures, providing an infrastructure road map, facilitating the development of appropriate green financing vehicles, and promoting market transparency and improved data collection.

Fuente: Organización para la Cooperación y el Desarrollo Económico (OCDE)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

Para visualizar el documento, clic aquí »

---