Outcomes and Risk Based Supervision in Pensions: Methodology with a Case Study for Costa Rica

doi:10.1596/25175

Publication:
Outcomes and Risk Based Supervision in Pensions: Methodology with a Case Study for Costa Rica

dc.contributor.author	Price, William
dc.contributor.author	Ashcroft, John
dc.contributor.author	Inglis, Evan
dc.date.accessioned	2016-10-17T18:50:40Z
dc.date.available	2016-10-17T18:50:40Z
dc.date.issued	2016-06
dc.description.abstract	This report illustrates a new methodology to develop an Outcomes and Risk Based Supervision (ORBS) framework for funded pensions with a case study of Costa Rica. The approach was used in a FIRST1 funded project in Costa Rica with the regulator and supervisor of pensions SUPEN. The intention is to highlight an approach that may be useful in the region, and globally, to help agencies responsible for private pensions to focus on the long run outcomes they are seeking to achieve, identify the risks to these outcomes and implement the most effective solutions to these risks. This is all done through a consistent framework that embeds the long run outcomes at the heart of the process, and so lends itself naturally to the greater focus on results, and Monitoring and Evaluation that are central to modern development projects. The focus on Costa Rica also helps illustrate the approach in a country that has not typically been used as a case study. This helps to broaden the range of case studies available for practitioners and expands the possibilities for ‘South-South’ learning. It also shows how the approach can be tailored to the specific characteristics of a country. The report starts with a description of the Costa Rican pension system. This provides the context for the case study. It helps to illustrate the variety of defined benefit and defined contribution pensions that needed to be covered. It also identifies the wide range of different institutions involved in delivering good pension outcomes, and hence the ‘eco-system’ in which the supervisor needs to operate effectively to improve outcomes for the benefits of pension savers in Costa Rica.	en
dc.identifier	http://documents.worldbank.org/curated/en/2016/06/26523235/world-outcome-based-assessments-private-pensions-methodology-case-study-costa-rica
dc.identifier.doi	10.1596/25175
dc.identifier.uri	https://hdl.handle.net/10986/25175
dc.language	English
dc.language.iso	en_US
dc.publisher	World Bank, Washington, DC
dc.rights	CC BY 3.0 IGO
dc.rights.holder	World Bank
dc.rights.uri	http://creativecommons.org/licenses/by/3.0/igo/
dc.subject	pensions
dc.subject	social protection
dc.subject	diagnosis
dc.subject	assessment
dc.subject	supervision
dc.subject	solvency risk
dc.subject	regulation
dc.title	Outcomes and Risk Based Supervision in Pensions	en
dc.title.subtitle	Methodology with a Case Study for Costa Rica	en
dc.type	Working Paper	en
dc.type	Document de travail	fr
dc.type	Documento de trabajo	es
dspace.entity.type	Publication
okr.crossref.title	Outcomes and Risk Based Supervision in Pensions
okr.date.disclosure	2016-09-20
okr.doctype	Publications & Research::Working Paper
okr.doctype	Publications & Research
okr.docurl	http://documents.worldbank.org/curated/en/2016/06/26523235/world-outcome-based-assessments-private-pensions-methodology-case-study-costa-rica
okr.guid	282571474350217050
okr.guid	727671474350439003
okr.identifier.doi	10.1596/25175
okr.identifier.externaldocumentum	090224b0845963b3_2_0
okr.identifier.internaldocumentum	26523235
okr.identifier.report	ACS18888
okr.imported	true
okr.language.supported	en
okr.pdfurl	http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/CTR/2016/09/20/090224b0845963b3/2_0/Rendered/PDF/Main0report.pdf	en
okr.theme	Financial and private sector development
okr.topic	Social Protections and Labor::Pensions & Retirement Systems
okr.topic	Social Protections and Labor::Social Funds and Pensions
okr.unit	F&M GP GST - 1B Fin Sys & Mrkts (GFM1B)