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Risk-Based Supervision of Pension Funds : A Review of International Experience and Preliminary Assessment of the First Outcomes

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dc.contributor.authorBrunner, Gregory
dc.contributor.authorHinz, Richard
dc.contributor.authorRocha, Roberto
dc.date.accessioned2012-05-25T20:46:31Z
dc.date.available2012-05-25T20:46:31Z
dc.date.issued2008-01
dc.description.abstractThis paper provides a review of the design and experience of risk-based pension fund supervision in several countries that have been leaders in the development of these methods. The utilization of risk-based methods originates primarily in the supervision of banks. In recent years it has increasingly been extended to other types of financial intermediaries including pension funds and insurers. The trend toward risk-based supervision of pensions is closely associated with movement toward the integration of pension supervision with that of banking and other financial services into a single national authority. Although similar in concept to the techniques developed in banking, the application to pension funds has required modifications, particularly for defined contribution funds that transfer investment risk to fund members. The countries examined provide a range of experiences that illustrate both the diversity of pension systems and approaches to risk-based supervision, but also a commonality of the focus on sound risk management and effective supervisory outcomes. The paper provides a description of pension supervision in Australia, Denmark, Mexico and the Netherlands, and an initial evaluation of the results achieved in relation to the underlying objectives.en
dc.identifierhttp://documents.worldbank.org/curated/en/2008/01/8968875/risk-based-supervision-pension-funds-review-international-experience-preliminary-assessment-first-outcomes
dc.identifier.doi10.1596/1813-9450-4491
dc.identifier.urihttps://hdl.handle.net/10986/6474
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4491
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCOUNTING STANDARDS
dc.subjectACCURATE INFORMATION
dc.subjectADVERSE PRICE MOVEMENTS
dc.subjectASSESSMENT OF RISK
dc.subjectASSET ALLOCATION
dc.subjectASSET BASE
dc.subjectASSET CLASS
dc.subjectASSET CLASSES
dc.subjectASSET LIABILITY MATCHING
dc.subjectASSET PRICES
dc.subjectASSET-LIABILITY MANAGEMENT
dc.subjectASSET-LIABILITY MISMATCHES
dc.subjectBALANCE SHEET
dc.subjectBALANCE SHEETS
dc.subjectBANKING SYSTEM
dc.subjectBASIS POINT
dc.subjectBENEFICIARIES
dc.subjectBOND
dc.subjectBOND PORTFOLIO
dc.subjectBUSINESS PLAN
dc.subjectCALCULATION
dc.subjectCALL OPTIONS
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL ALLOCATION
dc.subjectCAPITAL REQUIREMENT
dc.subjectCAPITAL REQUIREMENTS
dc.subjectCENTRAL BANK
dc.subjectCONTRIBUTION
dc.subjectCONTRIBUTION ARRANGEMENTS
dc.subjectCONTRIBUTION SYSTEM
dc.subjectCONTRIBUTIONS
dc.subjectCORPORATE BONDS
dc.subjectCORPORATE GOVERNANCE
dc.subjectCREDIT RISK
dc.subjectCREDIT RISKS
dc.subjectCREDIT STANDING
dc.subjectCRISIS MANAGEMENT
dc.subjectCURRENCY
dc.subjectDEFERRED COMPENSATION
dc.subjectDEPOSITS
dc.subjectDERIVATIVES
dc.subjectDISCLOSURE REQUIREMENTS
dc.subjectDISCOUNT RATE
dc.subjectDIVERSIFICATION
dc.subjectDOMESTIC BONDS
dc.subjectDOMESTIC EQUITIES
dc.subjectDOMESTIC EQUITY
dc.subjectEFFICIENT INVESTMENT
dc.subjectEQUITIES
dc.subjectEQUITY INVESTMENTS
dc.subjectEQUITY MARKET
dc.subjectEQUITY RETURNS
dc.subjectEURO MARKET
dc.subjectFAIR VALUATION
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INDUSTRY
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL POLICY
dc.subjectFINANCIAL POSITION
dc.subjectFINANCIAL RISK
dc.subjectFINANCIAL RISKS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICE
dc.subjectFINANCIAL SERVICE PROVIDERS
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL STATEMENTS
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL SYSTEMS
dc.subjectFIXED INCOME
dc.subjectFIXED INCOME INVESTMENTS
dc.subjectFIXED INCOME PORTFOLIO
dc.subjectFIXED INCOME PORTFOLIOS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN EQUITIES
dc.subjectFOREIGN EQUITY
dc.subjectFUND MANAGERS
dc.subjectFUND PERFORMANCE
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT SECURITIES
dc.subjectHOLDINGS
dc.subjectINCOME INSTRUMENTS
dc.subjectINDIVIDUAL ACCOUNTS
dc.subjectINFORMATION SYSTEMS
dc.subjectINFORMED DECISIONS
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINSURANCE INDUSTRY
dc.subjectINTEREST RATE
dc.subjectINTEREST RATE RISK
dc.subjectINTEREST RATE RISKS
dc.subjectINTEREST RATE SWAPS
dc.subjectINTEREST RATES
dc.subjectINTERNAL AUDITS
dc.subjectINTERNATIONAL BANK
dc.subjectINVESTING
dc.subjectINVESTMENT PATTERNS
dc.subjectINVESTMENT POLICIES
dc.subjectINVESTMENT REGIME
dc.subjectINVESTMENT RISK
dc.subjectINVESTMENT STRATEGIES
dc.subjectLABOR FORCE
dc.subjectLEGAL OBLIGATION
dc.subjectLIABILITY
dc.subjectLIFE INSURANCE
dc.subjectLIFE INSURANCE COMPANIES
dc.subjectLIQUID ASSETS
dc.subjectLIQUIDITY
dc.subjectLONG-TERM INTEREST
dc.subjectLONG-TERM INTEREST RATE
dc.subjectMARGIN REQUIREMENTS
dc.subjectMARKET ANALYSIS
dc.subjectMARKET ANALYSTS
dc.subjectMARKET COMPETITION
dc.subjectMARKET CONDITIONS
dc.subjectMARKET DEVELOPMENT
dc.subjectMARKET DEVELOPMENTS
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET LIQUIDITY
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET RISK
dc.subjectMARKET VALUE
dc.subjectMARKET VALUES
dc.subjectMARKET YIELD
dc.subjectMATURITY
dc.subjectMINIMUM CAPITAL REQUIREMENT
dc.subjectMINIMUM CAPITAL REQUIREMENTS
dc.subjectMORTGAGE
dc.subjectMORTGAGE BONDS
dc.subjectMORTGAGE LOANS
dc.subjectMORTGAGES
dc.subjectOCCUPATIONAL FUNDS
dc.subjectOLDER WORKERS
dc.subjectOTHER ASSETS
dc.subjectPARENT COMPANIES
dc.subjectPENSION
dc.subjectPENSION COMPANIES
dc.subjectPENSION FUND
dc.subjectPENSION FUND SUPERVISION
dc.subjectPENSION FUNDS
dc.subjectPENSION PLAN
dc.subjectPENSION PROVIDERS
dc.subjectPENSION SCHEMES
dc.subjectPENSION SYSTEM
dc.subjectPENSION SYSTEMS
dc.subjectPENSIONERS
dc.subjectPENSIONS
dc.subjectPERFORMANCE MEASUREMENT
dc.subjectPORTFOLIO
dc.subjectPORTFOLIOS
dc.subjectPRIVATE LOANS
dc.subjectPRIVATE PENSION
dc.subjectPRIVATE PENSION FUNDS
dc.subjectPRIVATE PENSION PLANS
dc.subjectPROBABILITY
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT STOCK
dc.subjectPUBLIC SECTOR BONDS
dc.subjectRATE OF RETURN
dc.subjectRATE OF RETURNS
dc.subjectRATES OF RETURN
dc.subjectREAL ESTATE
dc.subjectREGULATORY AUTHORITY
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY STANDARDS
dc.subjectRESPONSIBILITIES
dc.subjectRETIREMENT
dc.subjectRETIREMENT BENEFITS
dc.subjectRETIREMENT INCOME
dc.subjectRETIREMENT SAVINGS
dc.subjectRETURN
dc.subjectRISK ASSESSMENT
dc.subjectRISK ASSESSMENT PROCESS
dc.subjectRISK CAPITAL
dc.subjectRISK CONTROL
dc.subjectRISK CONTROLS
dc.subjectRISK EXPOSURE
dc.subjectRISK EXPOSURES
dc.subjectRISK FACTOR
dc.subjectRISK FACTORS
dc.subjectRISK MANAGEMENT
dc.subjectRISK MANAGEMENT STRATEGIES
dc.subjectRISK MANAGEMENT SYSTEM
dc.subjectRISK MANAGEMENT SYSTEMS
dc.subjectRISK PROFILE
dc.subjectRISK SCORE
dc.subjectRISK SCORES
dc.subjectSENIOR
dc.subjectSMALLER FUNDS
dc.subjectSOCIAL INSURANCE
dc.subjectSOCIAL INSURANCE SYSTEMS
dc.subjectSOLVENCY
dc.subjectSTAKEHOLDERS
dc.subjectSUPERVISION OF BANKS
dc.subjectSUPERVISION OF PENSION FUNDS
dc.subjectSUPERVISORY AGENCIES
dc.subjectSUPERVISORY AGENCY
dc.subjectSUPERVISORY AUTHORITY
dc.subjectSWAP
dc.subjectSWAP CURVE
dc.subjectTAX
dc.subjectTAX LAWS
dc.subjectTRADITIONAL FINANCIAL INSTITUTIONS
dc.subjectTRANSPARENCY
dc.subjectTRUSTEE
dc.subjectTRUSTEES
dc.subjectUSE OF DERIVATIVES
dc.subjectVALUATION
dc.subjectVARIABLE RATE
dc.subjectWITHDRAWAL
dc.subjectYIELD CURVE
dc.titleRisk-Based Supervision of Pension Funds : A Review of International Experience and Preliminary Assessment of the First Outcomesen
dspace.entity.typePublication
okr.crossref.titleRisk-Based Supervision Of Pension Funds: A Review Of International Experience And Preliminary Assessment Of The First Outcomes
okr.date.doiregistration2025-04-10T09:16:02.359606Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2008/01/8968875/risk-based-supervision-pension-funds-review-international-experience-preliminary-assessment-first-outcomes
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid608351468032162796
okr.identifier.doi10.1596/1813-9450-4491
okr.identifier.externaldocumentum000158349_20080128083737
okr.identifier.internaldocumentum8968875
okr.identifier.reportWPS4491
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/01/28/000158349_20080128083737/Rendered/PDF/wps4491.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.administrativeEurope and Central Asia
okr.region.administrativeLatin America & Caribbean
okr.topicInsurance and Risk Mitigation
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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