Randle, TonyRudolph, Heinz P.2014-04-152014-04-152014-03-18https://hdl.handle.net/10986/17791The main goal of any pension system is to ensure that members receive an adequate pension income when they retire. Whilst traditional defined benefit (DB) pension plans set out what that pension income will be in advance and then strive to deliver it, the growing number of defined contribution (DC) plans accumulates a sum of assets which can then be turned into a pension income on retirement. However, the amount of this retirement income is not set in advance. In the absence of a proper regulatory framework, feature n DC plans leads to a focus by not only 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. The paper is organized as follows: chapter two discusses the origins of risks based supervision and discusses the role of capital in the alignment of incentives in financial institutions. Chapter three discusses the concept of risk based supervision for pension funds, and its limitations in the case of DC pension schemes. Chapter four discusses the effectiveness of RBS schemes in DC systems in emerging economies, and the last section provides some lessons learned.en-USCC BY 3.0 IGOACCESS TO CAPITALACCOUNTINGANNUAL RETURNSASSET ALLOCATIONASSET ALLOCATIONSASSET CLASSASSET MANAGEMENTASSET MANAGERSAVERAGE INTERESTAVERAGE INTEREST RATEBANK DEPOSITSBANK POLICYBANKING INDUSTRYBANKSBASIS POINTSBOND RATESBONDSBOOK ENTRYCAPITAL ADEQUACYCAPITAL MARKETCAPITAL MARKETSCAPITAL REQUIREMENTCAPITAL REQUIREMENTSCENTRAL BANKCENTRAL DEPOSITORYCONSERVATIVE INVESTMENTCONTRIBUTIONCONTRIBUTION RATECONTRIBUTION SCHEMESCONTRIBUTION SYSTEMSCONTRIBUTIONSCORPORATE GOVERNANCECREDITORSCUSTODIAN BANKDEFINED BENEFIT PENSIONDEFINED CONTRIBUTION PENSIONDEFINED CONTRIBUTION PENSIONSDEPOSITDERIVATIVEDERIVATIVE INSTRUMENTSDERIVATIVE PRODUCTSDERIVATIVESEARNINGSELIGIBLE INSTRUMENTSEMERGING ECONOMIESEMERGING MARKETSEQUITIESEQUITY INSTRUMENTSEQUITY MARKETSFINANCIAL EDUCATIONFINANCIAL GROUPSFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL LITERACYFINANCIAL PERFORMANCEFINANCIAL SECTORFINANCIAL STATEMENTSFIXED INCOMEFIXED INCOME PORTFOLIOFRAUDFUND MANAGEMENTFUND MANAGERSFUTURE VALUEGOVERNMENT BONDGOVERNMENT BONDSGOVERNMENT GUARANTEESGOVERNMENT SECURITIESHOLDINGINCOME INSTRUMENTSINFLATIONINFLATION LINKED BONDSINFLATION RATEINFORMATION SYSTEMSINSURANCEINSURANCE COMPANIESINSURANCE PRODUCTSINTEREST RATEINTEREST RATE RISKINTEREST RATESINTERNAL AUDITSINVESTINGINVESTMENT ALTERNATIVESINVESTMENT COMPANIESINVESTMENT COMPANYINVESTMENT DECISIONSINVESTMENT MANAGEMENTINVESTMENT PERFORMANCEINVESTMENT PROCESSINVESTMENT REGULATIONINVESTMENT REGULATIONSINVESTMENT RESTRICTIONSINVESTMENT RETURNSINVESTMENT RISKINVESTMENT RISKSINVESTMENT STRATEGIESINVESTMENT STRATEGYLABOR FORCELEGAL FRAMEWORKLEVEL OF CONTRIBUTIONSLIQUID ASSETSLIQUIDITYLIQUIDITY RISKLONG-TERM GOALLONG-TERM INVESTORSMANDATORY PENSION FUNDSMARGIN REQUIREMENTSMARK-TO-MARKETMARKET DISCIPLINEMARKET FAILUREMARKET FAILURESMARKET OVERSIGHTMARKET PARTICIPANTSMARKET PRACTICESMARKET RISKMARKET SURVEILLANCEMATURITIESMATURITYMINIMUM CAPITAL REQUIREMENTMONETARY POLICYMUTUAL FUNDSNOMINAL YIELDPENSIONPENSION ASSETPENSION ASSETSPENSION AT RETIREMENTPENSION BENEFITSPENSION FUNDPENSION FUND ASSETSPENSION FUND PERFORMANCEPENSION FUNDSPENSION INCOMEPENSION INCOMESPENSION INVESTMENTPENSION PLANPENSION PLANSPENSION PROVIDERSPENSION SCHEMEPENSION SCHEMESPENSION SECTORPENSION SYSTEMPENSION SYSTEMSPENSIONERSPENSIONSPERFORMANCE MEASUREMENTPORTFOLIOPORTFOLIO ALLOCATIONPORTFOLIO ALLOCATIONSPORTFOLIO CHOICEPORTFOLIO PERFORMANCEPORTFOLIOSPORTFOLIOS OF PENSION FUNDSPRIVATE PENSIONPRIVATE PENSION FUNDPRIVATE PENSIONSPROBABILITYPROTECTION OF INVESTORSPRUDENTIAL REGULATIONPRUDENTIAL STANDARDRATE OF INFLATIONRATE OF RETURNRATES OF RETURNRATES OF RETURNSREGULATORY AUTHORITYREGULATORY FRAMEWORKREINVESTMENTREINVESTMENT RISKREPLACEMENT RATEREPLACEMENT RATESRESEARCH ASSISTANCERESERVERESERVE REQUIREMENTRESERVE REQUIREMENTSRESERVESRETIREMENTRETIREMENT AGERETIREMENT INCOMERETURNRETURNSRISK ASSESSMENTRISK BEHAVIORRISK MANAGEMENTRISK MANAGEMENT SYSTEMRISK MANAGEMENT SYSTEMSRISK PROFILERISK PROFILESSECURE PENSIONSECURE PENSIONSSECURITIES TRANSACTIONSSENIORSETTLEMENTSHAREHOLDERSHAREHOLDERSSHORT-TERM INTEREST RATESSOLVENCYSUPERVISION OF PENSION FUNDSSUPERVISORY AGENCIESSUPERVISORY AGENCYSUPERVISORY AUTHORITIESSUPERVISORY AUTHORITYTRADINGTRANSPARENCYTREASURYTREASURY RATESTRUSTEESTYPES OF INVESTMENTSTYPES OF PENSIONUSE OF DERIVATIVESVALUABLEVALUATIONVALUATIONSVALUE OF CONTRIBUTIONSVALUE OF PENSIONSWAGEYIELD CURVEYIELD CURVES10.1596/17791