Australia's superannuation (pension) sector is extraordinarily large by almost any measure. The system is the fourth largest in the world with assets under management exceeding $A2 trillion (€1.3 trillion). Approximately two thirds of the system ($A1.2 trillion) is managed in the large-scale...

We present empirical evidence which suggests that a big increase in dividend taxation for UK pension funds in July 1997 affected the form in which some UK companies chose to make dividend payments, but otherwise had limited effects on both the level of dividend payments and the level of...

While macroprudential policy has mostly focused on the role of banks, we argue that pension funds are also important for financial stability. Drawing on previous research on pension funds, we explain how their actions can have a vital impact on other financial institutions as well as on...