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...

The adoption of pension funds in the social security policy constitutes an important transformation in the social life; in fact, workers have a pension based on an investment fund and not a pre-determined amount. Investment funds have different degrees of risk, varying their asset composition. In...

High charges for personal pensions were one factor in the personal pensions mis-selling debacle in the United Kingdom. They continued to arouse concern among politicians and commentators. The Labour government, with its new flagship 'stakeholder' pension, chose to regulate both the structure of...