The aim of this study is to analyze investor response to different measures of pension plan performance. To do this, we implement a fixed effects panel data methodology corrected by heteroskedasticity, serial correlation and cross-sectional dependence, as proposed by Vogelsang...

The aim of this study is to analyze investor response to different measures of pension plan performance. To do this, we implement a fixed effects panel data methodology corrected by heteroskedasticity, serial correlation and cross-sectional dependence, as proposed by Vogelsang (2012). The...

We propose a generational plan for the occupational pension provision in which people from the same generation are pooled in a generational fund. Each fund can set its own policies independently. This plan provides the benefits of differentiation missing in the prevailing collective plan and the...

We use a large sample of private sponsors' defined benefit pension plans to document economically significant differences in the magnitude of plan return volatility for private versus publicly-traded sponsors. The main drivers of pension plan risk taking are different for public and private...

This paper investigates the characteristics of US and Canadian pension funds that allocate assets to hedge funds. The typical pension fund that invests in hedge funds is a large sophisticated pension fund that diversifies its portfolio across numerous classes of investments, private equity in...

National pension systems are an important part of financial intermediation and worker welfare in most countries, but how and why do they differ internationally? Controlling for important political, economic and social institutions, we document that international differences in pension...

On 4 August 2011 the Japanese Diet passed an amendment enabling company employees to contribute to corporate defined contribution pension plans. Until then only employers were able to contribute. As a result of the amendment, however, plan participants are able since January 2012 to make their...

National pension systems are an important part of financial intermediation and worker welfare in most countries, but how and why do they differ internationally? Controlling for important political, economic and social institutions, we document that international differences in pension...

A comprehensive financial and superannuation projection model is developed to investigate the impact of the introduction of AASB 119 on employer sponsors of defined benefit superannuation funds. A model Plan is projected forward 25 to 30 years. It is found that closing a plan to new entrants can...