Public Management

This Note on public management of pension funds concludes that publicly-managed pension reserves are often used to finance non-pension policy. Public pension fund managers tend to invest based on objectives unrelated to pension provision. These inc...

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Main Author:	World Bank
Format:	Brief
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCOUNTABILITY BANK DEPOSITS BANKING SYSTEM CAPITA GROWTH CAPITAL MARKETS COLONIES CONTRIBUTION RATE CORPORATE GOVERNANCE CORRUPTION DEFICITS DEFINED BENEFIT SCHEMES ECONOMIC GROWTH FOREIGN ASSETS FUTURE PENSIONS GOOD GOVERNANCE GOVERNMENT BORROWING GROSS RETURNS HOUSING HUMAN DEVELOPMENT HUMAN DEVELOPMENT NETWORK INCOME INDIVIDUAL ACCOUNTS INTEREST RATES INTERGENERATIONAL TRANSFERS INVESTMENT CHOICES INVESTMENT OPTIONS INVESTMENT PERFORMANCE INVESTMENT RETURNS JUDICIARY LACK OF ACCOUNTABILITY LACK OF TRANSPARENCY MANDATES MANDATORY SCHEMES MIDDLE EAST MONOPOLIES PENSION FUND PENSION FUND MANAGERS PENSION FUNDS PENSION OBLIGATIONS PENSION REFORM PENSION REFORMS PENSION RESERVES PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS POLITICIANS POOR GOVERNANCE PRIVATE MANAGEMENT PRIVATE PENSION PRIVATE PENSION FUNDS PROPERTY RIGHTS PROVIDENT FUNDS PUBLIC AUTHORITIES PUBLIC MANAGEMENT PUBLIC POLICY PUBLIC SECTOR REAL TERMS REPLACEMENT RATE REPLACEMENT RATES REPRESENTATIVES RETIREMENT RETIREMENT SAVINGS SECURITIES SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY STATE ENTERPRISE STATE ENTERPRISES TAX TREATMENT TAXATION TRANSPARENCY WAGES
Online Access:	http://documents.worldbank.org/curated/en/2000/01/6247371/public-management http://hdl.handle.net/10986/11443

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spelling	okr-10986-114432021-04-23T14:02:55Z Public Management World Bank ACCOUNTABILITY BANK DEPOSITS BANKING SYSTEM CAPITA GROWTH CAPITAL MARKETS COLONIES CONTRIBUTION RATE CORPORATE GOVERNANCE CORRUPTION DEFICITS DEFINED BENEFIT SCHEMES ECONOMIC GROWTH FOREIGN ASSETS FUTURE PENSIONS GOOD GOVERNANCE GOVERNMENT BORROWING GROSS RETURNS HOUSING HUMAN DEVELOPMENT HUMAN DEVELOPMENT NETWORK INCOME INDIVIDUAL ACCOUNTS INTEREST RATES INTERGENERATIONAL TRANSFERS INVESTMENT CHOICES INVESTMENT OPTIONS INVESTMENT PERFORMANCE INVESTMENT RETURNS JUDICIARY LACK OF ACCOUNTABILITY LACK OF TRANSPARENCY MANDATES MANDATORY SCHEMES MIDDLE EAST MONOPOLIES PENSION FUND PENSION FUND MANAGERS PENSION FUNDS PENSION OBLIGATIONS PENSION REFORM PENSION REFORMS PENSION RESERVES PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS POLITICIANS POOR GOVERNANCE PRIVATE MANAGEMENT PRIVATE PENSION PRIVATE PENSION FUNDS PROPERTY RIGHTS PROVIDENT FUNDS PUBLIC AUTHORITIES PUBLIC MANAGEMENT PUBLIC POLICY PUBLIC SECTOR REAL TERMS REPLACEMENT RATE REPLACEMENT RATES REPRESENTATIVES RETIREMENT RETIREMENT SAVINGS SECURITIES SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY STATE ENTERPRISE STATE ENTERPRISES TAX TREATMENT TAXATION TRANSPARENCY WAGES This Note on public management of pension funds concludes that publicly-managed pension reserves are often used to finance non-pension policy. Public pension fund managers tend to invest based on objectives unrelated to pension provision. These include social and economically target investments such as housing. Often governments look to pension reserves as a convenient and cheap way to finance deficits. One result is that public management produces poor returns relative to what could potentially be earned. Any pre-funding of long term pension obligations requires some minimal level of good governance. Although good governments perform better, public management produces inferior returns across all countries. As a result members of the scheme have to pay higher contributions or receive lower benefits. The evidence suggests that public management of pension reserves should generally be avoided. 2012-08-13T15:05:08Z 2012-08-13T15:05:08Z 2000-01 http://documents.worldbank.org/curated/en/2000/01/6247371/public-management http://hdl.handle.net/10986/11443 English World Bank Pension Reform Primer Series CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research Africa Cameroon
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCOUNTABILITY BANK DEPOSITS BANKING SYSTEM CAPITA GROWTH CAPITAL MARKETS COLONIES CONTRIBUTION RATE CORPORATE GOVERNANCE CORRUPTION DEFICITS DEFINED BENEFIT SCHEMES ECONOMIC GROWTH FOREIGN ASSETS FUTURE PENSIONS GOOD GOVERNANCE GOVERNMENT BORROWING GROSS RETURNS HOUSING HUMAN DEVELOPMENT HUMAN DEVELOPMENT NETWORK INCOME INDIVIDUAL ACCOUNTS INTEREST RATES INTERGENERATIONAL TRANSFERS INVESTMENT CHOICES INVESTMENT OPTIONS INVESTMENT PERFORMANCE INVESTMENT RETURNS JUDICIARY LACK OF ACCOUNTABILITY LACK OF TRANSPARENCY MANDATES MANDATORY SCHEMES MIDDLE EAST MONOPOLIES PENSION FUND PENSION FUND MANAGERS PENSION FUNDS PENSION OBLIGATIONS PENSION REFORM PENSION REFORMS PENSION RESERVES PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS POLITICIANS POOR GOVERNANCE PRIVATE MANAGEMENT PRIVATE PENSION PRIVATE PENSION FUNDS PROPERTY RIGHTS PROVIDENT FUNDS PUBLIC AUTHORITIES PUBLIC MANAGEMENT PUBLIC POLICY PUBLIC SECTOR REAL TERMS REPLACEMENT RATE REPLACEMENT RATES REPRESENTATIVES RETIREMENT RETIREMENT SAVINGS SECURITIES SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY STATE ENTERPRISE STATE ENTERPRISES TAX TREATMENT TAXATION TRANSPARENCY WAGES
spellingShingle	ACCOUNTABILITY BANK DEPOSITS BANKING SYSTEM CAPITA GROWTH CAPITAL MARKETS COLONIES CONTRIBUTION RATE CORPORATE GOVERNANCE CORRUPTION DEFICITS DEFINED BENEFIT SCHEMES ECONOMIC GROWTH FOREIGN ASSETS FUTURE PENSIONS GOOD GOVERNANCE GOVERNMENT BORROWING GROSS RETURNS HOUSING HUMAN DEVELOPMENT HUMAN DEVELOPMENT NETWORK INCOME INDIVIDUAL ACCOUNTS INTEREST RATES INTERGENERATIONAL TRANSFERS INVESTMENT CHOICES INVESTMENT OPTIONS INVESTMENT PERFORMANCE INVESTMENT RETURNS JUDICIARY LACK OF ACCOUNTABILITY LACK OF TRANSPARENCY MANDATES MANDATORY SCHEMES MIDDLE EAST MONOPOLIES PENSION FUND PENSION FUND MANAGERS PENSION FUNDS PENSION OBLIGATIONS PENSION REFORM PENSION REFORMS PENSION RESERVES PENSION SCHEMES PENSION SYSTEM PENSION SYSTEMS POLITICIANS POOR GOVERNANCE PRIVATE MANAGEMENT PRIVATE PENSION PRIVATE PENSION FUNDS PROPERTY RIGHTS PROVIDENT FUNDS PUBLIC AUTHORITIES PUBLIC MANAGEMENT PUBLIC POLICY PUBLIC SECTOR REAL TERMS REPLACEMENT RATE REPLACEMENT RATES REPRESENTATIVES RETIREMENT RETIREMENT SAVINGS SECURITIES SOCIAL INSURANCE SOCIAL PROTECTION SOCIAL SECURITY STATE ENTERPRISE STATE ENTERPRISES TAX TREATMENT TAXATION TRANSPARENCY WAGES World Bank Public Management
geographic_facet	Africa Cameroon
relation	World Bank Pension Reform Primer Series
description	This Note on public management of pension funds concludes that publicly-managed pension reserves are often used to finance non-pension policy. Public pension fund managers tend to invest based on objectives unrelated to pension provision. These include social and economically target investments such as housing. Often governments look to pension reserves as a convenient and cheap way to finance deficits. One result is that public management produces poor returns relative to what could potentially be earned. Any pre-funding of long term pension obligations requires some minimal level of good governance. Although good governments perform better, public management produces inferior returns across all countries. As a result members of the scheme have to pay higher contributions or receive lower benefits. The evidence suggests that public management of pension reserves should generally be avoided.
format	Publications & Research :: Brief
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Public Management
title_short	Public Management
title_full	Public Management
title_fullStr	Public Management
title_full_unstemmed	Public Management
title_sort	public management
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2000/01/6247371/public-management http://hdl.handle.net/10986/11443
_version_	1764416750484455424

Public Management

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