Risk-based Supervision of Pension Funds : Emerging Practices and Challenges
Risk-based supervision of pension funds grew out of a project that was jointly conducted by the World Bank and the International Organization of Pension Supervisors (IOPS). The project was initiated in response to the increasing interest in the dev...
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| Format: | Publication |
| Language: | English en_US |
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Washington, DC : World Bank
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2008/01/9484201/risk-based-supervision-pension-funds-emerging-practices-challenges http://hdl.handle.net/10986/6419 |
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okr-10986-6419 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING ACCOUNTING STANDARDS ADVERSE PRICE MOVEMENTS ASSET ALLOCATION ASSET BASE ASSET CLASS ASSET CLASSES ASSET LIABILITY MANAGEMENT ASSET PORTFOLIOS ASSET PRICES ASSET QUALITY ASSET-LIABILITY MANAGEMENT ASSET-LIABILITY MISMATCHES BALANCE SHEET BALANCE SHEETS BANKING SYSTEM BOND PORTFOLIO BUSINESS PLAN CALCULATION CALL OPTIONS CAPITAL ADEQUACY CAPITAL ALLOCATION CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CENTRAL BANK COMPLIANCE · REPORTING CONTRIBUTION CONTRIBUTION SYSTEMS CONTRIBUTIONS CORPORATE GOVERNANCE CREDIT RISK CREDIT RISKS CREDIT STANDING CURRENCY DEFINED-BENEFIT PENSION DEFINED-CONTRIBUTION PENSION DEPOSITS DERIVATIVE DERIVATIVE TRANSACTIONS DERIVATIVES DISCLOSURE REQUIREMENTS DISCOUNT RATE DOMESTIC BONDS DOMESTIC EQUITIES EARNINGS EFFICIENT INVESTMENT EQUITIES EQUITY INVESTMENTS EQUITY MARKET EQUITY RETURNS EURO MARKET FAIR VALUATION FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL RISK FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SERVICES AUTHORITY FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED INCOME FOREIGN CURRENCY FOREIGN EQUITIES FULL-TIME EMPLOYEES FUND MANAGERS GOVERNMENT BOND GOVERNMENT BOND YIELDS GOVERNMENT BONDS GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDINGS INCOME INSTRUMENTS INDIVIDUAL ACCOUNTS INFORMATION SYSTEM INFORMATION SYSTEMS INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTEREST RATE RISK INTEREST RATE RISKS INTEREST RATE SWAPS INTEREST RATES INTERNAL AUDITS INTERNATIONAL BANK INTERNATIONAL SETTLEMENTS INVESTMENT PATTERNS INVESTMENT PERFORMANCE INVESTMENT POLICIES INVESTMENT REGIME INVESTMENT REGULATION INVESTMENT RETURNS INVESTMENT RISK INVESTMENT STRATEGIES LABOR FORCE LABOR MARKET LEGAL OBLIGATION LIABILITY LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUID ASSETS LIQUIDITY LONG-TERM INTEREST LONG-TERM INTEREST RATE MARGIN REQUIREMENTS MARKET ANALYSTS MARKET CONDITIONS MARKET DEVELOPMENTS MARKET DISCIPLINE MARKET LIQUIDITY MARKET PARTICIPANTS MARKET RISK MARKET VALUE MARKET VALUES MARKET YIELD MATURITY MINIMUM CAPITAL REQUIREMENT MINIMUM CAPITAL REQUIREMENTS MORTGAGE MORTGAGE BONDS MORTGAGE LOANS MORTGAGES OCCUPATIONAL FUNDS OTHER ASSETS PENSION PENSION ASSETS PENSION COMPANIES PENSION CONTRIBUTIONS PENSION FUND PENSION FUND ADMINISTRATORS PENSION FUND ASSET PENSION FUND SUPERVISION PENSION FUNDS PENSION PLAN PENSION PLANS PENSION POLICY PENSION PROVIDERS PENSION SCHEMES PENSION SECTORS PENSION SYSTEM PENSION SYSTEMS PENSIONERS PENSIONS PORTFOLIO PORTFOLIO VALUATION PORTFOLIOS PRIVATE LOANS PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION PLANS PROBABILITY PRUDENTIAL REGULATION PUBLIC DEBT RATE OF RETURN REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY STANDARDS REGULATORY STRUCTURE RESEARCH ASSISTANCE RESPONSIBILITIES RETIREMENT RETIREMENT INCOME RETIREMENT SAVINGS RETURN RETURNS RISK ASSESSMENT RISK ASSESSMENT PROCESS RISK CAPITAL RISK CONTROL RISK CONTROLS RISK EXPOSURE RISK EXPOSURES RISK FACTOR RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT STRATEGIES RISK MANAGEMENT SYSTEM RISK MANAGEMENT SYSTEMS RISK PROFILE RISK SCORES SENIOR SMALLER FUNDS SOCIAL INSURANCE SOCIAL INSURANCE SYSTEMS SOLVENCY SPECIAL SAVINGS STAKEHOLDERS SUPERVISION OF BANKS SUPERVISION OF PENSION FUND SUPERVISION OF PENSION FUNDS SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITY SWAP SWAP CURVE TAX TAX LAWS TRADITIONAL FINANCIAL INSTITUTIONS TRANSPARENCY USE OF DERIVATIVES VALUABLE VALUATION WITHDRAWAL YIELD CURVE |
| spellingShingle |
ACCOUNTING ACCOUNTING STANDARDS ADVERSE PRICE MOVEMENTS ASSET ALLOCATION ASSET BASE ASSET CLASS ASSET CLASSES ASSET LIABILITY MANAGEMENT ASSET PORTFOLIOS ASSET PRICES ASSET QUALITY ASSET-LIABILITY MANAGEMENT ASSET-LIABILITY MISMATCHES BALANCE SHEET BALANCE SHEETS BANKING SYSTEM BOND PORTFOLIO BUSINESS PLAN CALCULATION CALL OPTIONS CAPITAL ADEQUACY CAPITAL ALLOCATION CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CENTRAL BANK COMPLIANCE · REPORTING CONTRIBUTION CONTRIBUTION SYSTEMS CONTRIBUTIONS CORPORATE GOVERNANCE CREDIT RISK CREDIT RISKS CREDIT STANDING CURRENCY DEFINED-BENEFIT PENSION DEFINED-CONTRIBUTION PENSION DEPOSITS DERIVATIVE DERIVATIVE TRANSACTIONS DERIVATIVES DISCLOSURE REQUIREMENTS DISCOUNT RATE DOMESTIC BONDS DOMESTIC EQUITIES EARNINGS EFFICIENT INVESTMENT EQUITIES EQUITY INVESTMENTS EQUITY MARKET EQUITY RETURNS EURO MARKET FAIR VALUATION FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL RISK FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SERVICES AUTHORITY FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED INCOME FOREIGN CURRENCY FOREIGN EQUITIES FULL-TIME EMPLOYEES FUND MANAGERS GOVERNMENT BOND GOVERNMENT BOND YIELDS GOVERNMENT BONDS GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDINGS INCOME INSTRUMENTS INDIVIDUAL ACCOUNTS INFORMATION SYSTEM INFORMATION SYSTEMS INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTEREST RATE RISK INTEREST RATE RISKS INTEREST RATE SWAPS INTEREST RATES INTERNAL AUDITS INTERNATIONAL BANK INTERNATIONAL SETTLEMENTS INVESTMENT PATTERNS INVESTMENT PERFORMANCE INVESTMENT POLICIES INVESTMENT REGIME INVESTMENT REGULATION INVESTMENT RETURNS INVESTMENT RISK INVESTMENT STRATEGIES LABOR FORCE LABOR MARKET LEGAL OBLIGATION LIABILITY LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUID ASSETS LIQUIDITY LONG-TERM INTEREST LONG-TERM INTEREST RATE MARGIN REQUIREMENTS MARKET ANALYSTS MARKET CONDITIONS MARKET DEVELOPMENTS MARKET DISCIPLINE MARKET LIQUIDITY MARKET PARTICIPANTS MARKET RISK MARKET VALUE MARKET VALUES MARKET YIELD MATURITY MINIMUM CAPITAL REQUIREMENT MINIMUM CAPITAL REQUIREMENTS MORTGAGE MORTGAGE BONDS MORTGAGE LOANS MORTGAGES OCCUPATIONAL FUNDS OTHER ASSETS PENSION PENSION ASSETS PENSION COMPANIES PENSION CONTRIBUTIONS PENSION FUND PENSION FUND ADMINISTRATORS PENSION FUND ASSET PENSION FUND SUPERVISION PENSION FUNDS PENSION PLAN PENSION PLANS PENSION POLICY PENSION PROVIDERS PENSION SCHEMES PENSION SECTORS PENSION SYSTEM PENSION SYSTEMS PENSIONERS PENSIONS PORTFOLIO PORTFOLIO VALUATION PORTFOLIOS PRIVATE LOANS PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION PLANS PROBABILITY PRUDENTIAL REGULATION PUBLIC DEBT RATE OF RETURN REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY STANDARDS REGULATORY STRUCTURE RESEARCH ASSISTANCE RESPONSIBILITIES RETIREMENT RETIREMENT INCOME RETIREMENT SAVINGS RETURN RETURNS RISK ASSESSMENT RISK ASSESSMENT PROCESS RISK CAPITAL RISK CONTROL RISK CONTROLS RISK EXPOSURE RISK EXPOSURES RISK FACTOR RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT STRATEGIES RISK MANAGEMENT SYSTEM RISK MANAGEMENT SYSTEMS RISK PROFILE RISK SCORES SENIOR SMALLER FUNDS SOCIAL INSURANCE SOCIAL INSURANCE SYSTEMS SOLVENCY SPECIAL SAVINGS STAKEHOLDERS SUPERVISION OF BANKS SUPERVISION OF PENSION FUND SUPERVISION OF PENSION FUNDS SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITY SWAP SWAP CURVE TAX TAX LAWS TRADITIONAL FINANCIAL INSTITUTIONS TRANSPARENCY USE OF DERIVATIVES VALUABLE VALUATION WITHDRAWAL YIELD CURVE Brunner, Greg Hinz, Richard Rocha, Roberto Risk-based Supervision of Pension Funds : Emerging Practices and Challenges |
| geographic_facet |
Netherlands Denmark Australia Mexico |
| relation |
Directions in development;finance |
| description |
Risk-based supervision of pension funds
grew out of a project that was jointly conducted by the
World Bank and the International Organization of Pension
Supervisors (IOPS). The project was initiated in response to
the increasing interest in the development of innovative
approaches to pension supervision from the member countries
of both institutions. The volume provides an initial
assessment of the development of risk-based supervision of
pension funds in four countries that have been pioneering
the development of risk-based supervision methods in various
forms. The volume is comprised of a summary chapter and
in-depth studies of the experience in four individual
countries-Australia, Denmark, Mexico, and Netherlands. These
four country studies were prepared by experts familiar with
the systems in each of the countries. The studies have been
edited by World Bank staff to ensure a consistent approach
to the analysis of the various countries' systems.
Models of risk-based supervision demonstrate the benefits of
moving away from an approach based on strict compliance,
specific rules, and quantitative controls toward an approach
that puts more emphasis on the identification and management
of relevant risks. A risk-based approach encourages
supervised entities to place a greater focus on risk
management in their daily operations, which promotes a
stronger pension system and more effective outcomes for the
members of the system. It is also expected that moving to a
risk-based approach to supervision will enhance the ability
of supervisors to focus resources on areas of highest risk,
which will, over time, result in a more efficient use of
supervisory resources. |
| format |
Publications & Research :: Publication |
| author |
Brunner, Greg Hinz, Richard Rocha, Roberto |
| author_facet |
Brunner, Greg Hinz, Richard Rocha, Roberto |
| author_sort |
Brunner, Greg |
| title |
Risk-based Supervision of Pension Funds : Emerging Practices and Challenges |
| title_short |
Risk-based Supervision of Pension Funds : Emerging Practices and Challenges |
| title_full |
Risk-based Supervision of Pension Funds : Emerging Practices and Challenges |
| title_fullStr |
Risk-based Supervision of Pension Funds : Emerging Practices and Challenges |
| title_full_unstemmed |
Risk-based Supervision of Pension Funds : Emerging Practices and Challenges |
| title_sort |
risk-based supervision of pension funds : emerging practices and challenges |
| publisher |
Washington, DC : World Bank |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2008/01/9484201/risk-based-supervision-pension-funds-emerging-practices-challenges http://hdl.handle.net/10986/6419 |
| _version_ |
1764397780730642432 |
| spelling |
okr-10986-64192021-04-23T14:02:25Z Risk-based Supervision of Pension Funds : Emerging Practices and Challenges Brunner, Greg Hinz, Richard Rocha, Roberto ACCOUNTING ACCOUNTING STANDARDS ADVERSE PRICE MOVEMENTS ASSET ALLOCATION ASSET BASE ASSET CLASS ASSET CLASSES ASSET LIABILITY MANAGEMENT ASSET PORTFOLIOS ASSET PRICES ASSET QUALITY ASSET-LIABILITY MANAGEMENT ASSET-LIABILITY MISMATCHES BALANCE SHEET BALANCE SHEETS BANKING SYSTEM BOND PORTFOLIO BUSINESS PLAN CALCULATION CALL OPTIONS CAPITAL ADEQUACY CAPITAL ALLOCATION CAPITAL REQUIREMENT CAPITAL REQUIREMENTS CENTRAL BANK COMPLIANCE · REPORTING CONTRIBUTION CONTRIBUTION SYSTEMS CONTRIBUTIONS CORPORATE GOVERNANCE CREDIT RISK CREDIT RISKS CREDIT STANDING CURRENCY DEFINED-BENEFIT PENSION DEFINED-CONTRIBUTION PENSION DEPOSITS DERIVATIVE DERIVATIVE TRANSACTIONS DERIVATIVES DISCLOSURE REQUIREMENTS DISCOUNT RATE DOMESTIC BONDS DOMESTIC EQUITIES EARNINGS EFFICIENT INVESTMENT EQUITIES EQUITY INVESTMENTS EQUITY MARKET EQUITY RETURNS EURO MARKET FAIR VALUATION FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL INTERMEDIARIES FINANCIAL MARKETS FINANCIAL RISK FINANCIAL RISKS FINANCIAL SECTOR FINANCIAL SERVICE FINANCIAL SERVICES FINANCIAL SERVICES AUTHORITY FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FIXED INCOME FOREIGN CURRENCY FOREIGN EQUITIES FULL-TIME EMPLOYEES FUND MANAGERS GOVERNMENT BOND GOVERNMENT BOND YIELDS GOVERNMENT BONDS GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT HOLDINGS INCOME INSTRUMENTS INDIVIDUAL ACCOUNTS INFORMATION SYSTEM INFORMATION SYSTEMS INSURANCE INSURANCE COMPANIES INSURANCE INDUSTRY INTEREST RATE INTEREST RATE RISK INTEREST RATE RISKS INTEREST RATE SWAPS INTEREST RATES INTERNAL AUDITS INTERNATIONAL BANK INTERNATIONAL SETTLEMENTS INVESTMENT PATTERNS INVESTMENT PERFORMANCE INVESTMENT POLICIES INVESTMENT REGIME INVESTMENT REGULATION INVESTMENT RETURNS INVESTMENT RISK INVESTMENT STRATEGIES LABOR FORCE LABOR MARKET LEGAL OBLIGATION LIABILITY LIFE EXPECTANCY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUID ASSETS LIQUIDITY LONG-TERM INTEREST LONG-TERM INTEREST RATE MARGIN REQUIREMENTS MARKET ANALYSTS MARKET CONDITIONS MARKET DEVELOPMENTS MARKET DISCIPLINE MARKET LIQUIDITY MARKET PARTICIPANTS MARKET RISK MARKET VALUE MARKET VALUES MARKET YIELD MATURITY MINIMUM CAPITAL REQUIREMENT MINIMUM CAPITAL REQUIREMENTS MORTGAGE MORTGAGE BONDS MORTGAGE LOANS MORTGAGES OCCUPATIONAL FUNDS OTHER ASSETS PENSION PENSION ASSETS PENSION COMPANIES PENSION CONTRIBUTIONS PENSION FUND PENSION FUND ADMINISTRATORS PENSION FUND ASSET PENSION FUND SUPERVISION PENSION FUNDS PENSION PLAN PENSION PLANS PENSION POLICY PENSION PROVIDERS PENSION SCHEMES PENSION SECTORS PENSION SYSTEM PENSION SYSTEMS PENSIONERS PENSIONS PORTFOLIO PORTFOLIO VALUATION PORTFOLIOS PRIVATE LOANS PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION PLANS PROBABILITY PRUDENTIAL REGULATION PUBLIC DEBT RATE OF RETURN REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY STANDARDS REGULATORY STRUCTURE RESEARCH ASSISTANCE RESPONSIBILITIES RETIREMENT RETIREMENT INCOME RETIREMENT SAVINGS RETURN RETURNS RISK ASSESSMENT RISK ASSESSMENT PROCESS RISK CAPITAL RISK CONTROL RISK CONTROLS RISK EXPOSURE RISK EXPOSURES RISK FACTOR RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT STRATEGIES RISK MANAGEMENT SYSTEM RISK MANAGEMENT SYSTEMS RISK PROFILE RISK SCORES SENIOR SMALLER FUNDS SOCIAL INSURANCE SOCIAL INSURANCE SYSTEMS SOLVENCY SPECIAL SAVINGS STAKEHOLDERS SUPERVISION OF BANKS SUPERVISION OF PENSION FUND SUPERVISION OF PENSION FUNDS SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY AUTHORITY SWAP SWAP CURVE TAX TAX LAWS TRADITIONAL FINANCIAL INSTITUTIONS TRANSPARENCY USE OF DERIVATIVES VALUABLE VALUATION WITHDRAWAL YIELD CURVE Risk-based supervision of pension funds grew out of a project that was jointly conducted by the World Bank and the International Organization of Pension Supervisors (IOPS). The project was initiated in response to the increasing interest in the development of innovative approaches to pension supervision from the member countries of both institutions. The volume provides an initial assessment of the development of risk-based supervision of pension funds in four countries that have been pioneering the development of risk-based supervision methods in various forms. The volume is comprised of a summary chapter and in-depth studies of the experience in four individual countries-Australia, Denmark, Mexico, and Netherlands. These four country studies were prepared by experts familiar with the systems in each of the countries. The studies have been edited by World Bank staff to ensure a consistent approach to the analysis of the various countries' systems. Models of risk-based supervision demonstrate the benefits of moving away from an approach based on strict compliance, specific rules, and quantitative controls toward an approach that puts more emphasis on the identification and management of relevant risks. A risk-based approach encourages supervised entities to place a greater focus on risk management in their daily operations, which promotes a stronger pension system and more effective outcomes for the members of the system. It is also expected that moving to a risk-based approach to supervision will enhance the ability of supervisors to focus resources on areas of highest risk, which will, over time, result in a more efficient use of supervisory resources. 2012-05-25T14:56:18Z 2012-05-25T14:56:18Z 2008 http://documents.worldbank.org/curated/en/2008/01/9484201/risk-based-supervision-pension-funds-emerging-practices-challenges 978-0-8213-7493-1 http://hdl.handle.net/10986/6419 English en_US Directions in development;finance CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC : World Bank Publications & Research :: Publication Publications & Research :: Publication Netherlands Denmark Australia Mexico |