Second Pillars : Provider and Product Selection for Funded Individual Accounts

World Bank

Washington, DC

关键词: ACCUMULATION PERIOD;    ADMINISTRATIVE COSTS;    AFFILIATE;    AGENCY PROBLEMS;    AGENTS;   

RP-ID  :  33374

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

There are many ways to structuremandatory private pension funds that rely on individualaccounts. As in any market there are products and firms thatprovide them. Both are typically circumscribed by thegovernment for public policy reasons. Relevant legislationwill specify the agent responsible for making key choices asto who manages the money and where it is invested. Asdiscussed below, the focus of decision-making in fundedschemes varies widely with potentially importantimplications for the performance of the scheme. In thecontext of mandated private pensions, this note looks atwhat investment and withdrawal products can be offered, whocan offer them, and who chooses from among the alternativesavailable in this market.