Risk-Based Supervision of Pension Funds : Emerging Practices and Challenges

by Brunner, Greg; Hinz, Richard; Rocha, Roberto

• ISBN13: 9780821374931
• ISBN10: 0821374931
• Format: Paperback
• Copyright: 2008-04-15
• Publisher: World Bank

Summary

Risk-Based Supervision of Pension Funds provides a review of the design and experience of risk-based pension fund supervision in countries that have been leaders in the development of these methods. The utilisation of risk-based methods originates primarily in the supervision of banks. In recent years it has increasingly been extended to other types of financial intermediaries, including pension funds and insurers. The trend toward risk-based supervision of pensions reflects an increasing focus on risk management in both banking and insurance based on three key elements: capital requirements, supervisory review, and market discipline. Although similar in concept to the techniques developed in banking, its application to pension funds has required modifications, particularly for defined contribution funds that transfer investment risk to fund members. The countries examined - Australia, Denmark, Mexico, and the Netherlands - provide a range of experience that illustrates both the diversity of pension systems and the approaches to risk-based supervision, and also presents a commonality of focus on sound risk management and effective supervisory outcomes.

Table of Contents

Risk-Based Supervision of Pensions: The Experience of Early Adopters	p. 1
Risk-Based Supervision of Pension Funds in the Netherlands	p. 51
Risk-Based Supervision of Pension Institutions in Denmark	p. 95
Risk-Based Supervision of Pension Funds in Australia	p. 135
Risk-Based Regulation and Supervision of Pension Funds in Mexico	p. 173
Index	p. 209
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