Supervision : Building Public Confidence in Mandatory Funded Pensions
The regulation and supervision of individual pension accounts has been a neglected issue. In contrast, much has been written on financing the transition to funded pensions and the design of benefits. Yet effective regulation and efficient supervisi...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/01/6265727/supervision-building-public-confidence-mandatory-funded-pensions http://hdl.handle.net/10986/11240 |
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okr-10986-112402021-04-23T14:02:54Z Supervision : Building Public Confidence in Mandatory Funded Pensions Whitehouse, Edward AUDITS AUTHORITY AUTHORIZATION BANKING SYSTEM CAPITAL MARKETS CENTRAL BANKS CORRUPTION ECONOMIES OF SCOPE ENTITLEMENTS EXPENDITURES FINANCIAL AUTONOMY FINANCIAL INSTITUTIONS FINANCIAL REPORTING FINANCIAL REQUIREMENTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FUNDED PENSION SYSTEMS FUNDED PENSIONS GOVERNMENT OFFICIALS GOVERNMENT REVENUES INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL INVESTORS INSURANCE LATIN AMERICAN LEGISLATION LIQUIDATION MINISTRIES OF FINANCE MULTIPILLAR PENSION SCHEMES PENSION FUND PENSION FUNDS PENSION REFORM PENSION SCHEMES PENSION SUPERVISION PENSION SYSTEM PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION SYSTEMS PRIVATE SECTOR REGULATORY POLICIES SAVINGS SECURITIES SOCIAL PROTECTION SOCIAL SECURITY SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY REGIME TAX TRANSPARENCY TREASURY WAGES The regulation and supervision of individual pension accounts has been a neglected issue. In contrast, much has been written on financing the transition to funded pensions and the design of benefits. Yet effective regulation and efficient supervision are crucial to the success of pension reform. This note explores six issues in the design of a supervisory regime. It makes some comparisons between the performances of agencies in different countries and looks at four important areas of supervision : institutional and financial controls, and membership and benefits procedures. Some of the conclusions presented in this note are : professional expertise, transparency and perceived independence of supervisory agencies is essential to the success of pension reform; in countries where existing regulation is weak or ineffective, a new, separate agency is probably best placed (but not certain) to avoid repeating past failures; administrative independence is similarly preferable; salaries must be competitive with the private sector (and remain so) to recruit qualified personnel from public and private sectors and to limit corruption risk; separation of regulation and supervision can help limit the risk of regulatory capture. 2012-08-13T14:32:11Z 2012-08-13T14:32:11Z 2005-01 http://documents.worldbank.org/curated/en/2005/01/6265727/supervision-building-public-confidence-mandatory-funded-pensions http://hdl.handle.net/10986/11240 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 |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
AUDITS AUTHORITY AUTHORIZATION BANKING SYSTEM CAPITAL MARKETS CENTRAL BANKS CORRUPTION ECONOMIES OF SCOPE ENTITLEMENTS EXPENDITURES FINANCIAL AUTONOMY FINANCIAL INSTITUTIONS FINANCIAL REPORTING FINANCIAL REQUIREMENTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FUNDED PENSION SYSTEMS FUNDED PENSIONS GOVERNMENT OFFICIALS GOVERNMENT REVENUES INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL INVESTORS INSURANCE LATIN AMERICAN LEGISLATION LIQUIDATION MINISTRIES OF FINANCE MULTIPILLAR PENSION SCHEMES PENSION FUND PENSION FUNDS PENSION REFORM PENSION SCHEMES PENSION SUPERVISION PENSION SYSTEM PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION SYSTEMS PRIVATE SECTOR REGULATORY POLICIES SAVINGS SECURITIES SOCIAL PROTECTION SOCIAL SECURITY SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY REGIME TAX TRANSPARENCY TREASURY WAGES |
| spellingShingle |
AUDITS AUTHORITY AUTHORIZATION BANKING SYSTEM CAPITAL MARKETS CENTRAL BANKS CORRUPTION ECONOMIES OF SCOPE ENTITLEMENTS EXPENDITURES FINANCIAL AUTONOMY FINANCIAL INSTITUTIONS FINANCIAL REPORTING FINANCIAL REQUIREMENTS FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SYSTEM FUNDED PENSION SYSTEMS FUNDED PENSIONS GOVERNMENT OFFICIALS GOVERNMENT REVENUES INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL INVESTORS INSURANCE LATIN AMERICAN LEGISLATION LIQUIDATION MINISTRIES OF FINANCE MULTIPILLAR PENSION SCHEMES PENSION FUND PENSION FUNDS PENSION REFORM PENSION SCHEMES PENSION SUPERVISION PENSION SYSTEM PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION SYSTEMS PRIVATE SECTOR REGULATORY POLICIES SAVINGS SECURITIES SOCIAL PROTECTION SOCIAL SECURITY SUPERVISORY AGENCIES SUPERVISORY AGENCY SUPERVISORY REGIME TAX TRANSPARENCY TREASURY WAGES Whitehouse, Edward Supervision : Building Public Confidence in Mandatory Funded Pensions |
| relation |
World Bank Pension Reform Primer Series |
| description |
The regulation and supervision of
individual pension accounts has been a neglected issue. In
contrast, much has been written on financing the transition
to funded pensions and the design of benefits. Yet effective
regulation and efficient supervision are crucial to the
success of pension reform. This note explores six issues in
the design of a supervisory regime. It makes some
comparisons between the performances of agencies in
different countries and looks at four important areas of
supervision : institutional and financial controls, and
membership and benefits procedures. Some of the conclusions
presented in this note are : professional expertise,
transparency and perceived independence of supervisory
agencies is essential to the success of pension reform; in
countries where existing regulation is weak or ineffective,
a new, separate agency is probably best placed (but not
certain) to avoid repeating past failures; administrative
independence is similarly preferable; salaries must be
competitive with the private sector (and remain so) to
recruit qualified personnel from public and private sectors
and to limit corruption risk; separation of regulation and
supervision can help limit the risk of regulatory capture. |
| format |
Publications & Research :: Brief |
| author |
Whitehouse, Edward |
| author_facet |
Whitehouse, Edward |
| author_sort |
Whitehouse, Edward |
| title |
Supervision : Building Public Confidence in Mandatory Funded Pensions |
| title_short |
Supervision : Building Public Confidence in Mandatory Funded Pensions |
| title_full |
Supervision : Building Public Confidence in Mandatory Funded Pensions |
| title_fullStr |
Supervision : Building Public Confidence in Mandatory Funded Pensions |
| title_full_unstemmed |
Supervision : Building Public Confidence in Mandatory Funded Pensions |
| title_sort |
supervision : building public confidence in mandatory funded pensions |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/01/6265727/supervision-building-public-confidence-mandatory-funded-pensions http://hdl.handle.net/10986/11240 |
| _version_ |
1764416025037635584 |