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Record Nr. |
UNINA9910812130503321 |
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Autore |
Impavido Gregorio |
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Titolo |
Efficiency and Performance of Bulgarian Private Pensions / / Gregorio Impavido |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2008 |
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ISBN |
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1-4623-9816-2 |
1-4527-9044-2 |
9786612842191 |
1-282-84219-6 |
1-4518-7126-0 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (107 p.) |
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Collana |
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IMF Working Papers |
IMF working paper ; ; WP/08/268 |
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Disciplina |
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Soggetti |
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Pensions - Bulgaria |
Old age pensions - Bulgaria |
Actuarial Studies |
Asset management |
Asset-liability management |
Finance |
Finance, Public |
Financial Risk Management |
Government asset management |
Governmental Property |
Insurance & actuarial studies |
Insurance Companies |
Insurance |
International Financial Markets |
Labor |
Nonwage Labor Costs and Benefits |
Pension spending |
Pensions |
Private Pensions |
Public finance & taxation |
Public Finance |
Social Security and Public Pensions |
Bulgaria |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Cover Page; Title Page; Copyright Page; Contents; Glossary; I. Introduction; II. Brief Description of the Bulgarian Pension System; 1. Key Features of the Bulgarian Pension System; III. Market Structure; 2. Number of Legal Entities; 3. Direct Shareholding Structure of PICs; 4. Membership Growth and Concentration; 5. Net Assets Growth and Concentration; 6. Annual Contributions Growth and Concentration; 7. Assets of Autonomous Pension Funds in Select OECD and non-OECD Countries; 8. Concentration Indicators-Select Countries; IV. Asset Allocation and Investment Performance; A. Asset Allocation |
1. Asset Allocation in 2006 in Select OECD Countries2. Asset Allocation of Bulgarian Pension Funds, 2004-07; 9. Investment Portfolios of UPFs; 10. Investment Portfolios of PPFs; 11. Investment Portfolios of VPFs; B. Investment Performance; 12. Average Maturity of PICs' Bond Portfolio (March, 2007); 13. Gross Nominal and Real Investment Performance, 2002-2007; 14. International Comparison of Real Rates of Returns; 15. Net Nominal Investment Performance, 2003-2007; C. Price Distortions; 16. Concentration and Market Power-Select Countries; V. Regulatory Framework |
A. Issues in the Accumulation Phase17. Minimum Return Guarantee in Select Countries; 18. Standard Deviation in Portfolio Weights and Returns of PICs; 19. Price Regulation in Select Countries; 3. Forty-year Charge Ratios in Select Countries; 20. Forty-year AUM Equivalent First Floor Fees (Select Countries, Percent); 21. Number of Transfers across Latin American Pension Funds, 2000 - mid-2007; 4. Switches in the Mexican AFORE Market (2006); B. Issues in the Payout Phase; VI. Policy Conclusions; A. The Market; B. Regulation and Supervision |
I. Overview of Second and Third Pillars Institutional ArrangementsII. Detailed Data by Legal Entity; 22. Membership by Legal Entity; 23. Net Assets by Legal Entity; 24. Annual Contributions by Legal Entity; 25. Annual Gross Investment Performance by Legal Entity; 26. Portfolio Allocation by UPFs (2004); 27. Portfolio Allocation by UPFs (2005); 28. Portfolio Allocation by UPFs (2006); 29. Portfolio Allocation by UPFs (2007); 30. Portfolio Allocation by PPFs (2004); 31. Portfolio Allocation by PPFs (2005); 32. Portfolio Allocation by PPFs (2006); 33. Portfolio Allocation by PPFs (2007) |
34. Portfolio Allocation by VPFs (2004)35. Portfolio Allocation by VPFs (2005); 36. Portfolio Allocation by VPFs (2006); 37. Portfolio Allocation by VPFs (2007); 38. Pension Funds Investment Regulation; III. Investment Rules for Pension Funds; IV. Relationship Between Concentration, Market Power and Demand Elasticity; 39. Lerner Indices with No Investment Income; 40. Lerner Indices with Investment Income; VII. References; Footnotes |
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Sommario/riassunto |
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This paper analyzes the performance of the Bulgarian private defined contribution pensions in the second and third pillars of the pension system. |
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