04822nam 2200673 450 991046424930332120170815101930.01-4623-9816-21-4527-9044-297866128421911-282-84219-61-4518-7126-0(CKB)3170000000055158(EBL)1608094(SSID)ssj0000944021(PQKBManifestationID)11501264(PQKBTitleCode)TC0000944021(PQKBWorkID)10982356(PQKB)10021293(OCoLC)762153954(MiAaPQ)EBC1608094(EXLCZ)99317000000005515820140227h20082008 uy 0engur|n|---|||||txtccrEfficiency and performance of Bulgarian private pensions /Gregorio Impavido ; authorized for distribution by Ceyla Pazarbasioglu[Washington, District of Columbia] :International Monetary Fund,2008.©20081 online resource (107 p.)IMF Working PapersIMF working paper ;WP/08/268Description based upon print version of record.1-4519-1579-9 Includes bibliographical references.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 Allocation1. 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 FrameworkA. 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 SupervisionI. 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; FootnotesThis paper analyzes the performance of the Bulgarian private defined contribution pensions in the second and third pillars of the pension system.IMF Working PapersPensionsBulgariaOld age pensionsBulgariaElectronic books.PensionsOld age pensions331.25Impavido Gregorio883152Pazarbaşioğlu Ceyla883153MiAaPQMiAaPQMiAaPQBOOK9910464249303321Efficiency and performance of Bulgarian private pensions1972794UNINA