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Financial sector dimensions of the Colombian pension system / Heinz Rudolph ... [et al.].

Contributor(s): Rudolph, Heinz P | World BankMaterial type: TextTextSeries: World Bank working paper ; no. 106Publication details: Washington, D.C. : World Bank, c2007. Description: ix, 76 p. : ill. ; 26 cmISBN: 9780821371176; 0821371177; 9780821371183 (eISBN); 0821371185 (eISBN)Subject(s): Pensions -- Colombia | Pension trusts -- ColombiaDDC classification: 352.409861 LOC classification: HD7157 | .F563 2007Abstract: This paper provides an assessment of the funded pension system and the quality of the regulatory framework for both accumulation and payout phase. It suggests that the lack of portfolio diversification may contribute in the future to low returns and poor pensions and provides a number of recommendation to expand the opportunities of investments to pension funds. The paper also finds that pension fund administrators are not exploiting the scale economies in certain areas of the business such as collection of revenues and account management, and propose mechanisms to reduce costs and increase efficiency through greater competition. The paper examines the products and options offered at the retirement age and finds a bias toward the payment of pensions in the form of lump sums and suggests alternatives for improving the availability of other instruments. Enhancements in the regulatory framework of insurance companies are also proposed.
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Holdings
Item type Current library Call number Status Notes Date due Barcode
Books Books Bangladesh Public Administration Training Centre Library
General Reading Room
352.409861 WOF 2007 (Browse shelf(Opens below)) Available Zahid WB5673
Books Books Bangladesh Public Administration Training Centre Library
General Reading Room
352.409861 WOF 2007 (Browse shelf(Opens below)) Available Zahid WB5672

Includes bibliographical references (p. 75-76).

This paper provides an assessment of the funded pension system and the quality of the regulatory framework for both accumulation and payout phase. It suggests that the lack of portfolio diversification may contribute in the future to low returns and poor pensions and provides a number of recommendation to expand the opportunities of investments to pension funds. The paper also finds that pension fund administrators are not exploiting the scale economies in certain areas of the business such as collection of revenues and account management, and propose mechanisms to reduce costs and increase efficiency through greater competition. The paper examines the products and options offered at the retirement age and finds a bias toward the payment of pensions in the form of lump sums and suggests alternatives for improving the availability of other instruments. Enhancements in the regulatory framework of insurance companies are also proposed.

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