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Effectiveness of Pension Saving Management: Theoretical and Empirical Aspects
https://doi.org/10.32609/0042-8736-2015-7-26-44
Abstract
The paper analyzes the impact of regulation and supervision on the effectiveness of investment of pension savings based on international practice. It examines the factors which can potentially affect the real return of pension portfolios in different countries. The authors study the impact of more liberal investment limits on the composition and structure of pension investment portfolio, as well as anti-inflationary policy, on raising the real return. They also examine the factors which predict the degree of severity of asset allocation requirements for pension portfolios in different countries, and estimate the likelihood of their relaxing for Russian pension funds and managing companies.
Keywords
pension savings,
real return,
private pension funds,
intelligent investor,
sovereign pension funds,
asset allocation
JEL: D14, G11, G15, G23, G28, H55, J32
About the Authors
A. Abramov
Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia)
Russian Federation
Russian Federation
A. Radygin
Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia); Gaidar Institute for Economic Policy (Moscow, Russia)
Russian Federation
Russian Federation
M. Chernova
Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia)
Russian Federation
Russian Federation
K. Akshentseva
Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia)
Russian Federation
Russian Federation
References
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Review
For citations:
Abramov A., Radygin A., Chernova M., Akshentseva K. Effectiveness of Pension Saving Management: Theoretical and Empirical Aspects. Voprosy Ekonomiki. 2015;(7):26-44. (In Russ.) https://doi.org/10.32609/0042-8736-2015-7-26-44
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