People are getting older. The dramatic shifts in demographics coupled with budgetary constraints have, over the past 15 years, forced national authorities to overhaul arrangements for meeting their future pension liabilities – first in Europe and now in Asia.
Yet many systems remain under-funded and unreformed, and all face looming liabilities as populations age and the ratio of workers to retirees shrinks.
This new book, from Risk Books, through a series of case-studies, will explore these challenges, as well as the opportunities for investment their mandates allow.
While state pension funds share many qualities of their private-sector counterparts and asset managers in the public sector, they face a unique set of challenges derived from their funding, governance and liability arrangements.
This book recognises the professionalism and emerging identity of the state pension funds as a sector and drawing on global best practice it places this in an Asian context.
It provides a benchmark for good practice in an important and dynamic sector about which, to date, there have been relatively few targeted publications.
Individual chapters focus on: Asia’s demographic challenge, China’s pension system, governance and risk management, establishing benchmarks, the challenges faced by the Asia’s developed pension sectors, the use of external managers and the opportunity and risk of alternative assets.
Authors include: Alan Brown, Professor Mukal Asher, Stuart Leckie, Carl Redondo, Naomi Denning, Hiroshi Yamabana, Douglas Robertson and Professor Jennifer Wang.
- Publish date
- 1 Oct 2009
- 155mm x 235mm
Table of contents
PART I INTRODUCTION
1 The Building Blocks of a Robust Pension System
Alan Brown, Alastair Baker
Schroder Investment Management Limited
2 State Pensions: A Survey
PART II ASIA OVERVIEW
3 Asia’s Demographic Challenge
National Chengchi University
4 Governance and Regulation of Provident and Pension Funds in Selected Asian Countries
Mukul G. Asher
National University of Singapore
5 Social Security Pensions in Asia: A Summary of Key Challenges
International Labour Organization
PART III CASE STUDIES
6 China’s Pension System
Stirling Finance Limited
7 Reforming the Japanese Pension System
Institute of Economic Research, Hitotsubashi University
8 Strategic Asset Allocation: France’s Fonds de Reserve pour les Retraites Response to the Crisis of 2008–9
9 How Sweden’s AP1 Selects and Monitors External Managers
PART IV RISK MANAGEMENT AND GOVERNANCE
10 Alternative Assets and Public Pension Plan Performance
Douglas Robertson and Ellen Wielezynski
Office of the Comptroller of the Currency
11 Investment Governance and How It Impacts on Investment Results
Watson Wyatt Worldwide