- Pension fund
A pension fund is a pool of assets forming an independent legal entity that are bought with the contributions to a
pensionplan for the exclusive purpose of financing pension plan benefits.
Pension funds are important shareholders of listed and private companies. They are especially important to the stock market where large
institutional investors like the Ontario Teachers' Pension Plandominate. The largest 300 pension funds collectively hold about $6 trillion in assets. [ [http://www.watsonwyatt.com/europe/pubs/globalinvestment/render2.asp?id=12170 Global Investment Review ] ] In January 2008, " The Economist" reported that Morgan Stanleyestimates that pension funds world-wide hold over US$20 trillion in assets, the largest for any category of investor ahead of mutual funds, insurance companies, currency reserves, sovereign wealth funds, hedge funds, or private equity. ["The Economist" Jan 17, 2008 ( [http://www.economist.com/finance/displaystory.cfm?story_id=10533428 economist.com)] ]
Open vs. closed pension funds
Open pension funds support at least one pension plan with no restriction on membership while closed pension funds support only pension plans that are limited to certain employees. [ [http://www.oecd.org/dataoecd/0/49/38356329.pdf OECD] ]
Closed pension funds are further subclassified into:
*"Single employer pension funds"
*"Multi-employer pension funds"
*"Related member pension funds"
*"Individual pension funds"
Public vs. private pension funds
A public pension fund is one that is regulated under public sector law while a private pension fund is regulated under private sector law. In certain countries the distinction between public or government pension funds and private pension funds may be difficult to assess.
Caisse de dépôt et placement du Québec
Canada Pension Plan
Alberta Investment Management
Ontario Teachers' Pension Plan(union-controlled)
Hospitals of Ontario Pension Plan(HOOPP)
OMERS Administration Corporation(OMERS)
Chile pension system The Netherlands
Stichting Pensioenfonds ABP(ABP)
Stichting Pensioenfonds Zorg en Welzijn(PFZW, formerly PGGM) Singapore
Central Provident Fund United States
California Public Employees' Retirement System( CalPERS)
California State Teachers' Retirement System( CalSTRS)
Federal Retirement Thrift Investment Board
Teacher Retirement System of Texas( TRS of Texas)
Illinois Municipal Retirement Fund
Retirement Systems of Alabama
Kansas Public Employees Retirement System (KPERS)
Kansas City Public School Retirement System (KCPSRS)
Minnesota Public Employees' Retirement Association (MNPERA)
Minnesota Teachers' Retirement Association (MNTRA)
Fire and Police Pension Association of Colorado (FPPA)
Largest pension funds
Global assets under management
Pension insurance contract
Wikimedia Foundation. 2010.
Look at other dictionaries:
pension fund — n a large amount of money that a company ↑invests and uses to pay ↑pensions … Dictionary of contemporary English
pension fund — pension ,fund noun count * money that a company or organization uses to pay pensions to people … Usage of the words and phrases in modern English
pension fund — A fund set up to pay the pension benefits of a company s workers after retirement. Bloomberg Financial Dictionary A fund set up by a company or government to invest the pension contributions of members and employees. These are then paid out when… … Financial and business terms
Pension Fund — A fund established by an employer to facilitate and organize the investment of employees retirement funds contributed by the employer and employees. The pension fund is a common asset pool meant to generate stable growth over the long term, and… … Investment dictionary
pension fund */ — UK / US noun [countable] Word forms pension fund : singular pension fund plural pension funds money that a company or organization uses to pay pensions to people … English dictionary
pension fund — noun Pension fund is used before these nouns: ↑trustee … Collocations dictionary
pension fund — Fund established by corporations, unions, governmental bodies, etc. to pay pension benefits to its retired workers. See pension plan … Black's law dictionary
pension fund — fund established to provide pensions for retired employees … English contemporary dictionary
pension fund — /ˈpɛnʃən fʌnd/ (say penshuhn fund) noun a plan established and maintained by an employer (or a superannuation fund) to provide for systematic benefits in the form of a pension to employees (or members) after their retirement … Australian English dictionary
pension fund — a fund created and maintained, as by a corporation, to provide benefits under a pension plan. [1865 70] * * * … Universalium