Everything about Pension Fund totally explained
A
Pension fund is a pool of assets forming an independent legal entity that are bought with the contributions to a
pension plan 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 Plan dominate. The largest 300 pension funds collectively hold about $6 trillion in assets. In January 2008,
The Economist reported that
Morgan Stanley estimates 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.
Classifications
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.
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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's 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.
Examples
Government
Caisse de dépôt et placement du Québec
Canada Pension Plan
Alberta Investment Management
Private
Ontario Teachers' Pension Plan (union-controlled)
Hospitals of Ontario Pension Plan (HOOPP)
Government
California Public Employees' Retirement System (CalPERS)
California State Teachers' Retirement System (CalSTRS)
Federal Retirement Thrift Investment Board
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)
Chile
Chile pension system
Stichting Pensioenfonds ABP (ABP)
PGGM
Central Provident FundFurther Information
Get more info on 'Pension Fund'.
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