Financial market implications of India's pension reform /

Financial market implications of India's pension reform /

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Bibliographic Details
Author / Creator:Poirson, Hélène, author.
Imprint:[Washington, D.C.] : International Monetary Fund, Asia and Pacific Dept., ©2007.
Description:1 online resource (21 pages) : illustrations
Language:English
Series:IMF working paper ; WP/07/085
IMF working paper ; WP/07/085.
Subject:
Capital market -- India -- Econometric models.
Monetary policy -- India -- Econometric models.
Pensions -- India -- Econometric models.
Capital market -- Econometric models.
Monetary policy -- Econometric models.
Pensions -- Econometric models.
India.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12499723
Hidden Bibliographic Details
Other authors / contributors:International Monetary Fund. Asia and Pacific Department.
ISBN:1283512513
9781283512510
Notes:Includes bibliographical references.
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:India's planned pension reform will set up a proper regulatory framework for the pension industry and open up the sector to private fund managers. Drawing on international experiences, the paper highlights pre-conditions for the reform to kick-start financial development, including: (i) the buildup of critical mass; (ii) sufficiently flexible investment guidelines and regulations, including on investments abroad; and (iii) concurrent reforms in capital markets. Given the limited scale of the planned reform, the key challenge for India is to achieve sufficient critical mass early on. Options to address this challenge include granting permission for existing workers to switch to the new system or outsourcing all or part of the reserves of private sector provident funds to the new pension fund managers.
Other form:Print version: Poirson, Hélène. Financial market implications of India's pension reform. [Washington, D.C.] : International Monetary Fund, Asia and Pacific Dept., ©2007
Table of Contents:
  • I. Introduction; II. Benmarking India's Pension System; A. India's Pension Plan in International Perspective; Box; 1. The New Pension System; B. Financial Implications; III. Investment Policies and Returns on Pension Contributions; Figures; 1. Cumulative Real Returns, 1995-2006; Tables; 1. Estimated Pensions and Replacement Rates under the NPS; 2. Annual Inflation-Adjusted Returns on Stocks and Government Bonds, 1995-2006; A. Investment Limits; B. Asset Allocation; 3. Equity and Foreign Investment Restrictions for Pension Funds; C. Diversification Abroad.
  • 2. Selected Countries: Pension Fund Foreign Asset Allocation4. Pension Fund Portfolio Allocation, 2004; IV. Pension Funds and Capital Market Development; A. Financial Depth; 3. Retirement Market; 4. Asian Countries: Pension Assets Under Management, 2005; 5. Pension Fund Assets in Selected Non-OECD Countries, 2004; 6. Selected Emerging Countries: Pension Assets; 7. Market Capitalization and Pension Assets, 1980-95; 8. Chile: Pension Assets and Market Capitalization, 1981-2005; B. Diversification of the Investor Base; C. Diversification of Asset Allocation.
  • D. Increased Market Stability and Efficiency9. Asia: Population Aged 15-64; V. Conclusions; Appendix; 1. International Experience with Privately Managed Pension Plans; Appendix Table; I.1 Selected Countries: Main Features of Privately-Managed Pension Systems; References.

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