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Issue № 62. June 2017

Risk Management in Retirement Savings Investment

Daria M. Romanova

Graduate student, School of Public Administration, Lomonosov Moscow State University, Moscow, Russian Federation.
E-mail: romanova.darya@mail.ru

Funded pension system is associated with considerable risks that governmental regulation strives to limit through prudential supervision, prudent person rule standards, risk-based supervision, guarantees, and restrictions on fees. This study seeks to determine pension risk management capabilities of each of these widely used approaches, or in other words, their ability to ensure that individuals are provided with an adequate retirement income. One of the major flaws of traditional approaches is their focus on the short-term delivery of investment returns instead of the long-term generation of pension income. It is thus suggested that governmental regulation is to be enhanced by improving investment regulatory framework based on the strategic asset allocation and implementation of lifecycle investment strategies.

Keywords

Risks of pension funds, funded pension system, defined contribution pension scheme, pension fund risk-management, risk-based supervision, pension risk, regulation of the pension industry.

Comments:
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