Financial Sector Dimensions of the Colombian Pension System

Roberto Rezende Rocha, Heinz P. Rudolph, Craig Thorburn, Hela Cheikhrouhou

ISBN 10: 0821371177 / ISBN 13: 9780821371176

Published by World Bank Publications, US, 2007

About this Item

Seller Inventory # LU-9780821371176

Bibliographic Details

• Title: Financial Sector Dimensions of the Colombian Pension System
• Publisher: World Bank Publications, US
• Publication Date: 2007
• Language: English
• ISBN 10: 0821371177
• ISBN 13: 9780821371176
• Binding: Paperback
• Condition: New
• Weight: 173 grams

About this title

Synopsis

'Financial Sector Dimensions of the Colombian Pension System' provides an assessment of the funded pension system and the quality of the regulatory framework for both accumulation and payout phase. It suggests that the lack of portfolio diversification may contribute in the future to low returns and poor pensions and provides a number of recommendations to expand the opportunities of investments to pension funds. The paper also finds that pension fund administrators are not exploiting the scale economies in certain areas of the business such as collection of revenues and account management, and proposes mechanisms to reduce costs and increase efficiency through greater competition. The paper examines the products and options offered at retirement age and finds a bias toward the payment of pensions in the form of lump sums and suggests alternatives for improving the availability of other instruments. Enhancements to the regulatory framework of insurance companies are also proposed.