New PDF release: Asset Management Standards: Corporate Governance for Asset
By Otto Loistl
Asset administration criteria are an important for development belief among traders and capital marketplace specialists. the difficulty of company governance has been thrown into the highlight through the disastrous cave in of Enron and the results for the undefined. The proposed criteria are appropriate for the total fund undefined, regulators, companies of pension plans and portfolio managers. Produced in organization with the eu Federation of economic Analysts Societies, this e-book goals to supply a well-founded foundation for improvement of the content material of asset administration criteria within the united kingdom, the USA and the european. It encompasses a distinctive evaluate of the present place, outlines deliberate advancements and discusses underlying difficulties.
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Additional resources for Asset Management Standards: Corporate Governance for Asset Management
106 The requirements set out in the criteria are:107 x The benefit is not paid out until the beneficiary is entitled to a retirement pension or an occupational disability pension or reaches the age of 60. x The plan must involve an annuity or a payout plan with annuitisation of the remaining capital. x Guaranteed life-long constant or increasing benefits. x At the start of the payout phase, at least the contributions paid (nominal value maintenance), and during the payout phase the continuing payments, must be guaranteed.
X Employee entitlement to an occupational pension financed by salary deductions with immediate statutory vesting (pillar 2). 84 x Pension insurance institutions will have to inform policyholders once a year about the status of their pension rights. 87 Monthly pensiongross = Personal earnings points · Pension type factor · Current pension value where: x Earnings points are calculated as the ratio resulting from the division of annual income by average income. e. the extent to which the pension concerned is designed to replace a salary.
39 For the EU, this prediction applies in particular to France and the United Kingdom. In the case of Germany, it should be noted that immigration levels in recent years cannot be seen as being representative of the long-term trend because special circumstances pushed them well above long-term levels. The other countries and regions studied would need a level of immigration much higher than historical migration levels to stabilise their populations. x If immigration is to be used to prevent a decline in the working-age population, the numbers of migrants will have to be significantly larger than those needed to offset total population decline.