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The Evolution of the Canadian Pension Model : Practical Lessons for Building World-Class Pension Organizations : The evolution of the Canadian pension model : practical lessons for building world-class pension organizations (English)

Over the past three decades, a Canadian model of public pension has emerged that combines independent governance, professional in-house investment management, scale, and extensive geographic and asset-class diversification. This report aims to document the emergence and evolution of this Canadian model, distilling practical lessons for stakeholders in emerging economies working to improve their pension arrangements and retirement systems. Although a growing body of literature exists on the Canadian model of pension organization, this report is unique in two respects: its emphasis on the evolutionary journey of Canadian pension organizations (as opposed to their current state) and its in-depth focus on Canadian pension funds that have received less attention than some of their peers.

Details

  • Document Date

    2017/11/17

  • Document Type

    Working Paper

  • Report Number

    121375

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Canada,

  • Region

    Rest Of The World,

  • Disclosure Date

    2017/11/19

  • Disclosure Status

    Disclosed

  • Doc Name

    The evolution of the Canadian pension model : practical lessons for building world-class pension organizations

  • Keywords

    finance and markets; broad range of stakeholders; pensions and retirement systems; public pension; public pension fund; pension plan; retirement income system; global financial crisis; public sector pensions; standard of living; asset and liability; emerging economy; Emerging economies; minister of finance; income tax legislation; retirement income security; domestic government bond; independent central bank; Local Economic Development; return on capital; standard of transparency; formal governance model; Public Sector Organizations; economies of scale; global financial center; active investment management; public sector fund; legislation and regulation; public policy; Private Equity; Real estate; asset class; net asset; asset allocation; alternative asset; regulatory environment; pension system; independent board; modern technology; direct investment; public equity; comparative advantage; diverse stakeholder; retirement security; investment limit; global fund; pension reform; pension arrangement; investment opportunities; government action; stakeholder consultation; investment professional; local condition; long-term investor; pension asset; private saving; good governance; federal government; public asset; reform strategy; competitive pay; government fund; liability management; public servant; risk sharing; regulatory regime; expected return; small pension; political debate; market participant; stakeholder plan; contribution rate; defined-benefit pension; market downturn; social security; external managers; employer plan; investment mandate; external asset; older generations; liability side; Investment strategies; fiscal burden; primary audience; ethical conduct; management consultant; political issue; domestic equity; organizational structure; investment approach; client relationships; fiscal crisis; pension funding; organizational culture; global experience; passive investment; external source; investment program; investment expertise; public place; membership base; expert reports; investment framework; credit investment; political will; investment diversification; local knowledge; operational decisions; transparent process; government budget; political factor; purpose fund; exchange program; early adopter; pension beneficiary; qualified professional; ethical leadership; intergenerational equity; investment rule; unforeseen circumstance; business community; inflection point; changing workforce; lower-income household; benefit plan; residency requirements; replacement rate; Financing programmes; global pension; finance program; pension earnings; pension benefit; market volatility; adequate income; investment governance; income supplement; discount rate; photo credit; general revenues; pension coverage; employer contribution; funded pension; unfunded liability; tax treatment; savings account; Employment Sector; younger generation; client asset; government pension; disability benefit; earnings replacement; retirement benefit; single people; payment formula; provincial finance; net investment; political dynamic; reserve fund; evolutionary path; reform process; replacement income; diversified portfolio; investment portfolio; transparency measures; public reporting; heavy subsidies; public entity; resource revenue; noncommercial purposes; retirement program; increase poverty; research institute; employee retirement; pension administration; private initiative; fiduciary duty; economic independence; government transformation

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Citation

The Evolution of the Canadian Pension Model : Practical Lessons for Building World-Class Pension Organizations : The evolution of the Canadian pension model : practical lessons for building world-class pension organizations (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/780721510639698502/The-evolution-of-the-Canadian-pension-model-practical-lessons-for-building-world-class-pension-organizations