scholarly journals The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management

2019 ◽  
Vol 2 (1) ◽  
pp. 60-87
Author(s):  
Ikhwanul Huda
Keyword(s):  
Financial Institutions ◽  
Pension Fund ◽  
Islamic Law ◽  
Fund Management ◽  
Retirement Benefits ◽  
Pension Fund Management ◽  
Islamic Principle

Pension fund is one of the non-bank financial institutions that manages and implements program to generate retirement benefits. Pension fund is one of potential resources of fund which operation can be based on either conventional or Islamic principle. This research will focus on the type of contracts used by Universitas Muhammadiyah Surakarta (UMS) Pension Fund whether its operation conforms the requirements of shariah princple or not. This research aims to know, elaborate and evaluate the conformity of shariah principle in the UMS Pension Fund operation. The type of research carried out here is qualitative with the descriptive evaluative approach. The data is obtained through observation, documentation and interview. The result of the research shows that the contracts used in managing the fund by UMS Pension Fund are muḍārabah, wakalah, ijārah and hibah. Muḍārabah contract is used between the pension fund and the participants as well as between pension fund and investee. Wakalah contract is used between the employer which is UMS in this case and the pension fund. Meanwhile, hibah contract is used between employer and participants.

scholarly journals Analysis of the efficiency of financial institutions in Serbia based on the OCRA method

Tehnika ◽  
2021 ◽  
Vol 76 (1) ◽  
pp. 103-111
Author(s):  
Radojko Lukić
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Significant Role ◽  
Pension Fund ◽  
Insurance Companies ◽  
Investment Fund ◽  
Fund Management ◽  
Investment Funds ◽  
Financial Leasing ◽  
Pension Fund Management

Recently, as is well known, the performance and efficiency of financial institutions are increasingly being measured on the basis of multi-criteria analysis. With this in mind, this paper analyzes the efficiency of financial institutions in Serbia based on the OCRA method. In this context, adequate measures have been proposed to improve the efficiency of financial institutions in Serbia in the future. Based on the obtained results of research on the efficiency of financial institutions in Serbia using the OCRA method, it can be concluded that banks and insurance companies are the most efficient in order. They are in order: other financial institutions, financial leasing providers, voluntary pension funds, broker-dealer companies, open-end investment funds, voluntary pension fund management companies and investment fund management companies. This positioning of financial institutions in Serbia was influenced by numerous macro and micro factors. The development of the financial market plays a significant role in this. It is still not at the level of developed market economies.

Optimal Multistage Defined-Benefit Pension Fund Management

2017 ◽  
pp. 267-296 ◽  
Author(s):  
Giorgio Consigli ◽  
Vittorio Moriggia ◽  
Elena Benincasa ◽  
Giacomo Landoni ◽  
Filomena Petronio ◽  
...  
Keyword(s):  
Pension Fund ◽  
Defined Benefit ◽  
Fund Management ◽  
Pension Fund Management

Pension fund management with hedging derivatives, stochastic dominance and nodal contamination

Omega ◽  
2019 ◽  
Vol 87 ◽  
pp. 127-141 ◽  
Author(s):  
Vittorio Moriggia ◽  
Miloš Kopa ◽  
Sebastiano Vitali
Keyword(s):  
Stochastic Dominance ◽  
Pension Fund ◽  
Fund Management ◽  
Pension Fund Management

Portfolio allocation for public pension funds

2011 ◽  
Vol 10 (2) ◽  
pp. 221-245 ◽  
Author(s):  
GEORGE PENNACCHI ◽  
MAHDI RASTAD
Keyword(s):  
Pension Fund ◽  
Pension Funds ◽  
Pension Plans ◽  
Public Pension ◽  
Annual Data ◽  
Portfolio Risk ◽  
Fund Management ◽  
Pension Fund Management ◽  
Portfolio Allocations ◽  
State Pension

AbstractThis paper presents a model of a public pension fund's choice of portfolio risk. Optimal portfolio allocations are derived when pension fund management maximize the utility of wealth of a representative taxpayer or when pension fund management maximize their own utility of compensation. The model's implications are examined using annual data on the portfolio allocations and plan characteristics of 125 state pension funds over the 2000–2009 period. Consistent with agency behavior by public pension fund management, we find evidence that funds chose greater overall asset – liability portfolio risk following periods of relatively poor investment performance. In addition, pension plans that select a relatively high rate with which to discount their liabilities tend to choose riskier portfolios. Moreover, consistent with a desire to gamble for higher benefits, pension plans take more risk when they have greater representation by plan participants on their Boards of Trustees.

Three Steps to Heaven? Tensions in the Management of Welfare: Retirement Pensions and Active Consumers

2005 ◽  
Vol 35 (1) ◽  
pp. 77-96 ◽  
Author(s):  
KIRK MANN
Keyword(s):  
Risk Assessment ◽  
Welfare Reform ◽  
Portfolio Management ◽  
Pension Fund ◽  
Fund Management ◽  
Citizenship Rights ◽  
Lifestyle Choice ◽  
Pension Fund Management ◽  
Working Practices ◽  
The Government

This article explores some of the emerging tensions in the management of welfare in Britain. The success of Labour's proposals for welfare reform, particularly retirement pensions, hinges on their ability to promote the idea of the consumer citizen and to undermine traditional ideas of citizenship rights. However, managing this transition – including the presentation of ideas and the management of consumers – has not been straightforward. While the Government presents retirement as a matter of lifestyle choice, welfare ‘consumers’ are demanding more of their providers and are regularly disgruntled with the response.Simultaneously, pension providers are expressing reservations about their ability to manage aggrieved consumers. Furthermore, they believe pension fund management has been politicised, and their scope for discretion reduced by regulation, while technical and scientific developments in terms of portfolio management and risk assessment have changed the working practices of those in the pension industry. These tensions between consumers, providers and legislators may generate further dissatisfaction with the balance of rights and responsibilities being hotly contested.

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