Competition can solve Japan's pension woes

Article Abstract:

The Japanese government needs to open its pension system to competition from foreign money managers to avoid a future funding crisis. The Ministry of Finance should also reform its regulations on access to pension assets and asset allocation to increase competition and promote the diversification of the country's public pension funds. It can implement these changes by imposing fiduciary duty on fund management firms, compelling them to manage their employees' retirement benefits as efficiently as possible.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Pension & Benefit Regulation, Analysis, Japan, Social policy, Pensions, Fiduciary duties

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Australia shows promise in the long term

Article Abstract:

Antony Creighton, head of institutional client account management at Schroder's Australian operations, and consultant for Australia superannuation (pension-fund) clients, expects Australia to become a bigger and much wealthier economy in the longer term when it becomes a rentier economy (person who has a fixed income from land, bonds and other securities). Australia's superannuation assets have risen from A$120 billion to about A$415 billion (US$220 billion) in the past 10 years.

Australia, Financial assets, Economic aspects, Beliefs, opinions and attitudes, Creighton, Antony

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Fully funded pension accounts can work in China

Article Abstract:

China's pension system is currently in need of reform, and converting to fully funded individual pension accounts could help both the government and workers. Employees would have incentives to add funds, and contributing 12.3% of wages would lead to a pension of 60% of wages.

China, Government domestic functions, Financial management, Editorial

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