Pension_fund

A Pension fund is a pool of assets forming an independent legal entity that are bought with the contributions to a pension plan for the exclusive purpose of financing pension plan benefits.

Pension funds are important shareholders of listed and private companies. They are especially important to the stock market where large institutional investors like the Ontario Teachers\' Pension Plan dominate. The largest 300 pension funds collectively hold about $6 trillion in assets.[1] In January 2008, The Economist reported that Morgan Stanley estimates that pension funds world-wide hold over US$20 trillion in assets, the largest for any category of investor ahead of mutual funds, insurance companies, currency reserves, sovereign-wealth funds, hedge funds, or private equity.The Economist Jan 17, 2008 (economist.com)

Classifications

Open vs. closed pension funds

Open pension funds support at least one pension plan with no restriction on membership while closed pension funds support only pension plans that are limited to certain employees.[2]

Closed pension funds are further subclassified into:

• Single employer pension funds
• Multi-employer pension funds
• Related member pension funds
• Individual pension funds

Public vs. private pension funds

A public pension fund is one that is regulated under public sector law while a private pension fund is regulated under private sector law.

Examples

This list is incomplete; you can help by expanding it.

Canada

Government

• Caisse de dépôt et placement du Québec
• Canada Pension Plan
• Alberta Investment Management

Private

• Ontario Teachers\' Pension Plan (union-controlled)
• Hospitals of Ontario Pension Plan (HOOPP)

United States

Government

• CalPERS
• CalSTRS
• Federal Retirement Thrift Investment Board
• Illinois Municipal Retirement Fund
• Retirement Systems of Alabama
• Kansas Public Employees Retirement System (KPERS)
• Kansas City Public School Retirement System (KCPSRS)
• Minnesota Public Employees\' Retirement Association (MNPERA)
• [[Minnesota Teachers\' Retirement Association {MNTRA)]]
• Fire and Police Pension Association of Colorado (FPPA)

Chile

Private

• Chile pension system

Singapore

Government

• Central Provident Fund

References

See also

• Pension insurance contract

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