Accounting Standards and German Supplementary Pensions PDF Download

Author: Gordon L. Clark
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 36

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Author: Gordon L. Clark
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 0

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Book Description

Author: Gordon L. Clark
Publisher:
ISBN:
Category :
Languages : en
Pages : 39

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Book Description
In a previous paper we emphasised the changing national and international accounting standards used to measure net pension liability. Beginning with the implications of this analysis for the financing of German employer-sponsored pensions, in this paper we focus upon the internal management of corporate pension assets and liabilities. Two issues drive the analysis. One has to do with the emerging coalescence of interests joining corporate management and shareholders in relation to the management of pension assets and liabilities. The second issue has to do with the allocation of risk and uncertainty between social partners when negotiating the financing and final value of promised retirement income. We analyse the importance of workers' risk aversion and the widely-held goal of stable long-term real incomes for the management of pension assets. In the context of global financial markets, we suggest that the institutional framework of investment decision making common to many of Germany's largest firms is under considerable pressure; three models of investment decision making relevant to pension assets and liabilities are used to illustrate this point. Contrasts are drawn with competing systems of corporate governance, noting the incorporation of pension financing into Anglo-American corporate treasuries. Implications are drawn with respect to the changing status of German employer-sponsored supplementary pensions in relation to debate over the future of social security and social insurance.

Author: Gordon L. Clark
Publisher: Oxford University Press
ISBN: 9780199253647
Category : Business & Economics
Languages : en
Pages : 276

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The demographic & funding crisis that threatens European systems of pension & retirement income is the subject of this study. The book argues that state-sponsored social security will not deliver the promised retirement incomes for the baby-boom generation.

Author: Christina Benita Wilke
Publisher: Peter Lang
ISBN: 9783631588512
Category : Business & Economics
Languages : en
Pages : 216

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The German pension system was the first formal pension system in the world, designed by Bismarck nearly 120 years ago. It has been very successful in providing high and reliable pension levels at reasonable contribution rates. While the generosity of the German pension system is considered a great social achievement, negative incentive effects of past reforms in the 1970s and 1980s and population aging are threatening the very core of the system. This has led to fundamental pension reforms since 1992. Based on a detailed simulation model of the German pension system, this book provides a thorough assessment of the system and its reforms. It shows that the latest reforms have put the system back onto a stable path and moved it from the old monolithic towards a multi-pillar system.

Author: Kolaczkowski, James
Publisher: Edward Elgar Publishing
ISBN: 1800372981
Category : Law
Languages : en
Pages : 488

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Presenting the evolution of supplementary pensions over the past 25 years, this comprehensive book introduces the origin of pensions as a concept and explores the role that international organisations play within the field. It draws comparisons between different welfare states, reflecting upon current research and identifying new directions and ideas.

Author: Peter Schulz
Publisher: diplom.de
ISBN: 3836605236
Category : Business & Economics
Languages : en
Pages : 90

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Inhaltsangabe:Abstract: Based on national legislation and past business practices in Germany, this master thesis / management report illustrates a specific German issue of occupational pension schemes by comparing the example of the Cologne-based German subsidiary of INFICON, the company with which I am employed, against INFICON s other subsidiaries in Liechtenstein and in the US. In the past, it was customary for both national and international companies to provide different kinds of occupational pension schemes for employees as an additional incentive. Unlike US and Swiss companies, German corporations retained the money collected from occupational pension schemes in their companies in order to benefit from these low-cost internal funds instead of investing them in external funds. Rating aspects, the increasing internationalisation of the capital markets and Basel II are forcing INFICON GmbH to reduce its balance sheet by outsourcing pension reserves. Anglo-Saxon dominated rating agencies, in particular, are still extremely critical about pension reserves and treat them as "real" debt capital. In addition, the EU Regulation 1606/2002 stipulates that as of 2005 all capital market-orientated corporations with registered offices in EU Member States will have to draw up their group statements in accordance with International Accounting Standards. Furthermore, these long-term contracts (occupational pension schemes based on book reserves, Direktzusage) are increasingly imposing a burden on German companies as human life expectancy has constantly been rising, and business growth rates have been decreasing. Moreover, companies were forced to change their policy because of the pressure resulting from the globalisation of fiscal laws for multinational corporations. Approach: It is the objective of this master thesis / management report to identify INFICON s business issues with regard to its pension book reserves in view of the common German business practices of the past and their changes in light of the internationalisation of the capital markets and of current legal requirements in Germany and the EU and to draw up appropriate recommendations. By explaining INFICON s diverse approaches in its subsidiaries in the USA, Liechtenstein and Germany, the unequal treatment of national occupational pension schemes in Germany and in other countries will be demonstrated. For that reason the national retirement systems in Switzerland (which is very similar [...]

Author: Michael Faure
Publisher: Routledge
ISBN: 1134623070
Category : Business & Economics
Languages : en
Pages : 253

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This book, from a top international group of scholars, explores the ways in which economic tools can be used to improve the quality of regulation in general and legislative tools in particular. As the role of law becomes increasingly important in China, the question arises of how effective regulatory and legislative tools can be developed to accompany the Chinese evolution towards a welfare state. China therefore provides a unique case study for scholars and policymakers interested in examining how regulation can play a role in promoting sustainable development. Economics and Regulation in China goes beyond traditional economic analysis of law by focusing specifically on the question of how economic tools can guide the quality of legislation. To this end, the book centres in on three areas: regulation as a tool of economic growth, competition policy and environmental policy. Not only are these three domains of great importance for China, but they are also relevant for a broad scholarship interested in the economic analysis of law. This volume contributes to discussions on how ex-ante evaluation of legislative proposals and ex-post analysis can increase the effectiveness and efficiency of regulation, using economic tools, offering insights that go beyond the particular case of China. The analysis offered by this book makes it an invaluable resource for academics and policymakers alike.

Author: Meric S. Gertler
Publisher: OUP Oxford
ISBN: 0191513466
Category : Social Science
Languages : en
Pages : 222

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Recent years have seen a lively debate over the role of tacit knowledge and interactive learning in privileging the local over the global. Yet, our continuing inability to answer questions such as 'when and why is the local important in production and innovation processes?' indicates that our understanding of the firm and the forces that shape its managers' choices remains weak. Such a theory ought to be able to answer fundamental questions like: why do firms in particular places adopt particular production and innovation practices, and not others? What forces determine what a firm 'knows' and when it is able to act upon this knowledge? How easy is it to transfer this knowledge between places? This book presents a new conception of industrial practice and firm behaviour. It explains how the cultures that shape the practices of firms and the trajectories of regional and national economies are actually produced. The analysis shows how the internal and inter-firm organization of production, use of technologies, and the industrial knowledge underpinning these practices are strongly influenced by their social and institutional context. Routine forms of behaviour are not simply inherited from past practice. Instead, they are shaped and constrained - though not wholly determined - by a set of institutions that govern how work is organized, workers are deployed, and technology is implemented. Because of the slowly evolving nature of these institutions, distinctive national 'models' are not converging around a single global norm.

Author: OECD
Publisher: OECD Publishing
ISBN: 9264181210
Category :
Languages : en
Pages : 397

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This book provides an overview of recent developments in the private pension systems of four OECD countries (Hungary, Mexico, the United Kingdom and the United States) as well as an analysis of institutional investors in Latin America.