Issues in Pension Funding

Pension funds are amongst the largest institutional investors, owning one third of shares issued in Britain and on fifth of gilt-edged stock. Yet relatively little research has been done into this area despite their importance to the financial system. This book explains the way pension funds work in order to highlight their effect on the economy as a whole. David Blake explains the various systems in operation whether state run or private sector, including a description of recent policy initiatives. An ageing population, investment abroad, levels of security and retirement ages are the sorts of issues that come under scrutiny as David Blake assesses the ways pension funds behave, asking whether they can sustain their level of growth. He analyzes the relevance of such issues for international finance and innovation particularly in Europe and the United States. This book should be of interest to undergraduates and academics in business, finance and public policy. It is also a practical guide for managers.