From the Wharton School, offering a comprehensive assessment of the political and financial dimensions of public-sector pensions from the colonial period until the emergence of modern retirement plans in the twentieth century.
Fund Custody and Administration provides an overall perspective of investment funds without limiting its analysis to specific fund structures, as other books do. Since governance and oversight of investment funds are now major regulatory requirements, administrators and custodians must place greater emphasis on the custody and safekeeping of fund assets, on the independent and robust valuation of the assets, and on collateral management. By focusing on both the asset transactions made by the investment manager for the portfolio and on the transactions in the shares or units of the fund itself, it gives readers insights about the essential elements of investment fund management and administration, regardless of their geographical backgrounds. - Explores the key stages in the investment process, from setting up a fund through its launch and operation - Explains the roles of participants as well as the ways regulation affects the fund and its operation - Describes the work flow associated with custody and administration procedures and processes - Defines the role of compliance and risk management in the context of the fund and also how compliance requirements apply to custodians and administrators
"A startling new philosophy and practical guide to getting the most out of your money-and out of life-for those who value memorable experiences as much as their earnings"--
One Canadian in eight volunteered to fight between 1914 and 1918 and more than half of them were enlisted. Soldiers left their families behind to the tender mercy of a tight-fisted government and the Canadian Patriotic Fund, a national charity dominated by its wealthy donors. In time, the soldiers were remembered as the sacrificial heroes who won Canada a respected place in the world. The women who paid in loneliness and poverty were as easily forgotten as their letters, soaked in blood and Flanders mud. Fight or Pay tells the story of what happened to the soldiers' families and their quiet contributions to a fairer deal for Canadians in peace and war.
Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Research on soldier settlement has to be set within the wider history of emigration and immigration. This book examines two parallel but complementary themes: the settlement of British soldiers in the overseas or 'white' dominions, Australia, Canada, New Zealand and South Africa, between 1915 and 1930. One must place soldier settlement within the larger context of imperial migration prior to 1914 in order to elicit the changes in attitude and policy which occurred after the armistice. The book discusses the changes to Anglo-dominion relations that were consequent upon the incorporation of British ex-service personnel into several overseas soldier settlement programmes, and unravels the responses of the dominion governments to such programmes. For instance, Canadians and Australians complained about the number of ex-imperials who arrived physically unfit and unable to undertake employment of any kind. The First World War made the British government to commit itself to a free passage scheme for its ex-service personnel between 1914 and 1922. The efforts of men such as L. S. Amery who attempted to establish a landed imperial yeomanry overseas is described. Anglicisation was revived in South Africa after the second Anglo-Boer War, and politicisation of the country's soldier settlement was an integral part of the larger debate on British immigration to South Africa. The Australian experience of resettling ex-servicemen on the land after World War I came at a great social and financial cost, and New Zealand's disappointing results demonstrated the nation's vulnerability to outside economic factors.