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Rent-Seeking in Private Pensions

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This book argues that the implementation of compulsory, highly regulated, privately administered, defined contribution pensions facilitates rent-seeking behaviour on the part of the pension fund administrators and undermines the retirees’ income and well-being. While the book focuses primarily on Chile, its analysis and conclusions are applicable to several Latin American and Eastern European countries where privately administered pension systems have been implemented. Chapters evaluate the scholarly literature and empirical evidence around three aspects of the pension fund industry: structure, pricing and performance. The authors conclude that state regulation has facilitated the accumulation of capital in the hands of the pension fund administrators. They also demonstrate that these systems owe more to the values and principles of conservative philosophy than to neoliberalism in providing alternative solutions to the rent-seeking approach to retirement.

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Publisher

London : Palgrave Macmillan London., 2016

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Language

English

ISBN/ISSN

978-1-137-58035-1

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NONE

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Subject(s)

Financial Services

Specific Detail Info

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Statement of Responsibility

Mark Hyde

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Cataloger

Firli

Source

https://link.springer.com/book/10.1057/978-1-137-58035-1#book-header

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